It’s not too late to ‘Go West!’

Summer vacations can be both fun and educational. My recent western states vacation is a good example. When I head for the west coast, I generally make several stops. One of the most interesting was at Rapid City, S.D.

To my surprise, the city has life size bronze statues of all our presidents. I wandered into the main office and learned that the artists and statues were funded and maintained by a private organization. A gentleman explained to me that it was their way of honoring our nation.

My next stop was the Mount Rushmore National Memorial, where I was fascinated to learn the process of its dream, design, construction and ongoing maintenance. It’s also where I decided the direction of today’s column.

I overheard some startling comments from the large contingent of domestic and foreign visitors, including such as “Who is that along with Washington and Lincoln?” But my favorite was “Why did they put Roosevelt on the monument before he was president?” Obviously, some visitors were confusing Teddy and Franklin D.

Whenever I turned on the news during my western trip, the topic was Ferguson, MO, just outside of St. Louis. In our nation’s history, St. Louis was the starting point for many western settlers.

Most were seeking the American Dream of a better economic life. People have continually moved west seeking a better lifestyle. Those journeys were not without risk, and, on some occasions, ended in death.

The nation has changed dramatically since the Wild West was settled. While the American Dream is still alive and well, I fear that many don’t share the dream or simply lack the drive to improve their lot in life.

As a financial advisor, I help people handle their finances. Except for the few that inherited their wealth, most accumulate it through work and investment. But the foundation for building wealth is something that many seem to be lacking.

Our nation’s challenge is to develop new opportunities that lead to good jobs and careers. I believe we need a modern-day western journey to revive the American dream. In other words, we should be emphasize having dreams and taking calculated risks rather than debating the minimum wage.

It appears our focus is on just getting by rather than aiming for the sky. My youngest son and some of his friends are good examples. After graduating from college at the height of the recession he “went west.”

He discovered there are plenty of well-paying jobs for those that are willing to dedicate themselves and work hard. Many in his age group followed the same path.

In the investment world, you need to find the balance between minimizing risk and maximizing aggressiveness. I don’t mean if you’re without work or unhappy with your job, that you should drop everything and head west tomorrow. But you shouldn’t abandon your dreams.

There are indeed many opportunities that can be pursued. The American Dream that pushed many of our forefathers west still exists. You might have to look a bit harder to find them, but they are out there. Our history is full of stories of individuals who took risk and found success. America has changed, but with hard work, a bit of risk and maybe a little luck, no dream is unattainable.