Why Do You Even Drink?

[therenegade]

hello gentlemen,

I need to know how much 30'000 pounds in 1944 would worth today.

this is about a testament that has been stolen. I am living in Thailand and I have found that one of my parents who died recently kept this money away from my father for all these years.

i am sure there are some british guys here who could give me some info.

[MJCM]

According to this http://inflation.stephenmorley.org/

Around GBP 1.233.000,-

Edited July 29, 2016 by MJCM

[GuestHouse]

According to this http://inflation.stephenmorley.org/

Around GBP 1.233.000,-

While a good estimate of the inflationary comparison, it misses what is perhaps the larger 'lost opportunity cost'

A father who died recently but was alive in 1944 would have been a child at in the 1940s. Going into adulthood with £30,000 in the bank would have offered the opportunity of a mortgage free life, and the capital to do more or less anything as a young man and later father of young children.

Therenegade, its surely a bitter thought that your father lost those opportunities, but unless you have a very real chance of recouping a significant amount of the money/property, let it go, don't let it ruin your life too.

[Ricardo]

I'm not sure what exactly "one of my parents who died recently kept this money away from my father" means ...

but perhaps some of the money was spent on raising & educating your father ?

Children don't come free, unfortunately.

[blackcab]

On the other hand, if the £40,000 sat in a box all this time it is now worth precisely £40,000.

[cyberfarang]

£30000 in 1944 would have the buying potential of £1233000 today. If the £30000 was kept in cash under a mattress then it would only be worth £30000 today. If the money was invested either in a bank or shares or bonds or whatever, the value of the original £30000 today depends on how well it was invested.

[berybert]

​In 1944 you could have brought an average house for £500, so your father could have owned 60 houses for his 30,000 pounds.

The houses would now be worth in the region of £250,000 each. So your original 30 grand would be worth an estimated 15 million pounds.

Take off the cost of new fixtures, fittings etc but then add on the rent money he could have collected and I'd say you are 20 million quid out of pocket.

Still its only money.

[starky]

​In 1944 you could have brought an average house for £500, so your father could have owned 60 houses for his 30,000 pounds.

The houses would now be worth in the region of £250,000 each. So your original 30 grand would be worth an estimated 15 million pounds.

Take off the cost of new fixtures, fittings etc but then add on the rent money he could have collected and I'd say you are 20 million quid out of pocket.

Still its only money.

Very true but he might not have been the sort of person to invest in real estate and he most definitely wouldn't have bought 60 houses that's a fallacious argument. He also conversely might have been a hopeless gambler or pisshead and knocked the whole lot off or pissed it all up against the wall. Maybe he might have done as others have suggested and stashed it in a shoebox in which case it's worth exactly what it was then. So in short it could be worth exactly the same or a motza or nothing at all. Almost impossible to tell really what he would have done with the money had he had access to it and ridiculous to assume he would have been a retrospective financial wizard with it. Though seeing as the word testament is the one used I am assuming it may have been money left in a will that was either never given or inappropriately misdirected. However, unfortunately, unless he has some real tangible prospect of recouping some or all of it, quite academic in this argument. Edited July 29, 2016 by starky

[donnybay]

Hypothetical question from a one post wonder

[starky]

Hypothetical question from a one post wonder

Yes I too find it somewhat curious people that seem to go to all the trouble of joining an anonymous forum to specifically ask a random question generally of a personal nature that would probably be better asked of family or friends or better yet could be researched with a quick google search in less than the time it took you to join said forum.

[stament]

You said one of your parents keot it away from your father. Now unless you have step or foster parents the only logical conclusion can be is that your mother kept it from your father as you only have 2 parents. It doesn't answer your question but I am just trying to point out something in your statement seems a bit odd.

[Tagaa]

Talk about crying over spilled milk

Edited July 30, 2016 by Tagaa

[Briggsy]

You wouldn't hold Nigerian citizenship by any chance, would you?

[manarak]

​In 1944 you could have brought an average house for £500, so your father could have owned 60 houses for his 30,000 pounds.

The houses would now be worth in the region of £250,000 each. So your original 30 grand would be worth an estimated 15 million pounds.

Take off the cost of new fixtures, fittings etc but then add on the rent money he could have collected and I'd say you are 20 million quid out of pocket.

Still its only money.

In legal matters, old debts in liquid currency can only be accrued using compounded legal interest.

As a rule, opportunity costs or missed profits are never included in the compensation sum.

