It used to be that the Great American Dream was owning your own home. With the economy in the shape it’s in, that dream is proving to be ever more elusive. Thousands of homeowners were forced out of their Great American Dreams last year as foreclosures skyrocketed. Legislation is pending to slow this process down-at least until the economy can be put back on track, if ever-but for many, the damage is already done.

If you didn’t face or suffer through foreclosure because you’re not yet a homeowner, it’s likely that the challenges you face in achieving the Great American Dream are steep and forbidding. Banks have put a stranglehold on their credit policies and unless you are a borrower with an impeccable credit history, it’s unlikely that you’ll be able to get a mortgage. Even if you can, the days of 0% down are long gone, so you’ll need plenty of available cash for a substantial down payment as well as closing costs. This is of course if you’re even willing to undertake a long-term mortgage commitment because of uncertainties in the job market. Hopefully you’re still employed, but today, it’s pretty difficult to know how long that will last.

The Great American Dream is for many quickly becoming the Impossible Dream. In fact it may not even be a dream anymore at all-when you’re trying desperately to survive, buying a home is the least of your worries. Putting food on the table and paying your bills is far more important.

All of these issues point back to a generally declining sense of financial security among people everywhere. We all have different perceptions of what financial security really is, but one definition that works would be total financial independence-regardless of the situation or the problems that you face, you have sufficient financial resources to weather the storm without relying on anyone else. Short-term financial security could be defined as the ability sail through the current recessionary problems smoothly. Long-term financial security could be defined as a long, prosperous and comfortable retirement.

The key to financial security is to first understand what the term means to you, and then to take stock of where you are in relation to it. Cast off preconceptions and be realistic in your appraisal. If you identify deficiencies, take steps, today, to correct them. You might well need to bring more income into your life. Perhaps you need to shore up your long-term investment strategies. Regardless of your situation, achieving financial security is proactive process, not a reactionary one. Get started now and enjoy tomorrow.