I participated in an Influencer Program on behalf of Mom Central Consulting for MassMutual. I received a promotional item to thank me for participating.
What does the American Dream mean to you? It’s a question that I’ve thought about and I know what my answer is but it’s not something that I’ve talked a lot about with my friends and family. After coming to a realization that I haven’t communicated with my loved ones about this matter, I know that it’s something that must be done (and done soon). Before doing that, I wanted to lay out what the American Dream means to me.
The American Dream means so much. It means that I am able to choose my own career path and do what I truly love to do. I am young woman who is able to own my own business and be successful without discrimination of my age or gender. I was able to choose whether or not I am can extend my education after high school and when I chose to go to SMU, financial aide was available with ease to help me pursue my dreams. I am in my late twenties and ready to start my family. I have a choice in choosing who I marry, I am not forced to marry someone who I don’t love or don’t want to be with. I am able to buy a home of my dreams, even though I don’t work a corporate 9 to 5 job. My life is what ever I want to make of it, there might be a few bumps in the road that I have to overcome but anything is possible.
After reading MassMutual’s State of the American Family Study, I found many of the statistics resonating with what I believe. The top five financial goals reported by American families include; Paying off a mortgage, Creating a plan for managing retirement income, Saving for children’s college educations, Ensuring that the family will be taken care of financially in the event of a parent’s death, & Developing a monthly budget and a comprehensive financial plan.
A mortgage is the biggest expense that most people have, it is one bill that I want to pay off as quick as possible. Think of all the possibilities with that large chunk of money that you don’t have to pay each month. It would allow for investing in the future and saving money for any future expenses that may arise.
According to Mass Mutual, the majority of Millennial families are actively involved in educating their children about money. This will definitely be a priority in my family. I believe that children need to learn all about money, what it is, how to save and the reasons why we need to be financially responsible. Parents recognize that an increase in financial education among children can help future generations to feel more confident and perform more effectively with regards to money.
If you are seeking ways to gain more control over your family’s finances, MassMutual suggests that Americans consider the following action steps: think about retirement if you’re not already, secure your family’s future, protect your income, teach future generations about finances, plan for your children’s education, and prepare for future health care costs. It’s never too early to start preparing for your future. For more info about your family’s finances, I would highly recommend reading MassMutual Family Finances.
I’m curious. What does the American Dream mean to you?