Are you better off than you were 4 years ago? 8 years ago?

[LAJennifer]

Just wondering.

 

[LaraOnline]

Absolutely!
But we stayed at uni forever, so were slow starters. My husband turns 40 next year, we feel that we are only just arriving at 'comfortable' ... with a few financial issues still to sort out (business related). Hopefully our 50s will be the 'investing years'!

 

[SarahLovesJS]

Not any better...not any worse. Same.

 

[TravelingGal]

Yes and yes.

 

[miraclesrule]

That''s loaded question. Also, a complicated one.

I am better off financially (well, that''s debatable now after my daughter''s wedding), but I am definately not happier. I miss all the people I used to work with, the teamwork and inclusion and respect as well as the environment I used to work in (a large hotel with lots of space and freedom and pretty surroundings). I just feel like a caged animal in the place I work now.

 

[LaraOnline]

Date: 9/20/2008 11:13:48 PM
Author: miraclesrule
That''s loaded question. Also, a complicated one.


I am better off financially (well, that''s debatable now after my daughter''s wedding), but I am definately not happier. I miss all the people I used to work with, the teamwork and inclusion and respect as well as the environment I used to work in (a large hotel with lots of space and freedom and pretty surroundings). I just feel like a caged animal in the place I work now.

Oh, that''s too bad. I guess looking at the question from this perspective, yes, it is more complicated than it at first appears. I work from home now, and although it''s more convenient with the kids, it can also be pretty isolating.

 

[Daydreamer7130]

Absolutely NOT!!

Although I have worked steadily, my paycheck raises have not kept up with the cost of living. So, in reality, I maybe making more money per hour but I am having to work more hours to pay the bills. My dollar seems to be only worth 33 cents now.

 

[Rhea]

I''m better off, but I''m also in my mid-to-late 20s so comparing where I am to 4 to 8 years ago isn''t really helpful in my situation.

 

[colormyworld]

I think a better question would be. Does our future look better than it did four or eight years ago?

 

[LAJennifer]

Date: 9/21/2008 9:08:25 AM
Author: colormyworld
I think a better question would be. Does our future look better than it did four or eight years ago?

Ok - my answer is very much so.

 

[vespergirl]

I am better off, but I started working for private companies instead of non-profits. I have actually been staying home with my son for the past two years, because my husband has been doing very well at work. His company gets a lot of large government contracts, so since Bush has been spending like crazy for the last 8 years, his company has done very well with military contracts.

 

[HollyS]

Yes. I am. The tax cuts, and bigger refunds have helped me (middle income bracket). Now if the stock market will get a grip, my 401K will recover. We definitely need some reforms there.

It''s no secret I''m a capitalist; but we do need some oversight of our major banks and lenders who have created the housing crisis. Greed is not capitalism. Shortselling stocks is not what is best for the overall economic health of this country, and needs to be reigned in. There are problems that need immediate addressing to shore up these institutions, regardless of the hysteria from the Dem side of the fence about what their tax dollars are doing for the wealthy. If we don''t, we will hurt many ordinary Americans who have investments, 401Ks, mutual funds, etc; they are relying on these for their retirement. And the businesses they have their stock in are major employers, as well as major suppliers of goods to all of us. The ''let them eat cake'' attitude of the Dems on the other thread here is shortsighted, unrealistic, and dangerous . . . for all of us.

 

[partgypsy]

I also ditto it is a complicated one. So many things have happened in the past 8 years it almost seems like a lifetime. Way too much to even explain.
I would say 8 years ago I made less money, but was more hopeful, happy and carefree. Today I make more money, but feel more concerned about the future for both myself and my children. Also my father, who is a big figure in our family, in his entire 40+ years as a small business owner (restaurant), has suffered two times of business failure. The first was in ''87, ''88, the second is 2007-2008 (now). The first time he was able to crawl back and work hard, pay back 100''s of thousands of debt to eventually own his own restaurant again. This time he is 74. So while I am doing (financially) better, the way I look at things, are we all doing better, collectively than we were 4, or 8 years ago? While some of us are doing better I am not an island.

 

[strmrdr]

no and no: due to heath, injury and job issues.

 

[snlee]

Yes and yes. Definitely.

 

[Anna0499]

Well, 8 years ago I was only 17 so I would have to say most definitely! 4 years ago I was 21...college was so much fun but law school is fun in a sadistic way. My outlook on life is better than ever financially, socially, health-wise, and otherwise.

 

[AGSHF]

Tax Cuts v. Market Woes:

I grant this is not an apples-to-apples comparison, but I thought it was eye-opening.

I just did a quick look-see at our portfolio value, which was something I''d been avoiding since the "massacre" of the recent past. At just one mutual fund company, the value of the portfolio there was down about 16% just since 12/31/07. And these are not go-go funds, but largely broad market, large-cap funds.

Then I did a quick calculation of the tax savings we''d had since the Bush tax cuts took effect which, admitedly, were beneficial to us due to our marginal tax bracket and the reduction in tax rates for qualified dividends and capital gains.

It was no contest: market losses were FAR greater than the 7 years of tax savings (almost 2 to 1), and our tax savings each year were significant. If, as one could argue (and which is my belief), the policies of the past 8 years have resulted in a the financial market crises and economic problems we''re experiencing today, not to mention the huge national deficits incurred and being incurred for the Iraq War and, now, the WS bail outs, then I would gladly have foregone the tax cuts. (And I didn''t vote for Bush in 2000.)

Also, I''m not sure what folks think will help their 401(k) balances bounce back if the feds hadn''t stepped in to help bail out the financial system.

 

[LaraOnline]

Costs of living have definitely risen, so my grocery and bills money doesn''t go nearly as far , I have to admit that.

 

[qtiekiki]

Date: 9/21/2008 5:33:50 AM
Author: Addy
I''m better off, but I''m also in my mid-to-late 20s so comparing where I am to 4 to 8 years ago isn''t really helpful in my situation.

Ditto... I was still in college 8 yrs ago, and 4 years ago, I was working at a flower shop.

 

[dragonfly411]

I''m too young to know lmao. I''m 22, and financially I''m better off than I was right after I graduated, but otherwise..

 

[zoebartlett]

It IS a complicated question.

Eight years ago, I had just begun grad school, and it was an exciting time. I had left my job in publishing and was living off of student loans since I was a full time student. Financially, it was nerve-wracking. I was very happy to be a student again though, and I loved grad school. When I graduated, I entered the world of teaching.

Four years ago, I was just starting to teach at the school I''m at now. I was happy to get a job in my district, although I had to move away from the area that I went to grad school in and LOVED.

Financially, I''m in a much better place than I was while in grad school. My husband and I are trying to save for a house, and the prices of houses aren''t coming down as much as we''d like. So while we''re doing better than we were years ago, it''s still an uphill battle. Everything is just so expensive!