Updated 9/1/2025
In this post, I’m introducing a new FREE resource on the ten financial mistakes that will derail your American dream.
When new to the country or new to money, for example, starting a new job, it can be very confusing about what steps to take to ensure financial success.
Fears And Concerns
I recall being plagued by some of the same questions, as I was very anxious to take advantage of all that was available. I have walked the same journey, and I understand the anxiety.
For me, a big part of this was understanding what was available, as well as knowing how to access it. Additionally, there was the question of what I could take advantage of, as well as what I needed to avoid.
Over the past year, I have had clients and prospects reach out to me with very specific questions on where to start, as well as how to stay on the right side of the law financially.
Very critical for those who are foreign-born.
Taxes and tax penalties can and do cost thousands of dollars for what are probably avoidable mistakes.
It’s one of the reasons I often include tax discussions in many of my posts.
Financial Stress In Numbers
A recent Capital One Survey, shows that finances are the number one cause of stress for Americans at 73%, which is more than politics (59%), work (49%), and family (46%).
The American Psychological Association’s latest survey on money stress reports that 72% of Americans are stressed about money.
A significant part of financial stress stems from not knowing where to begin and being hesitant to ask questions. The result is a type of paralysis that causes people to delay doing anything (including on money), sometimes for years.
Social Media has become a big part of our lives, and like anything else, it has its pros and cons. One of the most significant issues with social media is its negative effects it can have on our financial lives.
They range from the infamous “FOMO” to making it seem like your neighbors and friends are knowledgeable about finances, implying that you should be as well.
I’m here to tell you, not really. It’s okay not to know everything about your finances, especially when we are happy to provide some of these resources, and you are willing to learn.
The Ten Financial Mistakes That Will Derail Your American Dream
So, to you get past this, I’m creating some long form free financial resources (longer than a typical blog post), that will go into some of the details, with specific steps on how to improve your finances.
The first resource details The Ten Financial Mistakes That Will Derail Your Version Of The American Dream.
In this free resource, I highlight some of the financial mistakes to avoid when it comes to things like:
Workplace benefits – based on what you have available.
Having financial ties in another country – what to watch out for.
Saving for college and thinking about future medical expenses.
The dilemma of having families in two countries, particularly when it comes to retirement, and some of the mistakes you want to avoid in this context, etc.
Sin Of Omission – Mistake No. 10
The final mistake I address is not taking advantage of the available opportunities. I was tempted to call this the sin of omission, but I instead chose to go with Mistake No. 10 – matches the rest of the document.
America is truly the land of opportunity. It is one of the few countries in the world where an individual can significantly alter their family’s trajectory in just one generation.
There is a reason many immigrants have started very successful companies.
Anyone can do this, namely, identify a problem or need and create a solution for it.
I am guilty of simplifying the process a bit here, as we all know that other factors contribute to this, but the general idea still holds.
One advantage of those who are foreign-born is the ability to draw on their life experiences elsewhere and think differently about some of these issues.
If this is you, don’t make mistake No. 10.
If You Are Established Financially
For those who are already financially established and have things running smoothly, use this guide as a checklist.
Use it to identify any gaps that you may not have been aware of, or think of this as a second opinion for what you are doing.
Additional Financial Resources
Since this blog post was published, I have added numerous resources to help you on your American journey.
Financial resources for foreign nationals on Work Visas
Checklist for different phases of your life etc
The IMC Podcast – All About Cross-Border Finances and Taxes
Are You Worried About Making Mistakes With Your US Finances?
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6 Things to Do
When Starting A Job on H-1B Visa
You are starting a new job on a work visa, there are some critical things, that will set up for financial success in the first 3-6 months. Download the free guide below for the detailed list!
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Disclaimer: This article is provided for general information and illustration purposes only. Nothing contained in the material constitutes tax advice, a recommendation for the purchase or sale of any security, investment advisory services, or legal advice. I encourage you to consult a financial planner, accountant, and/or legal counsel for advice specific to your situation. Reproduction of this material is prohibited without written permission from Jane Mepham and all rights are reserved. Read the full disclaimer here.
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