Wish Book time!Dec 21, 2015 | Wealth Management
1977: The Dow hit a high of 999. A gallon of regular gas was $.62, the #1 song in December was "How Deep Is Your Love" by the Bee Gees and the highest grossing movie was Star Wars. But, the most important part of the year for every kid was the arrival of the 1977 Sears Wish Book. I recall spending hours going through the catalog with painstaking detail while taking extensive notes and circling the special, can't miss toys (such as the Evel Knievel Stratocycle!) of which I would carefully describe to Santa. Of course, this was the only book where you started at the back and turned the pages until you hit the clothing section. I remember going to elementary school feeling like quite the heartbreaker in my corduroy vest and jean combo! (I had the blue one.)
You will notice that most items in the Wish Book are more expensive now due to normal inflation, however, it is amazing what has happened in technology over time. For example, a 19" color television was a whopping $429!! That would buy a 60" flat panel HD television today. When you consider the median household income was only $13,572 in 1977, $429 was a huge piece of disposable income. In fact, $429 in 1977 is equal to about $1,650 today.
Thank you for sharing this trip down memory lane.
Senior Wealth Advisor
Investments offered by Wealth Management Division at Bank of the Bluegrass & Trust Company *Are not FDIC Insured * Are not Bank Guaranteed * May Lose Value*
The information presented in this blog is general in nature. It is not intended to provide, and should not be relied upon for accounting, investment, legal or tax advice. Investors should consider their individual financial circumstances and the inherent risks of investing prior to making any investment decision.
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