Little is known about how adolescents in the developing world think about their futures. This study examined the content of 803 Colombian adolescents‘ thoughts about their future. Some differences in terms of aspirations, expectation, fears, and perceived obstacles were found, primarily by age and gender. Structural Equation Modeling was also used to examine the relationships between individual, interpersonal, and contextual factors that may affect adolescents‘ future expectations in the human capital and socioemotional domains. The predictors of the two types of future expectations were somewhat different, but not as different as hypothesized. Family socioeconomic status and gender had a direct relationship with human capital expectations but not with socioemotional expectations while perceived social support from family and friends had a direct effect on socioemotional expectations but not on human capital expectations. Achievement and perception of opportunity were significantly associated with human capital expectations and with socioemotional expectations, which was unexpected. The model seemed to work equally across different schools and for boys and girls. The need to conduct further research using other methodological approaches and including other contextual and individual variables is discussed.