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Financial Freedom & the American Dream: Independence Day Reflections

Scott Inman

I hope you and your family are having a great 4th of July weekend, and have had the chance to take create memories and take part in the fun traditions that we’ve established to celebrate the birth of our country.

Financial Freedom and American Independence

I read an email this week from Brian Wesbury, the Chief Economist for First Trust Advisors, that was very impactful for me and wanted to share some of it.

At first, I thought about saying that this is a departure from the financial topics we usually discuss on the Fastest 4. But, the more I thought about it, they are connected. We wouldn’t have the opportunity for financial independence without Independence Day.

Ronald Reagan’s Notre Dame Commencement Address

Wesbury quotes part of a Commencement Address delivered by Ronald Reagan at Notre Dame in 1981. 

Reagan spoke these words.

“This Nation was born when a band of men, the Founding Fathers, a group so unique we’ve never seen their like since, rose to such selfless heights. Lawyers, tradesmen, merchants, farmers — fifty-six men achieved security and standing in life but valued freedom more. They pledged their lives, their fortunes, and their sacred honor. Sixteen of them gave their lives. Most gave their fortunes. All preserved their sacred honor.”

The Legacy of the Founding Fathers

“They gave us more than a nation. They brought to all mankind for the first time the concept that man was born free, that each of us has inalienable rights, ours by the grace of God, and that government was created by us for our convenience, having only the powers that we choose to give it. This is the heritage that you’re about to claim as you come out to join the society made up of those who have preceded you by a few years, or some of us by a great many.”

America’s Rapid Progress in World History

“This experiment in man’s relation to man is a few years into its third century. Saying that may make it sound quite old. But let’s look at it from another viewpoint or perspective. A few years ago, someone figured out that if you could condense the entire history of life on Earth into a motion picture that would run for 24 hours a day, 365 days — maybe on leap years we could have an intermission — this idea that is the United States wouldn’t appear on the screen until 3.5 seconds before midnight on December 31st. And in those 3.5 seconds not only would a new concept of society come into being, a golden hope for all mankind, but more than half the activity, economic activity in world history, would take place on this continent. Free to express their genius, individual Americans, men and women, in 3.5 seconds, would perform such miracles of invention, construction, and production as the world had never seen.”

Closing Thoughts on America’s Success

America has its problems, no doubt, but this experiment is still the most successful one in human history. Happy 4th of July.

The opinions voiced in this video and blog are for general information only and are not intended to provide specific advice or recommendations for any individual.

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Independent Advisor Alliance. Independent Advisor Alliance and GenWealth Financial Advisors are separate entities from LPL Financial.

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