Where is the American Dream kive and well?

[coobie]

The ability to come from immigrant families that suffered through the Depression and WWII, grow up and contribute to society all while enjoying it. Then retire at a income that is twice the median for the area and waste hours every day on a tractor forum.

I've two sons and a daughter who are now in their late 20's and seem to be enjoying their version of the American Dream.

As far as "pensions" go you have to work and plan for it.

One of the big "problem" areas I saw many of my coworkers and associates get into was wanting the American Dream based on what they saw on TV NOW, new cars every few years, trading houses, getting the latest new clothes and gadgets, and to many children. All the time putting off saving $$.

My parents drilled into me "Use it up, wear it out, make it do or do without". I drilled it into my children. Also "keep your nose to the grindstone".

+++1 newbury.My wife and I did the same.Both are retired now enjoying the good life that we busted our tails for..Never had a big fancy house and new cars just the simple life we could afford..

 

[Redneck in training]

There was a show in radio while back about American dream. The research looked at several immigrant families with well documented history. The conclusion was that it takes three generation to live the American dream. The first generation (usually uneducated) works very hard to make ends meet but stays just above poverty level. Second generation gets better education and entrenched itself in middle class but didn't get rich by any measure. The third generation gets very good education but either adds to what their parents built or squanders it.
It is true that you have to plan for future and make good choices. I am first generation immigrant. When I arrived about 29 years ago to New York airport I told myself: Wow. Look at this place. All people were well dressed and drove away in shiny cars etc. It was a dream come true. Then came the shock. I got first job that paid quarter over minimum wage, bus ticket to work cost about half what I made. I thought that was starting pay and it will get better later on. Then I found that there were people working there for several years making about quarter more than what I was making. I worked there only few weeks and found a job in a laundry of a hotel that paid less but was walking distance (about 2 miles) from my apartment. It paid minimum wage but provided thee meals a day. This experience scared me so much that I didn't party, studied hard, didn't miss single day at school and graduated on top of the class.
It landed me in "real" job that I held until I retired at the end of last year. The job payed enough so my wife and I maxed out our 401K, put more money in several investments and paid college for four children. All of our children are doing OK, some better than the other but all are out of our payroll.
Our plan was simple. Living under our means, acting rather poor, buy second hand cars, garage sale furniture etc. Then one day we looked back and realized that we are not poor anymore. We bought our land, built new house, bought a tractor and other toys etc. We still buy second hand cars. I can say we are living American dream.
It took 25 year of hard work and a great dose of good luck. But that is another good American story.
Many immigrants I know have similar story like my but many more failed to realize the American dream. While on work assignment several years ago I checked in the hotel I worked my second job. Some people I worked with were still there.

 

[houstonscott]

There was a show in radio while back about American dream. The research looked at several immigrant families with well documented history. The conclusion was that it takes three generation to live the American dream. The first generation (usually uneducated) works very hard to make ends meet but stays just above poverty level. Second generation gets better education and entrenched itself in middle class but didn't get rich by any measure. The third generation gets very good education but either adds to what their parents built or squanders it. It is true that you have to plan for future and make good choices. I am first generation immigrant. When I arrived about 29 years ago to New York airport I told myself: Wow. Look at this place. All people were well dressed and drove away in shiny cars etc. It was a dream come true. Then came the shock. I got first job that paid quarter over minimum wage, bus ticket to work cost about half what I made. I thought that was starting pay and it will get better later on. Then I found that there were people working there for several years making about quarter more than what I was making. I worked there only few weeks and found a job in a laundry of a hotel that paid less but was walking distance (about 2 miles) from my apartment. It paid minimum wage but provided thee meals a day. This experience scared me so much that I didn't party, studied hard, didn't miss single day at school and graduated on top of the class. It landed me in "real" job that I held until I retired at the end of last year. The job payed enough so my wife and I maxed out our 401K, put more money in several investments and paid college for four children. All of our children are doing OK, some better than the other but all are out of our payroll. Our plan was simple. Living under our means, acting rather poor, buy second hand cars, garage sale furniture etc. Then one day we looked back and realized that we are not poor anymore. We bought our land, built new house, bought a tractor and other toys etc. We still buy second hand cars. I can say we are living American dream. It took 25 year of hard work and a great dose of good luck. But that is another good American story. Many immigrants I know have similar story like my but many more failed to realize the American dream. While on work assignment several years ago I checked in the hotel I worked my second job. Some people I worked with were still there.

Did you know there was no immigration to the United States from 1924 to 1965. Maybe we another period like that for people to become vested Americans. HS

 

[newbury]

Did you know there was no immigration to the United States from 1924 to 1965. Maybe we another period like that for people to become vested Americans. HS

Where the heck do you dig up these false facts? Do you have ANY valid links?

