The American Dream – What is it and How to Achieve it
The American Dream is a concept that draws many immigrants to the country. After all, it promises many things that it implies you can’t find elsewhere. Whether this is true or not, the American Dream is certainly a key draw in attracting immigrants. But what is it, and how does one achieve it?
The American Dream
To an extent, the American Dream has been 250 years in the making. While it wasn’t a term officially coined until 1931, it’s rooted in the Declaration of Independence, and even in lesser-known ideas such as Manifest Destiny.
In short, the American Dream is the idea of finding freedom, happiness, and the pursuit of your chosen life path, all of which can presumably only be achieved by living in the USA. There are various physical and mental components within it, but they range from home ownership, stable employment, and upward social mobility.
How to Achieve the American Dream
If the concept of the American Dream seems slippery, then achieving it can be even more so. A person’s personal perception of the end goal will always differ, even if they’re rooted in the same basic concepts.
However, if we consider the basic achievements to be financial security, owning a home, and improving one’s place within society, then we can break down the steps needed to get there.
1. Obtain residency
The first step, of course, is to obtain residency if you’re an immigrant. Luckily, under the Biden administration, this will be much easier than it was for the past four years. Obtaining residency is the only secure way to buy a house, get a good job, and to pay taxes.
2. Get a good job
One of the key components of residency status is employment. There are various visa programs designed for college students, particularly in STEM subjects related to emerging technology industries. These are where much of the money lies, and massive companies like Google regularly employ the greatest minds from across the world.
3. Get married
Getting married allows you to enjoy almost double the amount of wealth as a single person. Of course, this is comparative when you factor in the costs of things like raising children, but access to two salaries instead of one will put you
in an overall better position.
4. Buy a house
A house is more than just a place to live – it’s one of the most secure forms of capital investment. Generally speaking, houses only increase in value, and paying into a mortgage is much more effective than a savings account.
5. Invest money
If you have spare money, the best way to obtain financial security is to invest it in stocks and shares. While this option isn't open to everyone, it’s arguably the final step in achieving the American Dream. Once you’ve paid off your house and any debts, all leftover money is yours to spend.
The American Dream has been effective at drawing immigrants to the country for almost its entire history. It promises things that any person finds desirable: money, freedom, and happiness. Of course, our versions differ, but the route to achieving it remains the same.