American Dream

[diapered dan]

Everyone wants to live the 'American Dream', but few are willing to do the work and make the sacrifices necessary to live it.

I am one of the few, retired early,own my home (no mortgage), have enough income to stay happy for the forseeable future.

All it takes is hard work (35 years blue collar type) and sacrifice;

Vacations can be counted on one hand and they were inexpensive.

Buy nothing that is not absolutely necessary and PAY CASH! The interest and fees are better off in your pocket than the bankers. This incudes everything except your home and every effort should be made to pay it off in less than 15 years. We have each had One new car ( mine is now 23 yrs old and hers is 14, we still are driving both of them but saving for a newer one.) Toys are not a necessity.

Save (we put both of our boys through college, paid cash no loans, both earn more than their parents).

Dave Ramsey said it best Live like no one else now (extremely frugally) so that later you can live like no one else (comfortably).

Enough soap box oratory, Stay diapered, wet and happy.

[ldatsea]

the only way to live!

debt means no Freedom you ARE a slave to your lender !

the American dream cant be given from the Government

the more Government "helps" the less likely anyone can obtain it!

[square_duck]

This is echoed here in a MF article.

Essentially, it's saying become financially aware and educated, and live below your means and save and invest to become more independent.

http://www.fool.com/investing/general/2011/08/09/i-dreamed-last-night-an-essay-from-david-gardner.aspx?source=ihpsitth0000003

[Necros]

I respect your choice. I'm also happy that your happy.

As for the rest, the "American Dream" is waaaay too materialistic for my life style. Not that i want to offend you but what if you got hit by car and died at 33 years old? A lot of good that hard work and sacrifice did huh ... thankfully this is not the case but you can see what i mean.

Why do people think hard work has to equal suffering and sacrifice? I don't know what you people do to get jobs but down here we go to university, get a bachelor, get a masters, get a job (in my field a job that requires i travel a few places in the world) and make a ton of money. I don't consider myself rich, i don't consider myself poor (well maybe now since I'm still a student) but above all i consider myself happy where i am and don't feel I'm sacrificing anything to live like this. I party once in a while, and i even plan on going to Turkey for 2 months next year! I find, for 35 years of sacrifice and hard work like you said the "American Dream" almost seems like fool's gold.

As long as your happy with what you have that's all that really counts but i plan on living my life to the fullest without giving up 35 years of my life for the "American Dream".

I hope you will travel the world now that you've retired at the very least, you still have a few good years don't waste them!

[ldatsea]

i dont think you understand the american dream..... the american dream is to work how you want, where you want, and be able live how you want and where! if you want to own your own smoke shop or start a multi-million dollar corporation... you want to live in an apartment or mansion all of those options are open to anyone willing to make an effort, take a risk... .

[Diapered Jason]

I managed to get a bachelor's degree from a decent university a year ago using a very good method that cut my overall tuition bill in half. I received an AS from a community college, which I transferred to the university, where I was able to finish my bachelors two years later. I did not have any money saved up for college and neither did my parents, so I was surviving off of loans, but I only accumulated about $40,000 in loans. Also, the tuition for community college was free for me.

Going to a university without community college, the loans would have been at least $80,000, but now the price of tuition at the universities is rising about 14% each year, so community college may actually be a better way to go than before. Whether or not that will be the case in the future, I do not know, as community colleges in my area are facing significant cuts.

Relatively speaking, I am in a great position debt wise. We shall see how things turn out in the next few months.

[sarah_ab]

i took a class last semester of undergrad about chasing the american dream when im at home ill put of the title of two of the text books they were both quite insightful on this topic.... if was interesting because the age range in the class was from 18 - 67 and the professors were not the oldest people in the class .... also we have both american and international students as well as students from a wide variety of religious, cultural/ethnic and socio economic backgrounds

i really valued te class and when im not on my phone in the massage therapist waiting room i will post more

on a side note massage therapy paid for by insurance ..... sooooo nice

[drynot]

It might be hard to believe, but us Canadians have our own version of the 'American Dream' as well. It isn't unique to you guys down there However I do believe that prudent and intelligent living is the way to go. While there are some folks out there who will live their lives like there is no tomorrow I believe that you need to think about your future as well. We are living longer and longer and it is easy to imagine that my generation could live well into our 90's and perhaps consistently past the century mark. Younger generations could live for longer than that given the way that medicine is advancing.....