The Immigration Act of 1924, or Johnson乏eed Act, including the National Origins Act, and Asian Exclusion Act (Pub.L. 68?39, 43 Stat. 153, enacted May 26, 1924), was a United States federal law that limited the annual number of immigrants who could be admitted from any country to 2% of the number of people from that country who were already living in the United States in 1890,

2% was still a good number.
In 1929, there were 279,678 immigrants recorded. Due to the depression and WWII immigration slumped, but after the war jumped back to a quarter million or more per year.
http://www.simile-widgets.org/timeplot/examples/immigration/immigration.txt

1924 706896
1925 294314
1926 304488
1927 335175
1928 307255
1929 279678
1930 241700
1931 97139
1932 35576
1933 23068
1934 29470
1935 34956
1936 36329
1937 50244
1938 67895
1939 82998
1940 70756
1941 51776
1942 28781
1943 23725
1944 28551
1945 38119
1946 108721
1947 147292
1948 170570
1949 188317
1950 249187
1951 205717
1952 265520
1953 170434
1954 208177
1955 237790
1956 321625
1957 326867
1958 253265
1959 260686
1960 265398
1961 271344
1962 283763
1963 306260
1964 292248
1965 296697

Numbers of immigrants from the link.

And that's only LEGAL immigrants.

 

[prichard]

Thank you Newbury, I was just putting FACTS together to refute that silliness, myself. I know many people who, themselves, or their parents came here in that time period.

One thing I find very interesting is Asian immigration. The US along with many countries around the world have had anti-asian immigration laws and yet no matter where they go Asians tend to be very successful.

 

[smstonypoint]

One thing I find very interesting is Asian immigration. The US along with many countries around the world have had anti-asian immigration laws and yets no matter where they go Asians tend to be very successful.

IMO, that's due, at least in part, to the value they place on education.

A growing achievement gap between Asian American students and their white classmates is due largely to greater work effort and cultural attitudes, not innate cognitive ability, researchers say.

In a study published Monday in the journal PNAS, two sociology professors found that Asian Americans enter school with no clear academic edge over whites, but that an advantage grows over time.

Even if they come from poorer, less educated families, Asian Americans significantly outperform white students by fifth grade, authors wrote.

"Asian and Asian American youth are harder working because of cultural beliefs that emphasize the strong connection between effort and achievement," the authors wrote. "Studies show that Asian and Asian American students tend to view cognitive abilities as qualities that can be developed through effort, whereas white Americans tend to view cognitive abilities as qualities that are inborn."

Study examines achievement gap between Asian American, white students - LA Times

Steve

 

[Citydude]

There was a show in radio while back about American dream. The research looked at several immigrant families with well documented history. The conclusion was that it takes three generation to live the American dream. The first generation (usually uneducated) works very hard to make ends meet but stays just above poverty level. Second generation gets better education and entrenched itself in middle class but didn't get rich by any measure. The third generation gets very good education but either adds to what their parents built or squanders it. It is true that you have to plan for future and make good choices. I am first generation immigrant. When I arrived about 29 years ago to New York airport I told myself: Wow. Look at this place. All people were well dressed and drove away in shiny cars etc. It was a dream come true. Then came the shock. I got first job that paid quarter over minimum wage, bus ticket to work cost about half what I made. I thought that was starting pay and it will get better later on. Then I found that there were people working there for several years making about quarter more than what I was making. I worked there only few weeks and found a job in a laundry of a hotel that paid less but was walking distance (about 2 miles) from my apartment. It paid minimum wage but provided thee meals a day. This experience scared me so much that I didn't party, studied hard, didn't miss single day at school and graduated on top of the class. It landed me in "real" job that I held until I retired at the end of last year. The job payed enough so my wife and I maxed out our 401K, put more money in several investments and paid college for four children. All of our children are doing OK, some better than the other but all are out of our payroll. Our plan was simple. Living under our means, acting rather poor, buy second hand cars, garage sale furniture etc. Then one day we looked back and realized that we are not poor anymore. We bought our land, built new house, bought a tractor and other toys etc. We still buy second hand cars. I can say we are living American dream. It took 25 year of hard work and a great dose of good luck. But that is another good American story. Many immigrants I know have similar story like my but many more failed to realize the American dream. While on work assignment several years ago I checked in the hotel I worked my second job. Some people I worked with were still there.

Thanks for sharing. It's nice to read a success story that was born from hard work and determination. Congrats!

 

[prichard]

My personal dream.
After a misspent youth, I have little in 401k, etc. I got married a few years back to a woman who didn't save much either. So we started planning. It was obvious neither of us was good at saving so we decided to spend - Carefully, that is. We are paying off debt (most of it is gone). We bought land with cash. We are designing our home based on building ourselves. I mean literally the 2 of us physically building it. We will build with cash. Our current plan has house completed within 5 years with no debt. We can then sell the house we are in now, hopefully with equity, and move into a a mortgage free house with no debt.

Then maybe we'll have the ability to retire or at minimum not work jobs we don't want to work. Not sure if I care if I ever retire, I like working and like what I do. Retirement would likely lead to me becoming fat and lazy.

 

[Turbys_1700]

You may want to check the percentage of pension short fall contributions most states are running, now. Many states are looking for a way out to pay pensioners due to never actually having put the money aside.

Agreed....
I am fortunate to live in NC...
At current we are one of the most solvent states in the nation running a billion dollar surplus...
And the retirement system has been deemed one of the most solvent also...

 

[jack707]

Seems like a little difference in experience in Wisconsin.

Property tax is to high here
food is high priced
gas tax, diesel tax high

Wis. is better then where I grew up but being in the mid west the tax rate could be a lot better here!.