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Is the American dream still alive? (1 Viewer)

Do you believe in the American Dream?

  • Yes

    Votes: 9 90.0%
  • No

    Votes: 1 10.0%

  • Total voters
    10

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jhill9

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I was talking to a friend the other day and he told me that it is impossible for him to live the American dream of becoming rich because he wasn't born into money. Curious if that is how most people think or if people think that with hard work they can become rich.
 

steveb

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I think its more hard work and right time right place with some type of market innovation. Lets face it... you can work really hard and put in lots of hours on something people don't perceive a need for and you will be poor.
 

frankc

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I believe it is alive, but it takes sacrifices most people aren't willing to make. So many have to have the latest phone, TV, new car etc. all the time. When I started out, I lived in a cheap apartment in the Gulfton Ghetto area, did without cable TV, drove the same car for 13 years, etc., so I could save and invest over 50% of my income. Now I can enjoy driving my classic Aston Martin, have a nice house and tanks - things my coworkers can't do even though they make the same money I do, but they manage to spend it as fast as it comes in. Of course, I did have some advantages - my parents paid for my college, and perhaps more importantly, they led by example and taught me the value of saving and investing.
 

txmarlin

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I totally agree with both.
Just imagine how hard it is in todays scenario with insurance,payroll taxes,IRS,State Franchise taxes,fuel costs,coworker rights,eeoc,osha,lawyers and several other you have to take out before you even think of putting any money in your pocket.
Now you have to compete with a foreign country for same product or service in many cases without all of those road blocks to get started.
With those facts to contend with to your friends point it makes the American dream nearly out of reach.
On the other hand though good ole American hard work and ideas are alive and well just the odds are stacked against them that smaller percentages are going to live the dream.
JM2cents
 
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jhill9

jhill9

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I believe it is alive, but it takes sacrifices most people aren't willing to make. So many have to have the latest phone, TV, new car etc. all the time. When I started out, I lived in a cheap apartment in the Gulfton Ghetto area, did without cable TV, drove the same car for 13 years, etc., so I could save and invest over 50% of my income. Now I can enjoy driving my classic Aston Martin, have a nice house and tanks - things my coworkers can't do even though they make the same money I do, but they manage to spend it as fast as it comes in. Of course, I did have some advantages - my parents paid for my college, and perhaps more importantly, they led by example and taught me the value of saving and investing.

I need pictures of Classic Aston Martin!

My life seems very similar to yours. Parents paid for college but once you graduate you are on your own. Lived in an apartment with only an air mattress, small tv, and a DVD player since I didn't have cable because I never made much money. Even today I have never found anyone to pay me a lot of money to work for them but I have learned to live WAY below my income so I have money to invest. Now I am finally starting to see that sacrifice pay off.

I think I am living the American Dream and was shocked when my friend told me that it isn't possible.
 

BlackSS

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I say yes, but it's dying. Too many regulations for the little guy to get a good start.
 

dayton

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Voted yes. I will say I owned a small business a year or so ago. Parents paid for college, I will have an inheritance, so I am not horribly worried about being completely broke. I too started out in a one bedroom apartment with my fiance down off gessner and 59. While I owned my company, I had issues that others have mentioned; insurance, IRS, state, fantastic companies that loved to rack up big bills and then slow pay. After losing 30k+ I decided enough was enough. Sold the biz and was hired at a bank.

Work hard, plan ahead and wise investments will have a big impact. Make money with your money!!!
 

BigRick

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Very hard to do without financial backing these days. Way too many sharks out there to take your innovative ideas. And world economy with technology being reached to everyone across the globe its just more people to compete with. You definitely wont make it if you don't bust your butt or get lucky with the lotto. What happened to $1 gas, oh nothing really just the dollar got weaker to the rest of the world.
 

Mark L.

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I make decent money, own a nice home, have a wife of 24 years, two awesome children, a few vehicles, reef tank, investments, retirement, food on the table, and great health. I feel I'm living the American dream. It's all what your dream is. Mine is to live comfortable, have a healthy family, and decent career. The American dream doesn't have to mean being rich. :)
 

Diesel

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I make decent money, own a nice home, have a wife of 24 years, two awesome children, a few vehicles, reef tank, investments, retirement, food on the table, and great health. I feel I'm living the American dream. It's all what your dream is. Mine is to live comfortable, have a healthy family, and decent career. The American dream doesn't have to mean being rich. :)


Well said Mark :clap3:
I will ad to it, what's the American Dream.......................:Thinkingof_:


