What will things look like, economically, here in New Jersey in five years as we approach 2030? What will be some of the things that the "middle class" in the Garden State will find hard to afford? Maybe by looking at these items we can start now to save and strategize so we can better afford these items in the future.


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According to some financial experts, these were 5 things that the "middle class" may find hard to afford by 2029:


1.  Extended family vacations.  Especially trips overseas.  But even just taking a week off to go to the beach is hard for a lot of people now.


2.  New cars.  Prices have gone up significantly in the past five years, and it looks like that trend will probably continue.


3.  Private school.  The rise in tuition is far outpacing gains in income.


4.  Enjoying retirement.  People who retire in the next five years might need to really rein things in to make sure they don't blow through their savings.  Especially because we're living longer than we used to.


5.  Homes.  Especially in cities and other high-demand areas.  It's just harder to afford a home now than ever before.



Unsplash.com Muhammadh Saamy


For me, the main item from these five is home ownership. It's the biggest expense and you have to determine a few things to make it happen or not. The first thing is do you want to own and if so what type of house and where? Is Jersey too expensive to own so you will want to move? Do you plan on having a job that is easy to relocate to?


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