American dream may explain why the nation suffers from chronic vacation deficit syndrome
All work and no play make Jack a dull boy, but the American Dream says hard work can also lead to success. The belief may explain why the nation suffers from chronic “Vacation Deficit Syndrome.”
About one-third of U.S. workers forfeit some of their vacation days every year, according to the latest data from Expedia.com, an online travel service that’s documented the nation’s prolonged vacation deficit in a series of annual polls. About 20 percent say they’ve cancelled or postponed vacation plans because of work.
More than 10 percent of American workers recently surveyed by careerbuilder.com, an online job service, say they feel guilty when they’re on vacation because they’re not at work.
Workaholic habits can cause burnout, but it can also lead to wealth. Surveys of America’s wealthiest investors consistently show that hard work is the most important factor in creating wealth. The vast majority (95 percent) of Millionaires surveyed by Spectrem Group in April attribute their wealth primarily to hard work. Education, smart investing and frugality are also top factors. (Spectrem defines Millionaires as having a net worth of $1 million to $5 million, not including primary residence.)
“A large percentage of Millionaires are self-made individuals who realized the American Dream through hard work and ingenuity,” said Catherine McBreen, managing director of Spectrem Group, a Chicago-area market research firm specializing in wealthy investors.
“The wealthy tend to work significantly longer hours than the less wealthy and, contrary to stereotype, tend not to spend a significant portion of their wealth on luxuries.”