Your economic outlook for next 5 years

[Fern]

What is your economic outlook for the next 5 or 10 years?

Overall, are you positive or negative about US economic growth, and are you doing anything on a personal level to prepare for that in terms of energy, real estate values, rising consumer prices, job outlook, the cost of healthcare or anything else.

For my part, i see only a continued squeeze on fossil fuel prices. That, and the recent election of Hamas group i believe will exert a tremendous destabilizing influence on energy prices in general, with a big impact on the economy. I also don't think the billions being spent on Iraq, with questionable progress to date, is a wise investment and i predict the next US president will be a Democrat.

[sweeps]

I think anyone that's looking for a free ride will probably find the economic outlook pretty bleak. But anyone who is working hard, improving themselves, saving their money and maintaining a balanced portfolio will do very well.

[jmjj215]

I agree with Sweeps. I'm optimistic, full of faith, and looking forward to a properous future for my family.

[Snoopy2645]

I have a positive outlook on the future hoping its so bright I have to wear shade JUST KIDDING!! But I am positive about it hoping to pay some small bills with tax refund in feb. And then pay off mortgage by Oct 1st I will be 30 at the end of sept so want it paid before I turn 30!! And maybe back to work ft with the kids in 6th grade & one in kindegarten & the other starting preschool so think it will be time to go back to ft.

Next I will start back to saving & when I get a big enough cushion start back to buying things I want once in awhile

[jmjj215]

You just might need some shades Snoopy! No mortgage before you're 30! Woot woot!

[Snoopy2645]

YA I am hoping for that its been hard at times though to watch people blowing money on boats & fun stuff like that. I have seen lots of that. And friends who are just out having a good time all the time its been very hard. I have also though at times seen those same people down & out thats when I know my work has paid off ya know I guess if you have a fun too much it will cost you.

[cercis]

I expect it to be some better for me. My current job is secure and the worse the economy gets, the more secure certain aspects will be (I do foreclosures as 25-50% of my job).

My kids will be in school full time starting in August, so I won't have to shell out $500/month for childcare.

I've got DH onboard with paying off debt and living a cheaper life.

[nanamom]

I'm looking on the positive side. In the next five years we will be debt free, unless we buy a house. (we move alot and it hasn't been possible so far) We plan on investments for DS#2 college (started) as well as other siblings that may arrive, continuing to increase our IRA percentage every 6 months (done twice so far), and being able to take vacations with grandchildren and children without using CC.

[Lemony]

I think I, personally, will be fine as our situation improves everyday. I think the Americas in general, though, will continue a downward slope. That is, unless people improve the savings rate and start paying back some of their debts. But if they don't, it ain't my problem.

[PRICEPLUS]

I believe the words of Franklin Delano Roosevelt are as appropriate now as they were when he spoke them those many years ago; "We have nothing to fear but fear itself!"

[jeffcovey]

i think it's a better time than ever to make sure you're invested not only in the u.s. economy but in the markets of the rest of the world. for me, that's vgtsx as well as vtsmx. our time as the only superpower gets shorter with every day in iraq.

[Ima saver]

I have a positive outlook on my future.

[Fern]

Wow, you all have such positive outlooks. I am hopeful too, of course, but when i read the papers it's sometimes too discouraging to continue.

These really do seem like tough times to live in; i'm not talking so much on a personal level, but just seeing what's going on all over the world. In this sense, i am glad i don't have children because i would be concerned about what they will face.

[Ima saver]

The greater part of our happiness or misery, depends on our disposition and not on our circumstances. I prefer to have a happy disposition and look on the bright side of things.

[contrary1]

I solve it by not reading the papers! Save money too. I have certain news topics sent to my desktop which keeps me in the loop for current events, but I don't have to wade through all the bad news to get to things that I'm interested in following.

[sweeps]

Originally Posted by contrary1

I solve it by not reading the papers! Save money too. I have certain news topics sent to my desktop which keeps me in the loop for current events, but I don't have to wade through all the bad news to get to things that I'm interested in following.

I think President Bush does the same thing.

[PrincessPerky]

On the outlook, for the next 5 years I have a better finance brain on my hea, so whatever happens I will be better off than the last 5 years.

[jmjj215]

Perhaps this is a bit unrelated, but there's an interesting article in the WSJ about the Federal Budget. We should take a look at the federal budget, and make sure our budgets aren't anywhere near similar. They have very little room for discretionary spending, something like 84 cents of every dollar is already committed to one of these segments of the pie. This will have an effect on our personal economies in the next five years.

[jmjj215]

Notice how the 'supplemental funding' for Iraq and Afghanistant aren't even included in the Defense and Homeland security pie. $217 billion every year just to service our debt.

Um, this is kind of funny. Looking at the print edition, the Medicare-Medicaid section is $415, but online, and in the image above, it's $582. What gives there? Hmm, also the Other category in the print is $498, while in this image above it's $300.

[Fern]

Originally Posted by contrary1

I solve it by not reading the papers! Save money too. I have certain news topics sent to my desktop which keeps me in the loop for current events, but I don't have to wade through all the bad news to get to things that I'm interested in following.

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