Inheritance In The 1950's

[yelenots]

I am researching my family tree and have found out that my late Mother inherited around £12000 in the early 1950's - just interested to know would that of been considered a 'large' amount then and what would be the equivalent today? Thanks.

[LyndaB]

I know it all depends on where you live, but my mum and dad bought their first house in 1956 and it was considered at the time to be the very last word in luxury. It cost them £1800 and everyone told them they were barking mad for paying so much for a house! So yes, £12,000 would have been a considerable sum of money back then

[Buenchico]

It's roughly equivalent to a quarter of a million pounds today:
http://www.thisismoney.co.uk/money/bills/article-1633409/Historic-inflation-calculator-value-money-changed-1900.html

[Mosaic]

It isn't straightforward to compare then and now, as prices have not all gone up at the same rate and some things that were considered affordable then are vastly expensive now. Take cars as an example - car ownership was still a rarity and the few who could afford cars kept them carefully for years. Petrol on the other hand was rock-bottom in price by the standards of the day. Property was nowhere near as costly as it is now, but relatively few people could get mortgages. The sum you mention could have purchased outright 4 large semi-detached houses at the time - obviously in an 'average' area, not the poshest London suburbs.

[yelenots]

Thank you :-)

[derekpara]

I do like people who acknowledge answers.

Well done, Yel !

D

[Peter Pedant]

a truly huge amount - I hope she spent it well !

as a rough rule of thumb - 1914 one - 1972 decimalisation 10 and now around 100

so a multiplier of 25 would not be bad.

If she bought property - it would have done particularly well - see Lynda B
and buying education would have been good - Eton was only around £500/y.

even stocks and shares.

Dogs - war loan didnt do that well. - plessey ferranti Rolls Royce I am tryng to think of famous bankruptcies....oh, motor cars...

[yelenots]

Peter Pedant........thank you ........sounds like she was a very lucky lady!

[dance2trance]

It comes out as £274,700 in today's money in terms of money, but what it cd buy then is different e.g. houses cars etc wd be cheaper than now but it was a hell of a lot anyway way back then. .