However...you need to have a litte fun while you are young enough to enjoy it! So as long as you can afford it and still manage to put something aside for retirement.....AND still PAY all your bills on time.....then I say go for it.

[square_duck]

I agree with the OP, as this is pretty much what I have been doing, as well as what my grand parents did through the depression and WW2, some of the worst economic times anyone has ever had to deal with.

The "American dream" though, means different things to different people.

But the basics and essentials are living below your means, saving and investing so you can have what you want in life. buying and PAYING for a home that no one can take away from you, and having money in the bank or stable investments for the future.

All of that equates to SECURITY....which is the basics of the "American dream"

Relying on Social security and hoping Uncle Sam doesn't cut your pay level isn't security...relying on the Government for ANYTHING isn't security. If you want security you literally have to provide it yourself.

I watched my dad, who was a wretchedly insecure person, spend and blow thousands and hundreds of thousands of dollars all his life, and he never had anything to show for it. Sure he owned a lot of real estate, but he had mortgages on everything and was hundreds of thousands of dollars in debt, even after retirement, with not much in the way of income, and he still wouldn't stop spending. Every credit card he got he would max out almost immediately, then make the minimum monthly payment. equity lines of credit were maxed out...mortgages etc..

It was insane! and he wouldn't stop! It was all very distructive, selfish "live for today" BS and in his thinking he was trying to spend mine and my brothers money as well, thinking we would step in and cover all the debt....it didn't work out that way, thankfully.

You have to live a balanced life....sure, it's nice to "live for today" and in some thinking the "what if you die tomorrow" might make sense, but on the other hand....what if you didn't? I cannot tell you how many people lived that way into retirement and now live with regrets for not saving and investing and...now they practically have to eat dog food because thats all they can afford.

I never hurts to save, no one says you have to save EVERYTHING and squeeze every dime till it screams, it's OK to save and live frugally, but it's also OK to enjoy yourself and what ever level of wealth you manage to accrue.

The people who manage this generally are happy and secure...and have attained the "American dream" of living with out fear or worry of not having enough. They also don't create a mess to leave behind for thier family to cclean up thats the worst thing to do to anyone. My dad did it to me and my brothers, but his parents didn't do it to him...so I just figured this was his big FUCK YOU to us and the rest of the family for being thrifty and saving and building a better financial base for security than he did...oh well. he did what he wanted and the rest of us were supposed to pay for it...NOT!

Anyways, I own my own home, such as it is, have investments and am fairly secure. the recent market gyrations are kind of worrisome, but also rather comical if you have a warped sense of humor

I have my "American Dream" and I try to live it and continue to work it everyday, but thats the life I chose YMMV

[lil_angel]

To me, the 'American Dream' is, as other's have stated, living life to the fullest now.

I endulge in everything I can to make life fun...We eat at the nicest restaurants, we take nice vacations including traveling the world etc. I refuse to wait until the end to enjoy life, I don't get the point of that. Now is when I am young enough and healthy enough to enjoy it.

And don't get me wrong, I plan to retire in style as well, I have/will have more than enough money in my retirement that we will still continue to live the same way then.

[diapered dan]

I agree that everyone has a different idea of what the American Dream is. What I am saying is that it is easier and more pleasant to live it debt free.

My wife and I both traveled the world before we met. To think that we have not enjoyed life is a mistake. The first 15yrs were spent getting debt free, the last 20 have been a blast.

