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.