[therenegade]

I come here just to get some advice from you.I live in Thailand so why not to ask?.

in the testament of 1944, my father should have received half, this money(60000 Pounds) has been invested in a very successful business making her rich.She spent all in travels & jewelries

the last husband want all the money (he married her(2 years only) for the money and has hidden the marriage from us). He is 79 old and apparently has problem with his heart.

the notary is asking how much worth the testament. how can I know? anyway, without my signature, he can not get anything. this guy is a manipulator and is playing the system, he even has manipulated the notary (who has recently been sacked from her position ) who made lot of mistake into his interest.(he even claims back the gifts we receive when I was a child.this guy is nut!). I have a lawyer already.

Edited July 30, 2016 by therenegade

[cyberfarang]

​In 1944 you could have brought an average house for £500, so your father could have owned 60 houses for his 30,000 pounds.

The houses would now be worth in the region of £250,000 each. So your original 30 grand would be worth an estimated 15 million pounds.

Take off the cost of new fixtures, fittings etc but then add on the rent money he could have collected and I'd say you are 20 million quid out of pocket.

Still its only money.

Your house price statistics are very, very interesting.

If in 1944 £30000 had the buying power of equivalent £1233000 today and back in 1944 if it was possible to buy 60 houses compared with only 5 houses today for the equivalent money in real terms then that means UK prices for an average house has increased 12 fold, 1200% in 72 years, an increase of over 16% a year in real terms. Meaning that UK house prices have increased massively out of proportion with inflation. I can remember back in the 1950s and 1960s it was possible to buy an average car for under £200 and the price of vehicles have increased well out of proportion too.

But I guess it`s all swings and roundabouts because back in those days the majority of working class people were earning much less then the average employees are earning today in real terms, so it was probably just as difficult getting on the property ladder back then as it is today, maybe harder in fact. My maternal grandparents lived in a 3 bedroom council house outside of London in 1936 and under a right to buy scheme were given an opportunity to buy the house for £250 mortgage payments of £1.25 per month. Granddad couldn`t afford the payments and today that same house is now valued at £320000.

In 1966 my first job working a 6 day week paid £4.50 a week, equivalent of about £75 today and during those times my parents bought a house outside of London cost around £3000 so I guess the 1960s was boom time for home buyers and later during the 1980s the market got greedy and why today it has become virtually impossible for first time buyers to get onto the property ladder, which means although wages have increased in real terms the market is still pushing house prices massively above inflationary rates, meaning it`s all rigged in favour of the estate agents, banks and lawyers that have monopolized the buying and selling of UK properties to acquire the maximum amount of commissions as possible.

[stament]

good luck be prepared for some legal fees

[oxo1947]

According to this http://inflation.stephenmorley.org/

Around GBP 1.233.000,-

That's a handy site MJCM.........is there one that covers all other countries....I tried Google...but no luck.

[therenegade]

According to this http://inflation.stephenmorley.org/

Around GBP 1.233.000,-

That's a handy site MJCM.........is there one that covers all other countries....I tried Google...but no luck.

yes but this is what it worth if you don't invest it (just inflation).The money has been invested into a successful business for over 50-60 years, this is the result I got online from https://www.measuringworth.com/ukcompare/relativevalue.php :

In 2015, the relative value of £30,000 0s 0d from 1944 ranges from £1,092,000.00 to £5,690,000.00

Edited July 30, 2016 by therenegade

[blackcab]

According to this http://inflation.stephenmorley.org/

Around GBP 1.233.000,-

That's a handy site MJCM.........is there one that covers all other countries....I tried Google...but no luck.

yes but this is what it worth if you don't invest it (just inflation).The money has been invested into a successful business for over 50-60 years, this is the result I got online from https://www.measuringworth.com/ukcompare/relativevalue.php :

In 2015, the relative value of £30,000 0s 0d from 1944 ranges from £1,092,000.00 to £5,690,000.00

And how much would it be worth if it was invested in an unsuccessful business?

[MJCM]

According to this http://inflation.stephenmorley.org/

Around GBP 1.233.000,-

That's a handy site MJCM.........is there one that covers all other countries....I tried Google...but no luck.

No idea sorry, but I found this one for Euro

http://www.iisg.nl/hpw/calculate.php

And this one for USD

https://www.measuringworth.com/ppowerus/

Edited July 30, 2016 by MJCM

[therenegade]

I m talking about an heritage that has been stolen to the profit of one person and I will not let this go away like that. usually a person lose all his rights

notary didn't do his job (corrupt?) he should have put the money apart for my father.
this is going to be a long process. I could go
to the tribunal , but first I will complain to the chamber of notaries or to the higher representation. whatever they call it.

[blackcab]

Good luck with that.