Sure we all know financially taken care of will help a little.
If you’re willing to work hard, you can be successful and build a good life for you and your family.
That’s what millions of Americans have believed for generations.
But is it still true? :confused2:
So..........what’s happening to the American Dream? :help:
Some say that the American Dream remains a beacon of hope, but many more say they believe that the dream is dead...................:nite:
Then there are those that say somewhere in the middle, who believe the dream is still alive :noidea: but needs a lot of work.
Years ago, wasn't the American Dream all about owning your own home, free and clear?
Today, according to these responses, you would be correct in assuming that the idea is more about simply surviving. :boxing:
The goal almost seems just to be able to make it to retirement...:rockon: and then you can breathe and relax.
What was your dream 10 years ago? :help:
What is your American Dream now? :yield:
If you were like most people who would have answered this question even just a few years ago, the responses certainly would be a lot different.
Just what Mark said, most likely, it would certainly have involved owning your own home. :nod:
There would probably also have been 2 kids or more ,:preggers: a few cars :3gears:in the garage (paid for), and a comfortable and secure retirement. :loveit:
It would seem the younger generation has lost quite a bit of this optimism :bricks:
It is interesting to know that just before the crash, the ideas were quite different.
Instead of simply looking forward to making it to some type of retirement, the young people of that time felt getting rich was their top priority :caked:
Making money fast in a short time.......:boom:.......is that the dream?
The economic downturn seems to be primarily responsible for much of this resulting pessimism.
The average student will graduate from college owing $27,000 in student loans :wahoo: as my financial adviser told us just a week ago
Not to mention that most young people of today may not have good examples of financial responsibility to observe, as many parents are
upside down on their mortgages :twreck:
Since it seems more and more people are struggling with basic financial stability, maybe these new attitudes to what the promise of America holds are simply natural.
They are, after all, simply expressions of our outlook for the future :trueconfirmed:
There is no doubt that the economy is in trouble :quote:
No matter what Obama and the talking heads on TV/WWW try to make you believe, you're not stupid you know what you see.
Don't want this to bring it in to a political No-Bama rand :smiley_abus:
We simply don't know anymore what the American dream is about.
Country is changing and your view on that dream is changing with it.
Maybe it's time to live your own dream, one step at the time :agree:
Pay off your bills first before you buy high dollar luxury like expensive corals from me, LOL! :tmi:
No kidding, stick with your goal, if you have one.
Still putting at least 10% of your net income in some kind of savings, financial market?
Just look at your own situation first, look into your history, what have you done in the last 10 years and what can you do in the next 10 years?
Cause living the dream doesn't come overnight, it's a process and it need adjustment all the time :turboink:
I'm not here to tell you how to plan your future/dream, you know if you on track or not.
More importantly is do something about it, not saying go back to the apartment and ramen noodles but tell yourself, something that cost you money and not secure it for you need to simply go for awhile, aiming at a nice car, vacations, hobbies, just a few but there are tons more that can save you money and secure it for your dream to come.
Ok, I was on the :soapbox: to long, enjoy your fifth day of a wonderful year :wave:
 

steveb

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I make decent money, own a nice home, have a wife of 24 years, two awesome children, a few vehicles, reef tank, investments, retirement, food on the table, and great health. I feel I'm living the American dream. It's all what your dream is. Mine is to live comfortable, have a healthy family, and decent career. The American dream doesn't have to mean being rich. :)


Well said Mark.

When I graduated from A&M my goal was to be a CIO. It appears I aint gonna make it, but that is ok, and I don't have the healthy part but my wife and kids are 100%... My house, cars (I tend to keep vehicles 10 - 15 years) and 2.5 acres in N. Carolina are paid for (future retirement home site). We are managing to pay for my sons college with cash, and have very little debt (still owe a little on the wife's student loan and ONE CC balance goes up/down with unforeseen items not budgeted for), paying 400/month for pitching/batting coaches and select team membership for my daughter (luxury?), managing to put 10% aside in savings and the market, and helping my fellow man by giving to some charitable organizations. Not bad I think. Not getting rich though.

I am more pessimistic than I used to be (more taxes more regulations) as I feel our government is very much encroaching upon our freedoms and the burden of that encroachment stifles the American dream, or maybe its just age LOL... Global competition and regulations definitely make it more difficult to start a business from scratch and my hat is off to all of you that own your own business. If I could turn the clocks back the one thing I would change is I would have tried to start a few businesses. Working for the man sucks...
 

BigRick

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Well said Mark :clap3:
I will ad to it, what's the American Dream.......................:Thinkingof_:


Sure we all know.....
Pay off your bills first before you buy high dollar luxury like expensive corals from me, LOL! :tmi:
No kidding, stick with your goal, if you have one.
Ok, I was on the :soapbox: to long, enjoy your fifth day of a wonderful year :wave:

Ahh man I dunno if I should get them sps now lol.
 
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jhill9

jhill9

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I agree that each persons Dream will be different from the next. The conversation with my friend was about money which is why I mentioned being rich. He stated that it is impossible for him to become a millionaire. When you look at the statistics I can fully understand why he would think that because if it was "easy" then everyone would be a millionaire. Problem with my generation and the younger generation is I don't think they have an understanding of money and it defiantly isn't taught in schools.

If you invested $200 a paycheck by the time you retired (30 years) you will be a millionaire or close to it. I look at that and think that is easy to do....maybe I am weird in thinking the dream is possible.

On another note I do believe that our society has become a lot more materialistic.....Maybe this topic should be saved for another date.
 
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jhill9

jhill9

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Invest in whatever you want.

Stock market always goes up with time. As long as you can weather the ups and downs then you will do OK. 2013 had returns over 20% in the stock market, and if you know what you are doing your returns were a lot better than that. My 401K has done great without me doing anything.

Rental houses are good investments also. You don't have to manage them either, just hire a property management company to do everything. Or partner with someone that is already doing it.

I know people that buy cars for cheap, put a little bit of work into them and sell them to make a profit.

Find a business owner that you trust and see if you can invest with them. I had a friend invest in my house flipping business. He does nothing and will get a great return.

Lots of options out there besides CD and savings accounts but you have to be willing to have a little bit of risk.

There are tons of investment opportunities if you look.
 
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