The New American Dream: Redefining Success and a Quality Life in 2024 | Latin Wealth

The Latin Wealth

Welcome to a new weekly series we are launching on the Latin Wealth platform, Wealth Wednesday! On Wealth Wednesday, we will be discussing trending news, Latino culture and topics surrounding business, host by @chrisbelloso and @ricoramirez86. In today’s episode, we dive deep into the evolving concept of the American Dream. What we grew up believing may not hold true anymore. Join us as we explore this shift and share insights on 3 business and investing mistakes you need to avoid.

Episode Highlights:

The New American Dream:

• The changing perception of the American Dream.
• Discussion on what the American Dream meant to us growing up.
• Current trends, including the rise in Americans moving abroad.
• Insights from a Wall Street Journal-NORC poll showing 45% of people think the American Dream no longer holds true.
• AARO estimates that 5.4 million Americans lived abroad in 2023, with significant populations in the Western hemisphere and Europe.
• Financial challenges: 51% of Americans would take a 20% pay cut for a better work-life balance.
• The rise of the ‘Rentvester’: renting in one city and buying investment property in another.
• Exploring the meaning of freedom and flexibility in today’s context.

3 Business and Investing Mistakes to Avoid:

1. Lack of Patience:
   • Avoid pivoting too soon in business or investments.
   • Understand the pitfalls of a "microwave society" mentality.
2. Putting All Your Eggs in One Basket:
   • Diversify to seize opportunities and minimize exposure.
3. Not Having an Emergency Fund:
   • Learn the importance of an emergency fund, especially during the startup phase.

Join us as we redefine the American Dream and provide valuable tips to help you avoid common business and investing mistakes.

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