1. 1. As you have seen in this chapter, a dollar today does not have the same value as a dollar in the future or a dollar received in the past. At the time of his death in 1937, John D. Rockefeller was estimated to be worth $1.4 billion. Go to the Bureau of Labor Statistics at www.bls.gov (Links to an external site.). Highlight Data Tools and select "Top Picks, One Screen, Multi-Screen, Maps, and Calculators". Scroll to the bottom and find "Calculators". Click Inflation calculator. How much would Rockefeller's fortune be worth in today's dollars?
   2. Now, let's consider a hypothetical situation where you are worth $1 million at the end of World War II. Using the calculator, calculate how much you would need today to maintain the same purchasing power as in 1945.
   3. Review the inflation rates
4. Assume that the rate of inflation for the next 30 years is the same as the last 30 years. The chart above goes to 2020 but 2021 saw a sharp increase. Research the current inflation rate. What inflation rate would you use to calculate how much will you need to have the same purchasing power as you have today? Explain your expectations for the inflation rate for the next 30 years and how this will impact you.