We enjoy our hobbies, and travel when the urge hits us. It is nice not to worry about anything greater than do we have enough sugar water for the humming birds or is the waterer for the wildlife empty. We enjoy solitude, hence the 100 forested acres in then middle of 'no where', the converted barn that has all the modern conveniences except neighbors within sight.

Some people think we are rich, not so, we are well below the Obama tax hike threshold. We are happy and secure in our near perfect retirement home and everything is OURS not ours and the banks.

[ldatsea]

having been hit with under employment this last year i have fallen behind but things are looking up and you better believe my first goals after catching up is to resupply my emergency fund than live in style without debt..... now if i had car payments and credit cards i would have LOST everything MONTHS ago as it is i only have my mortgage that i have to catch up with.... you can not predict the future so i bought a house which I thought was near the bottom..HA! its worth half what i paid and I got a great deal! at the time.... did i know i would loose my job over a stupid thing? NO did i think it would take over a year to get re-employed fully NO WAY EVER!.... so if you live and spend everything now when things happen you cant foresee you end up with nothing as you cant keep what you dont own!...

[lil_angel]

Agreed...you have to be mostly debt free to be able to live.

My only bill, like Idatsea, is my mortgage, and this is just our 'starter home' so we aren't emotionally attached to it. We have a mortgage because we plan to sell it one day and don't see a reason to tie up all of our money into one asset.

One day, Mommie and I will buy our dream home...whereever that may be...and that will most likely be paid for in cash.

[BabyJune]

Everyone wants to live the 'American Dream', but few are willing to do the work and make the sacrifices necessary to live it.

I am one of the few, retired early,own my home (no mortgage), have enough income to stay happy for the forseeable future.

All it takes is hard work (35 years blue collar type) and sacrifice;

Vacations can be counted on one hand and they were inexpensive.

Buy nothing that is not absolutely necessary and PAY CASH! The interest and fees are better off in your pocket than the bankers. This incudes everything except your home and every effort should be made to pay it off in less than 15 years. We have each had One new car ( mine is now 23 yrs old and hers is 14, we still are driving both of them but saving for a newer one.) Toys are not a necessity.

Save (we put both of our boys through college, paid cash no loans, both earn more than their parents).

Dave Ramsey said it best Live like no one else now (extremely frugally) so that later you can live like no one else (comfortably).

Enough soap box oratory, Stay diapered, wet and happy.

WOW! I didn't think anyone out there shared my philosophy. That's exactly how I live, and I plan to retire early at 55 in about three years. I, too, pay cash for everything. The best way to do that is not to buy more of anything than you need. I have a modest 2-bedroom house, and my car (not counting the Volkswagen) is over 10 years old but still runs like new so I'm keeping it. Some people criticize me for not spending money, but they're the ones in debt, aren't they? Way to go!!!

[Diapered Jason]

WOW! I didn't think anyone out there shared my philosophy. That's exactly how I live, and I plan to retire early at 55 in about three years. I, too, pay cash for everything. The best way to do that is not to buy more of anything than you need. I have a modest 2-bedroom house, and my car (not counting the Volkswagen) is over 10 years old but still runs like new so I'm keeping it. Some people criticize me for not spending money, but they're the ones in debt, aren't they? Way to go!!!

Well, I think it is a good idea to get one credit card, and use that to pay for little things once in awhile, which you pay off immediately. This will help you build up a credit score thereby giving you an easier time when you buy a car or a house. Of course, if you get too many credit cards, that will lower your credibility.

[Necros]

Well, I think it is a good idea to get one credit card, and use that to pay for little things once in awhile, which you pay off immediately. This will help you build up a credit score thereby giving you an easier time when you buy a car or a house. Of course, if you get too many credit cards, that will lower your credibility.

It will only lower it if you don't pay those multiple credit cards. I also agree that paying for stuff with a credit card when you pay it back right away is a great idea to built credit, i do the same for my textbooks and uni supplies.

Some people criticize me for not spending money, but they're the ones in debt, aren't they? Way to go!!!

