Dave Ramsey and Ben Shapiro: 4 Financial Reasons the American Dream Is Not Dead
Written by
Heather Altamirano
Edited by
Rebekah Evans
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The American dream is the belief that anyone can achieve their goals — including financial goals — and attain success through hard work, but is the nearly century-long idea on life support? According to a study from the Pew Research Center, 41% of people no longer believe obtaining the American dream is possible, while 6% believe it was never possible.
While almost half of Americans believe the American dream is impossible to reach, Ben Shapiro, prominent columnist and conservative political commentator, does not. He recently appeared on the Ramsey Show, explaining why the American dream is not dead.
Smart Decisions
Pessimism about the American dream has grown. While there are many uncontrollable obstacles in life that make things more challenging, Shapiro does not “remotely” believe it is over and stated that people have the ability to make decisions to better their future.
“The reality is the steps toward success in a free society are the same as they always were,” he said. “Take responsible action. Go get an education, get a job, make smart financial decisions, make a smart decision about your family.”
More Opportunities Today Than With Previous Generations
Shapiro also said the American dream is alive and well because of the number of opportunities people have access to today. He explained that many in the U.S. have relatives who moved here from another place where they felt more secure but left in search of better opportunities for their families.
“Are you telling me that my kids have less opportunity in America today in 2024 than my great-grandparents did when they showed up in like 1907 not speaking a word of English and get off the boat and by the way no real welfare programs no giant social safety net?” he said.
Shapiro furthered his stance by stating that people believe “we are the most victimized generation” and strongly disagreed with that mindset. “Like, what are you talking about? By what metric are you the most victimized generation? That sounds harsh because people kind of cherish that sense of victimization because it throws the responsibility on somebody else.”
Most Millionaires Built Their Wealth
According to Shapiro, some people believe if you’re rich today, you were always wealthy, but that isn’t always the case. “The number of people who are truly like generationally wealthy that I know the number of them who are trust fund babies is vanishingly,” he explained.
Many people have built their own wealth, proving the American dream can still happen. Ramsey Solutions surveyed 10,000 millionaires and found that only 21% of the participants received an inheritance.
Finance guru Dave Ramsey referenced the study in his interview with Shapiro and agreed with the assessment that most millionaires in the U.S. created their wealth based on the research. “89% of America’s millionaires, it’s about 21 million of them right now, are not millionaires, this is data,” Ramsey said. “It’s not a feeling; it’s a fact they are not millionaires because of inherited money. 89% — that’s 9 out of 10 that,” he stated. “That should give everyone hearing that number every time I put it out great hope that the American dream is not over.”
You Can Create Your Own Shots in Life
The American dream is about changing your life with determination and grit, which people can do anytime. Hustling and thinking outside the box isn’t easy, but it’s a way to create your own opportunities. Small beginnings can lead to big rewards.
Shapiro used the example of when he first started writing to drive this point.
“I’d write for free just to get my stuff out there and my wife and I remember driving to, like, the local Republican Club in Orange County to find a bunch of 80-year-old women and by a bunch, I mean like 15 and then sell books out of the back of my car at $20 bucks a pop,” he explained. “If we came away with $200 that was like an amazing day.”
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