The U.S. economy is expected to grow a respectable 3 percent in 2010, according to a consensus of economists who are polled on a regular basis by The Wall Street Journal.
What else do experts think will happen in 2010?

The Recession - Something most people will be looking for in 2010 is the end to the economic recession that began in December 2007. The average duration of each U.S. recession that has ended since 1945 was about 10 months, although the longest was 16 months.

Inflation and Interest Rates - Inflation is not expected to be much of a threat to economic activity and should remain in the range of 2 percent at least through 2010. And because inflation plays a dominant role in the Federal Reserve’s decisions on interest rates, it seems likely that rates will remain near their current levels.

Unemployment - As long as it remains above the 5-6 percent range, any economic recovery might not feel like much of a recovery at all. And yet, the jobs picture is expected to remain bleak. In The Wall Street Journal’s December 2009 economic forecasting survey of 51 economists, the average forecast was for a 9.6 percent national unemployment rate by December 2010.

Taxes: Income, Capital Gains, Dividends, Inheritances - A bundle of favorable federal tax laws that were passed in 2001 and 2003 are scheduled to expire after December 31, 2010. If Congress takes no action to extend these tax laws, we can expect higher tax rates on income (up to 39.6 percent from the current top rate of 35 percent), long-term capital gains (up to 20 percent from the current 15 percent rate) and dividends (up to 39.6 percent from the current 15 percent rate).

Financial Markets - The year began in the midst of a nasty bear market that took the Dow Jones Industrial Average to near 6,500 by March. It’s unlikely that you expected the market to recover to 10,000 by October and soon after would be posting year-over-year double-digit gains — yet that’s exactly what happened.

It’s a good idea to keep an eye on what is on the horizon, but it’s no substitute for following a long-term strategy based on your personal situation, risk tolerance, time horizon, and investment objectives.

These days, people are a bit cynical about making new year’s resolutions. And who could blame them? Although most adults (68%) admit to having made resolutions, only 17% usually keep them.

Even if you have gotten a bit jaded about making new year’s resolutions, don’t let it stop you from doing what you need to achieve your financial goals. In one recent survey, respondents cited financial obstacles as the number-one limitation standing between them and their dreams.

Maybe the poor success rate enjoyed by resolution makers has something to do with the fact that the most popular resolutions — losing weight and paying off debt — tend to be the most difficult. Here are three simple tasks you can do in the next year that could boost your progress toward your goals and dreams. They’re easy to accomplish, and you don’t have to wait until January 1 to get started.

Click here to continue reading.