The American Dream is a hundred-year-old ideal, a phrase used to describe upward mobility and the promise of success through hard work. And for decades, the idea of the American Dream has often gone hand-in-hand with homeownership. Is that still the case today?
That’s the question we’re going to explore on this episode of Investing in Real Estate. We’re going to talk about the state of the economy and the latest statistics on financial security across the United States. You’ll learn about why real estate can help you achieve financial freedom, why the American Dream is being redefined, and much more!
In this episode you’ll learn:
- The link between the economy and financial security
- How Americans are feeling about the American Dream
- Why owning real estate is the key to financial security
- How to ensure financial freedom for your family
The Link Between the Economy and Financial Security
A new poll says that the majority of Americans, 78% to be exact, don’t feel financially secure today. This percentage has risen gradually over the past few years, showing rising tensions across the economy.
What’s especially interesting is that although 70% of survey participants said they believe they have made smart financial decisions, it’s not enough to result in a comfortable or secure lifestyle. That’s right, despite doing everything “right,” most Americans are still living paycheck-to-paycheck, are unable to save money, and their incomes are just not keeping up with their expenses.
What’s behind this increasing phenomenon of Americans feeling less financially secure with each passing year? Two simple answers – the cost of living and the state of the economy.
How Americans Are Feeling About the American Dream
43% of Americans surveyed said they’ll never have enough money to achieve the American Dream, which was defined as achieving financial success, owning a home, and supporting a family. These are major life milestones that were once the cornerstones of American life. But today, they’re simply out of reach for nearly half of the population.
Why Owning Real Estate Is the Key to Financial Security
Realtor dot com’s senior economic analyst Hannah Jones argues the solution to this problem is actually homeownership.
She rightly points out that historically home prices always rise, and waiting to enter the housing market rarely pays off. Basically, she says that because of home appreciation and equity, buying a home is the best way to insulate yourself from inflation and the rising cost of living that is hurting so many people today.
This makes a strong case for investing in real estate as a whole. If home values tend to rise over time and real estate acts as a hedge against inflation, then owning property, whether it’s your primary residence or an investment, becomes less about timing the market perfectly and more about gaining long-term exposure to an appreciating asset. The real takeaway is about understanding the power of real estate as a wealth-building tool and finding a way to participate in it when it makes sense for your situation.
How to Ensure Financial Freedom for Your Family
What it means to be financially secure can have different definitions to different people. Factors like location and family size can play an instrumental role in determining the amount of money needed to live comfortably. Which is why, for years, I’ve recommended taking a personalized approach to setting your financial goals and defining your financial success.
Instead of basing your financial security on a random number or a feeling, I’m talking about determining exactly how much money you need for your unique situation and then creating a roadmap to get there. That’s exactly what I teach in my Freedom Number Cheat Sheet.
I created the idea of the Freedom Number after a brush with job insecurity. I realized I was tired of relying on a paycheck to make sure my expenses were covered, and I wanted to figure out a way to create streams of income that could support me and my family, no matter what happened with my job or the economy. I didn’t want to be beholden to these external factors that can change on a dime – I wanted to feel like I had control over my future and could protect myself and my family.
And after I used the formula and experienced how transformative it was, I became passionate about sharing it for free. Because no one should have to feel like they are hardly scraping by or that if their job disappeared tomorrow, they would have no options for paying bills or ensuring they can provide for their family. If you’re among the 78% of Americans who don’t feel financially secure, I hope you’ll download the Freedom Cheat Sheet today… Because even if you don’t take action immediately, the least you can do is to set a goal and work on building your financial intelligence.
Episode Resources
SDIRA Wealth ← Schedule a FREE call with our trusted real estate partners!
Subscribe to Investing in Real Estate on Apple Podcasts
Find Your Financial Freedom Number
Subscribe to the Redacted Invest YouTube channel
DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. We recommend them because they are helpful and useful, not because of the small commissions we make if you decide to use their services. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.