What’s your American Dream and how will you achieve it?

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Disclosure: I participated in an Influencer Program on behalf of Mom Central Consulting for MassMutual. I received a promotional item to thank me for participating.

Our first house -- savingsinseconds.com
If you could paint a picture of the American Dream, what would it look like? Perhaps a modest home? A yard for children to enjoy? Owning a business of your own? Whatever represents your idea of the American Dream, that’s what MassMutual wants to help preserve for generations to come. In MassMutual’s State of the American Family Study, many families revealed their concerns and priorities for the future. In the statistics, I saw several of my own hopes and concerns echoed in the Dreams of the masses. I was glad to see that putting family first was a “core value” for most of the respondents in the data collection. Knowing that the American Dream for families is the heart of the matter bolsters my resolve to grasp the American Dream for my own family.

I wondered what my mom saw as the American Dream as she traveled from Japan in her early 20’s. Soon afterwards she found herself as a single mom of two kids, bound to this country due to custody issues. She learned to read and write English so that she could secure a job to support us. My dad rarely offered financial help, even when the courts required it of him, so she was left to shoulder our expenses on her own. My brother and I shared a bedroom in our small basement apartment until I was 17 years old. In those days, I thought anyone who lived in a house must be rich beyond compare! My mom worked so hard to provide for my brother and me. Looking back, I realize that her American Dream was to make it possible for me to attend college. She held me to high expectations for my academic performance, which made it possible for me to get an education. I’m grateful for the sacrifices she made on my behalf and feel that it’s my responsibility to live up to her vision. Now that she is a grandmother, I want her to enjoy her life and not have to worry about my happiness anymore.

What do I see in my American Dream? It’s little surprise that the picture centers around a comfortable home complete with a safe yard for my kids. We’re lucky in that we were able to buy our first home right after college.  We’re now living in our third home, after “buying up” every few years.  Our budget includes enough money to provide us with our needs and some of our wants, too. We enjoy good health and have access to affordable health care when needed. While it’s taken years for us to reach our Dream, my husband and I continue to work toward the Dream of reducing the financial burden of college for our children. It’s essential that we’ll teach them to be smart about money, which was another point made in the MassMutual study. We are still paying for our own degrees even though it’s been nearly 2 decades since we graduated. I don’t regret our path along this journey. Our educational experiences provided the means to make our American Dream come true. Still, I hope for a better tomorrow for my kids that doesn’t include student loan payments! In the MassMutual study, there were some very enlightening graphics that made me realize we’re not alone in this goal.

Speaking of the future, my husband and I hope to provide for our needs into our advanced years; I don’t want to become an expense for my children to maintain. I want my dear ones to be able to live their own versions of the American Dream without being encumbered by mine. According to the MassMutual 2013 State of the American Family Research Study, we’re not alone in our desire to be independent as we age. It’s also interesting to note that neither age, ethnicity, gender, nor sexual orientation seemed to have little impact upon the response of those taking the survey. I find it very encouraging that in our goals and Dreams, Americans share a lot of the same wishes. The biggest shock for me was the realization that so many people have 6+ months saved for a financial emergency. While we have a very small amount set aside, it’s definitely not enough to get us through six months of living expenses. That is a worthy goal and something that we’ll be working towards.

I encourage you to peruse the MassMutual’s State of the American Family Study. According to the Methodology report, the data was collected in 2013 so it’s timely and relevant for today’s society. The report is quite easy to read and contains great suggestions for making your own American Dream come true. Then visit MassMutual Family Finances to find out how you can protect your family, save for the future, and educate your children about their own finances. Try to implement at least one of the recommendations and see if you can get closer to your financial goals in 2014!

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Comments

  1. Candace D. Harvey says

    My American dream it to live with my own, a new house, an intact family, a comfortable living just simple as long as my family are all happy… I know to be able to achieve this is we need to strive hard….

  2. Sounds like you have a very solid foundation on your Dream and the one for your children.

  3. Hubs and I are thinking about starting to look for a house soon, but we’re so torn on what we want that I have a feeling it’s going to take us a little longer LOL. It’s awesome that you guys have your American Dream figured out and that you’re going to help your kids achieve theirs by not becoming a financial burden on them. Smart smart! 🙂

  4. What an interesting topic for me to look into- I’ve heard a little about the MassMutual study, and am looking for our first home! My American Dream is just to be paying towards something I own, and stop paying rent!

  5. This is interesting for sure, I want to one day buy a home with cash

  6. My American Dream definitely involves buying a home. After eight years of college, my husband is finally almost done! So, we will be starting to save for a home soon.

  7. Sounds like a plan!

  8. The American Dream is more attainable today thanks to lower interest rates (and a nice housing bubble burst). More people should have a ‘plan’ like you do!
    Scott recently posted…Save Your Pennies for the Daily DealMy Profile

  9. Yes, it would be a dream to get our degrees paid off too!

  10. My American Dream is for my husband to be able to retire early while we live on income from rental properties and travel! I’m working my butt off to try to make it work!

  11. My dreams are really similar to yours. I just want a house with a little yard, quality health care and education for my (future) children and enough $ left over to afford a few of our wants. I also would like to be able to be home and involved with the kids as much as possible.

  12. I feel lucky because I have my American Dream. House, good schools, great family.

  13. Your Doing A Great Job Having A Dream Helps Achieve Smaller Goals To Eventually Get To That big Dream I Think!!

  14. We used them for our house as well! Very informative!

  15. My house is paid off. I have good insurance. I like to travel cheaply.

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  1. […] I shared my family’s American Dream vision with you. We’ve been living in our 3rd house for over a decade now, having brought […]

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