The Importance Of The American Dream - 1628 Words

The American Dream, an ideal first defined by James Truslow Adams in the 1931 novel Epic of America. Adams (1931) defined the dream as, The American Dream is that dream of a land in which life should be better and richer and fuller for everyone... (p. 214). The dream of our ancestors has not changed with the passage of time, but achieving the dream has become much more difficult for the average American. Reviewing data compiled the last few decades paints a bleak picture, wage disparities have increased, savings rates fell, pension plan failures have increased, and benefits provided by private defined benefit plans and the US Government continue to see reductions. These sobering fact drive home the need to ensure your own financial†¦show more content†¦This lack of knowledge translates directly into lower saving rates and investment habits. Currently, less than 48% of adults in the Unites State has savings invested in stocks, one of the best potential options to accumulate funds for an emergency, or retirement. Various options do exist, however, to aid an individual uncomfortable with investing. A passive investor could utilize a broker, a broker is a representative who buys and sells investments on behalf of an individual. However, brokers can be quite expenses to engage as they receive commissions on each buy or sell transaction they execute. Using a broker has other potential drawbacks, an unscrupulous broker may engage in excessive trading to line their pockets with commissions, in a practice known as churning. In addition, a broker may steer you towards investments that are in the brokerage firms best interest, not yours. A potentially less risky option available for investing is to work with an advisor. An advisor provides recommendations, generally do not receive commissions, but receive compensation on a percentage of invested assets. Many excellent firms will provide investment advisory services, but these services often entail a range of fe es. The median fee range is, .50% for high net worth clients to 1.50% for clients with smaller account balances on top of hourly fees. Herein lies the bad news for those with smaller investment account balances, the fees charged are taking a muchShow MoreRelatedThe Importance Of The American Dream918 Words   |  4 Pagesthere are some individuals who want the American dream, such as non-Americans. Even though immigrants essentially founded the American dream as the thirteen colonies expanded, current bans preventing entry from certain countries and regulations attempting to deport others seem to rip that dream out of their grasp. Contrary to popular beliefs, the American dream is not the white picket fence vision we were taught in high school history. Instead, the American dream is the desire to live comfortably withinRead MoreThe Importance Of The American Dream1547 Words   |  7 PagesThe American Dream, an ideal first defined by James Truslow Adams in the 1931 novel Epic of A merica. Adams (1931) defined the dream as, The American Dream is that dream of a land in which life should be better and richer and fuller for everyone... (p. 214). The dream of our ancestors has not changed with the passage of time, but achieving the dream has become much more difficult for the average American. Reviewing data compiled the last few decades paints a bleak picture, wage disparities haveRead MoreThe Importance Of The American Dream918 Words   |  4 Pageswork through the American Dream, but for one American, Lilly Ledbetter, success has not always come that easily. While working for GoodYear, Ledbetter learned that she was earning less money than her male counterparts. In addition, she was being sexually harassed by her coworkers and punished with poor reviews when she did not comply with their suggestions. As a result, even though Ledbetter worked just as much, if not more, than her male co workers, she was not rewarded as the Dream promises. ThereRead MoreThe Importance Of The American Dream1321 Words   |  6 PagesFormer First Lady, Michelle Obama, eloquently summarized the American Dream at the Democratic National Convention in 2012. â€Å"Barack knows the American Dream because hes lived it...and he wants everyone in this country to have that same opportunity, no matter who we are, or where were from, or what we look like, or who we love. And he believes that when youve worked hard, and done well, and walked through that doorway of opportunity...you do not slam it shut behind you...you reach back, and youRead MoreThe Importance Of The American Dream916 Words   |  4 Pages During the 21st century, there has been a realignment of both social classes and habits due to the events of the last 20 years that make the American dream of the second half of the 20th century impossible to attain. According to Dictionary.com, the American dream is the ideals of opportunity, freedoms, and equality for all Americans. The Am erican dream can no longer be attained for many reasons, but one big reason would be that people of this generation’s interests are not the same of those ofRead MoreThe Importance Of The American Dream1363 Words   |  6 Pages its possible to achieve the American dream.† -Tommy Hilfiger. What is the American dream? How is it possible to achieve the American dream if there are large corporations ruining it for the companies trying to reach such dream? The American dream consists of the ideal that every US citizen should have an equal opportunity to achieve success and prosperity through hard work, determination, and initiative. What about those who are starting a new business whose dream is to become a large organizationRead MoreThe Importance Of The American Dream1231 Words   |  5 Pageswanted to be successful and powerful. The American Dream or the idea that everyone in the U.S. has an equal opportunity to succeed has been around since 1931. The problem with the American dream today is that in reality people don’t have the same opportunities as they used to. The American Dream may actually just be a dream with no real evidence to prove it’s true. Rana Foroohar, author of â€Å"What Ever Happened to Upward Mobility,† discusses why the American Dream isn’t the same as it used to be and howRead MoreThe Importance Of The American Dream1057 Words   |  5 Pagesthis country today don’t believe that the American dream is alive. Fifty-nine percent of those polled in June agreed that â€Å"the American dream has become impossible for most people to achieve. More and more Americans believe there is â€Å"not much opportunity† to get ahead†(Alternet). Many adults of the middle and lower classes American population no longer the American dream is no longer attainable because most if not all of the key elements of the American dream are no longer attainable. With financialRead MoreThe Importance Of The American Dream1732 Words   |  7 PagesTo achieve the American Dream, one must work hard and have the dedication to be successful. There are myths relating to this dream leaving lower class members to wonder if the dream exists for them. People in lower class are told if they want to be successful they must put in hard work and true effort. Once they do, they see that they are remaining in the same position they started in. In â€Å"Class of America-2012,† Gregory Mantsios states the ideas of class in the US and explains them. One myth addressedRead MoreThe Importance Of The American Dream773 Words   |  4 PagesThe American dream has changed drastically thru our history. Back in the 1950 and 1960 the American dream was to have the house with the white picket fence and the 2  ½ kids. Now the dream for a lot of people is to be able to pay their bills and maybe have enough money to go out for a nice little dinner that you did not have to cook yourself. The American dream is dead, it is because the concept has changed from the idea that everyone can improve their life through hard work to the idea that everyone