| Definitions of the Dream vary, of course. Yet - in my experience - they tend to fall into two broad but related categories. The traditional view is that every individual in this country has an opportunity to rise as far as their talents, ambition, and persistence will take them. The modern version has a decided financial tilt. As in, "I can afford to own a home, be financially independent (or at least financially secure enough to maintain a reasonable life/work balance) and retire comfortably without worrying about money." Who, exactly, doesn't believe these things? The biggest percentage are low-income Americans and young people. (The two groups overlap, of course. Yet young people have more of a crucial ingredient - time - than anyone.) The low-income faction shouldn't surprise anyone. The harder you find it to get by, the tougher you're going to find it to achieve the American Dream. These folks are struggling to meet the rent, pay their bills, and keep their heads above water. A path forward is entirely possible for them. The problem is that most don't even know how or where to begin. They need to pay down high-interest loans first, consolidate their debt at a lower interest rate, upgrade their job skills to maximize their income, take a second job (or work a side hustle), live beneath their means, and start saving and investing. Easy? No. Achievable? Absolutely, with the right attitude, determination, and behavior. However, it's not just the people in over their heads that are struggling. A recent survey by Lending Club showed that 62% of Americans are living paycheck to paycheck. Thirty-seven percent of Americans do not have $400 for an emergency. Twenty-one percent have zero savings. And the median retirement savings for Americans aged 55-64 is $6,400. Twenty-seven percent have no retirement funds. Not a pretty picture. But here's the good news: These people got themselves into these situations. And they can get themselves out. While I went from a net worth of zero as a young man to total financial independence, I did not bury myself in debt first and then dig my way out. For that reason, I would refer readers in this situation to basic money guides written by authors like Suze Orman or Dave Ramsey. Their tough-love, no-nonsense approaches to spending, debt, and savings have helped put millions of Americans on the road to financial freedom. However, getting out of debt and getting a handle on out-of-control spending is not my forte. It is not a big part of my columns or the book I'm working on. My strength is showing people who are already working and saving how to invest their money smartly and with a low level of risk. However, a low level of risk doesn't mean your net worth rises in value like a passbook savings account. High-returning assets are volatile, as we've seen in the stock market over the past few weeks. This is simply the price of admission. Nothing has outperformed a diversified portfolio of equities over the past 200 years, not cash, bonds, real estate, commodities, or precious metals. But the tradeoff is that stocks will nosedive from time to time, suddenly and without warning. Every equity investor should expect this. Yet newbies always tend to find their first correction or bear market far more terrifying than they imagined. Perhaps that's because the cause of the sell-off is always just as unpredictable as the timing. My advice? Get used to it. Market timing doesn't work (except in hindsight). There is no way to see these pullbacks in advance and no reason to let them derail a well thought out investment plan. History shows that the highest returns do not go to the investors with the biggest brains. They go to the ones with the strongest stomachs. Good investing, Alex | 
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