An Ignoble Experiment: You Can Still Achieve the American Dream Through Hard Work

Editor's note: Our offices are closed for Labor Day. In honor of the holiday, we're rerunning a classic essay from Daily editor Teeka Tiwari about hard work…

You Can Still Achieve the American Dream Through Hard Work

I wasn't born in the United States. But I love this country with all my heart.

America gave me everything I value: opportunity, mentors, love, friendship, and the type of painful life lessons only a free-market economy can provide.

Most importantly, America gave me the freedom to pursue the life I wanted on my own terms.

That's why on this Labor Day, I want to honor American workers and their spirit of free enterprise.

That ideal – and the millions of Americans who still embrace it – are what drew me to this country in the first place.

And that's why I continue to fight for them and do whatever I can to help as many of them as possible.

Friends, I know it's hard out there for most workers. I get it. At one time, I was in the same position as many of you.

But there are three important habits I adopted over the years that helped turn around my life. If you adopt them, I believe they'll help you do the same.

So on this Labor Day, allow me to share the story of my journey to achieving my American dream.

Hopefully, it will inspire you to do the same…

I Worked Hard to Achieve My American Dream

Today, I live by the ocean in the Caribbean. And I spend a lot of time sailing on my 50-foot catamaran.

I'm sure many people see this and think I'm just some rich guy from Wall Street who was born with a silver spoon in my mouth.

Nothing could be further from the truth…

I grew up in Britain's foster care system. I lived in a cramped, unheated room on top of a garage. At night, I watched my breath coil into a frigid mist.

And the future looked as bleak as my tiny room.

Since I was 12, I dreamed of working in the stock market. I once shared that dream with my school job counselor. His response? He told me to be more realistic.

"Be a telephone repairman," he advised me.

But I knew in my heart my future was in the financial markets.

As a teenager trapped in the foster care system, I soon realized no one was going to rescue me… That meant I had to rescue myself.

So when I turned 16, I left for the land of freedom: America.

I arrived in this country in 1987 with only $150 in my pocket and literally the clothes on my back.

American capitalism allowed me to become a self-made multimillionaire. But it wasn't easy.

When I first arrived in the United States, I lived in a tiny apartment in Queens, N.Y.

During the day, I worked 8-hour shifts at Roy Rogers. At night, I worked 4-hour shifts at the Key Food supermarket – bagging groceries and sweeping floors.

On Saturday and Sunday, I'd work 12-hour shifts at a newspaper store stocking shelves and preparing the Sunday papers.

It never bothered me to work like that. I never felt somebody owed me anything.

I was overjoyed I had the freedom to find so much work. To me, America was a paradise. A place that rewarded hard work.

But I still had a dream to pursue. I wanted to make it on Wall Street.

So when I turned 18, I wrangled an introduction with a hiring manager at Lehman Brothers. He had no interest in me until I told him I'd work for free.

I was so overjoyed that someone was willing to give me a shot.

At Lehman, they would work you for a full week and only pay you for 29 hours, so they didn't have to give you benefits. My pay was a whopping $4 per hour.

To make ends meet, at night I'd work on a loading dock in Brooklyn. And on the weekends, I'd work 12-hour shifts, Saturday and Sunday, in the kitchen of a local diner.

But I didn't care about that. Lehman had given a kid with no skills a chance, and that was all I needed.

By the time I was 20, I had become the youngest vice president in Shearson Lehman history.

I worked on Wall Street for 15 years as a money manager. I made good money. But helping the rich get richer just left me feeling empty.

I had success. I had accolades. But I wasn't happy.

I realized on Wall Street I was extracting value from the world. I wasn't adding value. I was part of a system that was actually widening the gap between the "haves" and the "have nots."

And coming from my blue-collar background where I started out loading trucks… working in kitchens… mopping floors… It just never felt right to me.

America has given so much to me. And I wanted to give back.

So I left Wall Street and joined the newsletter industry in 2005.

I wanted to help everyday people like me – people who are willing to work hard, be focused, and do the right thing – have a legitimate shot at financial freedom.

My goal ever since has been to help everyday investors bridge the widening wealth gap.

We aren't born with the knowledge to do that. So if I can help bridge the gap for you, I believe that's work worth doing.

Start Working on These Three Habits

Now, I'm not going to sit here and tell you it will be easy to reach your American Dream. It won't… Especially if you make the wrong decisions.

But if you can learn the right habits, they'll eventually take you down the path to success.

These three habits are simple in theory but hard for many people to pull off in practice. You'll need to train yourself every day to master them.

Habit No. 1: Live on less than you earn.

If you consistently keep more than you spend, you'll have a surplus of money. Simple, right?

Habit No. 2: Maximize your ability to earn from your current job.

Your single biggest source of income is your job. Most jobs will pay you more money as your skill set rises.

So the quickest way to make more money is to improve your skills. Put yourself on a skill-development track to become world-class at your job.

If you don't know how… no problem. Here's what you do…

Offer to take the most successful person at your company out to lunch. Ask this person about their work habits. Acknowledge their success and ask them, "What do you do that's different from everyone else?"

Don't interrupt them. Just listen and take notes. By the end of the lunch, you'll have the beginning of a blueprint for becoming world-class at your job.

If your firm doesn't recognize your improved performance, that's okay. Find another employer that will. Be sure to negotiate for more money. And never leave a job without having another one lined up first.

Habit No. 3: Create multiple streams of income.

If you've nailed the first two habits, No. 3 is how you turbocharge your wealth.

This is where you invest in low-risk, income-producing stocks, real estate, or private businesses. Also, this is where you can incorporate a "side hustle" for extra income.

Side hustles include – but aren't limited to – Uber driving, Postmates/Grubhub deliveries, selling crafts on Etsy, buying and selling on eBay, etc.

You just keep reinvesting all your surplus capital into low-risk, income-producing investments. Lo and behold, in about seven years, you'll be rich.

Take Control of Your Financial Future Now

Friends, I was never handed anything in life… except a green card that let me work in America.

America gave me the opportunity to get everything I value.

That's why I still have faith in this country. I still believe if you work hard, save, and invest wisely, you'll be rewarded.

I know times are tough. But you are tougher. You can take control of your actions and start changing your life right now.

So on this Labor Day, I'll continue to honor the American spirit of free enterprise. It's the reason the three habits I shared above make it possible for anyone, starting from anywhere, to develop a roadmap to success.

And while I will continue fighting for regular folks and helping them reach their financial goals… As I learned on my own journey, the only way to create lasting wealth is to dedicate yourself to hard work.

Let the Game Come to You!

Big T