HAVE THE RECENT ECONOMIC CHANGES made you rethink your 10 yr. plan?

[SKR8PN]

I thought of this thread this morning,while I was visiting with one of my cousins. Jeff has always been a very hard worker,but he has also played as hard as he has worked. He is just over 42 years old, has already raised his 2 kids from wife #1, is paying for a 10 year old from wife #2 (that is another story all by itself!) and a 5 year old with wife #3.
He helped to start a company a few years back that has become very successful. To bad he let his "partner" more or less shove him out. He is still being compensated for his portion of the company, and he still works for the company, but now has to run a crew instead of running the company. He told me this morning that he has lost over 100,000 dollars in his 401 account So much for HIS retirement!

 

[Wifezilla]

We have one pear tree and one of our neighbors must have one or we wouldn't be getting fruit It has produced some good pears, but we have a hard time getting them before the @()*@#@)!! squirrels.

Our apple trees just started setting fruit last year...we have 2...and there were only a few. Again, squirrels got them.

This year we have Jack though. Our drake does NOT like to share HIS yard! The 3 cats are useless, but the freaking DUCK is keeping out the vermin!

 

[1acrefarm]

I plan to do the best I can however I can. Things are only getting worse. http://money.cnn.com/2009/02/23/markets/markets_newyork/index.htm

 

[freemotion]

Wifezilla, we had a pear tree where we rented previously, and an apple and a cherry. We had issues with the birds eating the pears right out of the tree. Then someone said to give the birds water, as it was an unusually dry year. I put a birdbath out for them, and the pear-eating stopped!

I've read that some pears will produce without a pollinator but the crop won't be as big.

 

[Beekissed]

I don't see many people in this area making any changes in how they live, even with the grim national picture and rising food prices. One lady at church is getting rid of her chickens! Says she doesn't want to fool with them anymore....

The other lady that gave me the canning jars and canner says she will "never can anything again".... I think she feels like her money will see her through? This is also the couple that gave me several huge sealed tins of red turkey wheat and a wheat grinder, a juicer, a food mill, and additional canning equipment. (same people went on 3 cruises and a riverboat excursion this year! )

Folks around here are still buying houses and new vehicles, antiques and other big ticket items. I have, however, seen the local real estate market drop....to the prices it should have been in the first place!

People seem slightly worried...sort of like they get when a big snow storm is coming...they talk about it, speculate what will happen, maybe go to the local store and buy some fresh milk, eggs, etc. But no real preparation for high prices of food, fuel, etc.

Makes one wonder if they are living on the same planet.....

 

[On Our own]

Bee I feel the same way. People around here are like "Recession, what recession?"

They talk about cutting back, but I do not see any of them doing it even though I KNOW some of these men have lost their finance jobs. But, only one fessed up to actually being unemployed. But, what did they do? He loses his job so they go on a ten day cruise! I dunno.

 

[Beekissed]

I guess they feel its like rearranging the deck chairs on the Titanic, to try to form a plan.....

 

[PamsPride]

Bee I feel the same way. People around here are like "Recession, what recession?"

They talk about cutting back, but I do not see any of them doing it even though I KNOW some of these men have lost their finance jobs. But, only one fessed up to actually being unemployed. But, what did they do? He loses his job so they go on a ten day cruise! I dunno.

I hear ya! A friend of mine just got his permanant layoff notice from GM. They are going on a one month vacation to Florida!! Of course he gets one year of unemployement at 90% of his pay! Must be nice, huh?

We are not really doing anything different...just plugging along like always. We just are not planning anything big in the near future...no vacations, no big ticket items, etc....

 

[keljonma]

Pam, as part of the recent automotive sector hoopla, your GM friend lost all his medical benefits. If it were me, I would think I'd want to put something aside for those costs. The one insurance package that was being offered to GM "retirees" is now on hold with the government and can't be sold. (It's driving my boss crazy.) The plan that is supposed to be available this fall is said to not be as good.

I would say a small vacation isn't inappropriate. It depends on the person's individual situation. It is possible to look for housing and employment while "on vacation". I know this from personal experience.

We were in year 4 of our 5 year plan when our bottom dropped. We are downsizing and "closing ranks".

In our area, there are many people hurting. I think it will only get worse for the people in cities who rely on agri-business to provide their food.

 

[Wifezilla]

In our circle of friends, 2 are on disability, 3 work for the city, 1 works for a medical device manufacturer, 1 works for a busy city owned hospital, 1 is union, 1 is a paralegal, 1 is married to a contractor who is retired military, and another is a defense contractor.

Regardless of the economy, they will be fine.

Us, our mortgage broker buddy, and some of our realtor friends are really feeling the pinch, but there are so many people who are insulated.