How far can you stretch a dollar? Over 6 in 10 Americans feel their purchasing power in relation to prices is decreasing – and their money doesn’t go as far as it used to (82%), according to Empower research.

Remember when $1 could buy…

🎟️ A movie ticket ($0.86 in 1963)

🍫 6 chocolate bars ($0.90 in 1973)

🍳 A dozen eggs ($0.97 in 1981)

🍎 One share of Apple stock ($0.94 in 2004)

Still, today a single buck has some bang. It’ll get you enough water for 9 showers, a week’s worth of digital news, or 10 coffees brewed at home.

In for a dime, in for a dollar.

— The Editors

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20 years in the making: Here’s a look at how far $1 goes.   

$1 can make a big difference: In last week’s poll, 37% said they'd give up soda and 29% would cut gum from the shopping list if the price ticked up by just a dollar.

💐 “Say yes” to the surcharge: The price tag for hosting a wedding is getting bigger, with everything from cake (+20%*) to invitations (+24%) and flowers (+23%) more expensive than 4 years ago. According to Empower research, the average amount people plan to spend on a wedding is $31,281.Yet, more than 2 in 5 Americans (42%) don’t think a wedding is worth the splurge and the majority (74%) would not go into debt to pay for a wedding.

💰 A gold rush: For the first time in history, a gold bar is worth $1 million*: Twenty years ago, the same gold bar was worth $164,000,* appreciating in value by 515%. Since January 2024, the precious metal’s value has skyrocketed more than 20%, and 1 ounce sells for over $2,500. Investing in gold can be a useful tool for portfolio diversification as its price generally moves in the opposite direction of common investments like stocks and bonds.

🤑 Generation $$$ boom: Millennials are now 25%* wealthier than previous generations were at their age, with real estate being the biggest driver of growth (Millennials’ housing wealth has grown by $2.5 trillion in recent years). The median household net worth of older Millennials jumped to $130,000 in 2022 (up from $60,000 in 2019), and in Q1 of 2024, the collective wealth of Millennials and older Gen Zers climbed to $14.2 trillion. According to Empower Personal Dashboard™ data, Millennials have an average net worth of $317,378, which is up 13% from just two years ago.

🏠 Renters get a boost: Landlords are now offering rewards to renters who pay their bills on time. More than 2 million* renters across the U.S. are receiving incentives like 2% cash back or points redeemable for home goods and gift cards. Empower data shows more than two-thirds of Americans (68%) say new houses are getting smaller, but not cheaper, so these rewards are a small boon to help Americans stretch their dollars further. 

Going places: Robotaxis

Waymo – Alphabet’s driverless vehicle venture – is now booking more than 100,000* paid rides per week – double the volumes reported by the company in May. Alphabet recently announced it will invest another $5 billion in its 700-vehicle fleet.

The cost per trip is similar to other rideshare options, and uptake is highest in San Francisco compared to the other three cities Waymo operates in: Phoenix, Austin and Los Angeles.

According to Pew research, 37%* of Americans would ride in a driverless vehicle, with adults under the age of 50 about twice as likely to be open to it (47% vs. 25%). 

Game, set, multi-millions

Jannik Sinner and Aryna Sabalenka claimed tennis’ US Open singles titles, each leaving the court with $3.6 million* in prize money.

All players took home a participation prize this year: Reaching the first round of the main draw paid $100,000, a 23% jump over the 2023 amount.

But what about Grand Slam fans? Tennis lovers served up their dollars for a taste of the action:

📺 $11 – To watch the courts from your couch via ESPN+*

🍈 $23 – The price of sipping on the specialty beverage Honey Deuce*

🧢 $40 – To rock the US Open court cap*

💺 $56,000 – A courtside seat* at the all-American men’s semi-final 

Summer surge

Almost half (44%*) of 16–19-year-olds were working or seeking employment in July, up from 33.8% in January. Young Americans’ hourly wage hit $15.68* in June, up more than 36% from the start of 2019 and outpacing the growth rate for workers of all ages.

So, what are young people doing with their summer gig earnings? Empower research shows cash is king for Gen Z investors – those in their 20s hold more assets in cash (30.8%) than any other age group under 70, and keep around 42% of their portfolio in U.S. stocks. They’re more likely than other generations (34%) to use cryptocurrency in place of cash, according to Empower research.

Young people aren’t wasting any time to plan for retirement at their preferred age of 54 years old: 82%* of American Gen Z investors said they began investing before they turned 21.