The term "American dream" was coined in a best-selling book in 1931 titled Epic of America. James Truslow Adams described it as "that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement." The American dream was aided by a number of factors that gave the United States a competitive advantage over other countries.
The definition of The American Dream from Investopedia says it is the belief that anyone, regardless of where they were born or what class they were born into, can attain their own version of success in a society in which upward mobility is possible for everyone. So everyone is in control of it and can move toward it. You may define it as a start-up business, buying a home, having a family and/or successful career.
Joining us for our discussion on Your American Dream is ED HAJIM, the son of a Syrian immigrant, is a seasoned Wall Street executive with more than 50 years of investment experience. He has held senior management positions with the Capital Group, E.F. Hutton, and Lehman Brothers before becoming chairman and CEO of ING. He is now chairman of High Vista, a Boston-based money management company. In 2008, after 20 years as a trustee of the University of Rochester, Hajim began an eight-year tenure as chairman of the university’s board. Upon assuming that office he gave the school $30 million—the largest single donation in its history—to support scholarships and endow the Edmund A. Hajim School of Engineering and Applied Sciences. Through the Hajim Family Foundation, he has made generous donations to organizations that promote education, health care, arts, culture, and conservation. In 2015, he received the Horatio Alger Award, given to Americans who exemplify the values of initiative, leadership, and commitment to excellence and who have succeeded despite personal adversities. His latest book is On The Road Less Traveled: An Unlikely Journey from the Orphanage to the Boardroom . Welcome to Mastering Your Money, ED HAJIM.