The American Dream Script
The American Dream Script
We have all heard of it. We have all lived it to some extent. There is a narrative that runs throughout our culture about wealth and happiness. The American dream script. Hammered into our heads since childhood, we take it unconsciously as truth. There are many versions and varieties. The immigrant script. The grew up in the ghetto script. There are as many variations as there are different kinds of people. But they all share similar threads.
Through hard work and persistence The good life can be yours.
Yet, I sometimes wonder if we in the financial independence community are being loyal to such scripts. Day by day we are holding on to some of the tenants and discarding many others.
Frugality
Surprisingly, frugality and minimalism are not part of the American Dream script. It is, in fact, the opposite. We are taught from an early age that you can have it all. Not only can have it all, but deserve it.
It’s hard to pinpoint where the justification of such thinking comes from. No doubt that the mass media marketing engine plays a role. What better way to sell a product than tie consumerism with good old American pie.
I don’t believe that this was an original part of the true American dream script. Such tenants as hard work, rugged individualism, and persistence have been replaced by iPhones and big screen TVs.
Retire Early
There is no place in the current lexicon for early retirement. Our FIRE acronym comes closest to making this idea mainstream. But, in reality., the American dream script really doesn’t account for retirement until traditional ages.
In fact, the idea of slowing down, creating less, and enjoying life is somewhat anathema unless seen through the lens of buying more.
What are you supposed to do once you have worked your tail off and finally reached the precipice of success? Why, achieve more, of course. There is a never say die attitude. Even if your already have reached your goal,, there is always a higher more lofty place to reach for.
This is the American way. We rarely suggest good as a proxy for better. We often struggle with the concept of enough.
Hard Work vs Hardly Working
The financial independence community and the American dream script line up in one essential way. The value of hard work and sacrifice. There is no version of the American origin story that does not include putting your nose to grindstone and struggling against unbeatable odds to make it happen.
This is the quintessential truth that ties our community to the classic nationalistic rhetoric that we all grew up with.
Changing The Script
The financial independence community as well as the FIRE movement are gaining much national acclaim as of late. As the financial markets toss and turn, one wonders if all the hoopla will eventually die down when the economy plunges.
It is possible.
But it is also possible that we are at the beginning of a tidal wave that will change the landscape for the foreseeable future. This message of smart financial stewardship and freedom may eventually help modify the American dream script.
One day we might be talking about building lives of purpose, identity, and connection and then using such work to monetize enough to fund our physical needs.
That, to me, sounds like the true American dream.
What is the script? Get a job, save some money, when you have enough to replace the paycheck for 30 years quit the job, at the end of 30 years die. What is the FIRE script? Get a job save some money, when you assume you have enough to cover 50 years quit the job. You will die and either run out of money or not. Why do we believe this nose to the grind stone stuff? Largely because early America was settled by a power class that were Calvinist in their religious perspective and Calvinism holds salvation is a choice by God and once chosen you stay chosen. If you’re chosen, then waste no time on becoming chosen and spend your time getting rich. It’s a more complicated dialectic for sure but the nugget is contained here. In a country of equals we are free to excel. Why are we entitled? Because that is marketed to us. You don’t need a car you need a Vette, yes siree 500HP to go 70mph. 4% x25 is the ticket sonny. Why do we have side gigs? We don’t believe the marketing. We’re still waiting for the first 4 x25er to make 50 years with money in the bank to prove the concept. Plenty make it 20 years but 20 years isn’t 50 years. The rest is all drama and hand waving, not that this daydreaming isn’t fun. It’s the reason people don’t pay attention to FIRE. They have different daydreams. The narrative is is not different than “new and improved” on the box of Tide in the mind of most people.
I never looked at the religious perspective. Makes sense though.
I never minded following the beat of a different drummer.
If I am sounding a different drum beat for others it is: Achieve FI.
You will then have more options.
You may not want to RE and that is fine.
Get your house in order and empower yourself. You won’t regret it.
I think the script serves us in the beginning and then we have to modify it as we reach more freedom.
I never liked pep rally and I was never comfortable being part of the crowd. Going my own way was the best thing I ever did. I have no regret at all.
The FIRE script has part of the American dream script in it. I worked hard and saved up when I was young. Now, I have enough to live a comfortable life. That’s most of the American dream script. I just quit a bit earlier than the script called for. That’s not bad.
Not bad at all. maybe ideal.
The key is in the name ‘dream’. As a Brit I can’t say I’ve internalised the American dream but to my eye it appears to be a method of motivating and controlling the average person. If the average person cannot be convinced to ‘work hard’ (for weak pay) there is little hope of extracting surplus profits from them (as workers or consumers.
It actually just struck me that the financial independence community are the ultimate beneficiaries of the dream. Leaving aside the troublesome concept of a community of independents, what is the value of your equity, property and skills you supply without the near insatiable demand generated by those who consume? Like ying and yang you are tied together.
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I like the point you make in the first paragraph. Maybe the dream was a means of control.