Apparently many Americans see themselves as better off now than they were seven years ago during the last economic downturn, according to an online poll administered by CNNMoney.
Personally I am much better off now than I was in 2001. My savings and retirement contributions have increased dramatically, I’ve gotten several promotions and raises, and I’ve entered the real estate market – with fixed rate loans that I can afford even if I suffered a decrease in pay or short term lay off. I’m excited and optimistic about my future prospects, and I’m not really worried about the economy (most days at least). I have plenty of time to ride out any storms.
Some of the increase in my standard of living and financial status can be attributed to hard work and making financial success a priority. But I also am in my mid 20’s, so it doesn’t take as much to be “much better off” – seven years ago I was a college student working for $8 an hour with minimal retirement or liquid savings.
So what about you? Are you better off now than you were in 2001? And to what or whom to you attribute the change in your situation?
More from Meg at The World of Wealth