The American Dream War – Part 2

DreamExplode

It’s sad that the “American Dream” is so far out of reach for so many.  The economic war is brutally vicious, rendering millions dependent, insecure and depressed.  However, for the lucky or the strong, smart and determined few, the American Dream is still a reality to be lived in the midst of today’s financial carnage.

The single most important factor in the war is “cumulative advantage”.   People are born economically disadvantaged (poor, single parent homes in high crime/bad school neighborhoods) or economically advantaged (non-poor parents with good values).  Over generations, these advantages and disadvantages cumulate.   Parents give their children an enormous boost up the economic ladder with lifetime and post-death gifts of a college education, moral values and assets.  Disadvantaged children have to work exceedingly hard against increasingly bad odds.

The lifetime financial journey is difficult, even for the relatively advantaged.  There’s no secret.  It takes hard work, persistence, luck and the discipline to build wealth by living below your means.  A War Chest includes money for a rainy day along with the weapon of rugged individualism.  My clients lock down what they’ve accomplished with insurance and legal documents so their assets and lifestyle are safe, no matter what.   Stay calm, resolute and enjoy the challenge!  If life was easy, it wouldn’t be so exhilaratingly fulfilling when you achieve the American dream.

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