They may be in debt or they might make more money than you and can afford more stuff? They could also be better at managing money while still having fun in life and not waiting till your 55 to live fully

[redneck diaper boy]

The American dream is history until we weed the Marxists out of our government!

[Honu]

I own one residence, in Hawaii, outright and am ahead of my mortage in Florida. I own two cars outright and have saved to replace one with a year. I save for tomorrow but my wife, who has an incurable, terminal disease, helps me enjoy each day as well. Living for today does not have mean spending alot of money, all the money you have, or put things on credit against your future earnings. We go to the movies, go to Disney World, pursue hobbies, have pets and yet still live below our means. Define the American dream how you like. My dream includes working as long as I want, having the funds to enjoy retirement when I'm ready for that as well as the funds to support me when I don't feel like travel anymore. My dream has also been to make more money than I spend. I'm there now and I don't want to go back.

[Necros]

The American dream is history until we weed the Marxists out of our government!

Do you even know what Marxists stand for? Please tell me your not one of those people that find socialism a bad idea lol

[Necros]

SEBAS-CHAN!~~ *air smooches*

[redneck diaper boy]

Do you even know what Marxists stand for? Please tell me your not one of those people that find socialism a bad idea lol

As a matter of fact I probably know more about Marxism than most people. I had a professor that got out of Russia during Stalin's reign of terror and he talked! When compared to Stalin, Hitler was an angel! I can still hear his Russian accent " Ah Stalin, how you say ah ass...hole"!

Barack Obama can take Karl Marx's Communist Manifesto and stick it! He can do the same for his mentor Saul Alinsky!

As a kid in grammar school, I remember the bomb drills. I was taught the evils of socialism at a young age. Socialism is a gateway to hard core Marxism and or Communism.

Nikita Khrushchev stated that America will never accept Communism but will become Communist by small doses of socialism. It is happening before our eyes!

[Necros]

As a matter of fact I probably know more about Marxism than most people. I had a professor that got out of Russia during Stalin's reign of terror and he talked! When compared to Stalin, Hitler was an angel! I can still hear his Russian accent " Ah Stalin, how you say ah ass...hole"!

Barack Obama can take Karl Marx's Communist Manifesto and stick it! He can do the same for his mentor Saul Alinsky!

As a kid in grammar school, I remember the bomb drills. I was taught the evils of socialism at a young age. Socialism is a gateway to hard core Marxism and or Communism.

Nikita Khrushchev stated that America will never accept Communism but will become Communist by small doses of socialism. It is happening before our eyes!

Since this isn't a thread on politics i won't start a rant here but your post fondly reminded me about this video :

http://youtu.be/6ZQ-HTOtNxg

Silly redneck

[Rihanna]

As a matter of fact I probably know more about Marxism than most people. I had a professor that got out of Russia during Stalin's reign of terror and he talked! When compared to Stalin, Hitler was an angel! I can still hear his Russian accent " Ah Stalin, how you say ah ass...hole"!

Barack Obama can take Karl Marx's Communist Manifesto and stick it! He can do the same for his mentor Saul Alinsky!

As a kid in grammar school, I remember the bomb drills. I was taught the evils of socialism at a young age. Socialism is a gateway to hard core Marxism and or Communism.

Nikita Khrushchev stated that America will never accept Communism but will become Communist by small doses of socialism. It is happening before our eyes!

I hate to agree with you, but you are right! Obama is a known Marxist/Communist/Socialist. He is taking our country to hell.

As I just said in another thread, it's getting time to think about using the 2nd amendment to take back our government!

[Necros]

I hate to agree with you, but you are right! Obama is a known Marxist/Communist/Socialist. He is taking our country to hell.

As I just said in another thread, it's getting time to think about using the 2nd amendment to take back our government!

We're on a hiiiiiighway to hell

[Yvhuce]

Not everyone wants to live the "American Dream". A lot of us just want to survive...