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Posted on 12/07/2023 11:07:33 AM PST by bitt
The classic "American Dream" including two kids, a house, and car costs more than most make in a lifetime.
The American Dream now costs $3,455,305—that's the estimated lifetime cost of common milestones including marriage, two children, homes, healthcare, cars, and education.
The cost of raising two children to the age of 18 is now estimated at over half a million dollars ($576,896). The average lifetime cost of a home including a mortgage with a 10% down payment and a 30-year fixed rate of 7.2% is now about $796,998, according to Investopedia's analysis.
The American Dream now costs $3,455,305—that's the estimated lifetime cost of common milestones including marriage, two children, homes, healthcare, cars, and education. The American Dream was one of Investopedia's top searched terms of the year, and is typically used to refer to major aspirational events and purchases like buying a home and car, getting married, having kids, and economically prospering. But rising costs have made the typical "American Dream" out of reach for many. In fact, the average lifetime earnings of Americans across all education levels is approximately $2.3 million 1 —that's over one million short of the estimated cost of the American Dream.
(Excerpt) Read more at investopedia.com ...
We’re too busy giving trillions away to foreign countries, foreign wars, and providing welfare, social services, cash, medical care for 35 million illegal aliens.
The majority of young folk in the U.S. are screwed. Ferrget it!
A million bucks for health insurance!
If they can't buy something why infer the “cost” of something they aren't doing.
I’m glad I obtained it when I did.
Can I settle for a pipe dream? ..or perhaps just a fantasy? ??
My 27 year old daughter has 2 homes. One has two apartments she rents out. The other she is just finishing up renovations on where she will live.
It’s an example.
How many do you know in their twenties and thirties who are buying half million dollar homes, having babies, buying cars etc?
So what. Ya think she’s the norm?
Good grief!
They could learn to code, or something.
Right...Even a run down flophouse apartment building in the west will run anywhere from 5 to 20+++ million.
Out west, she'd need to be a multimillionaire to do that. You're not kidding anyone.
By 2030 you will own nothing and be happy!
Pet care? For our dogs, we always pulled some mutt off the street and supplemented dog food with table scraps. Always had a barker so we saved money from having to buy a burlar alarm system. Gave them baths with the garden hose. Not that expensive at all to own a pet. Maybe $500 a year.
How did they come up with $68,000?
I’d bet money there are upwards of 10 million homeless in America today.
This is fear pr0n.
This is a LIFETIME OF costs.
Let’s spread it out over 30 years….that $113,333 per year.
BUT…this also involves a couple covering the costs. Thus, $56,666 per couple per year gets it done.
Factor in regional cost and income differentials, and this is Not impossible.
Start smaller. We are in NJ. Compared to Los Angeles it’s only about 10% cheaper here in our county.
Slot of inheritance money out there. Good your kids were able to get some of that easy money.
Yes. All these whiners among the young these days. My wife and I grew up poor, worked our butts off, lived below our means, got a home, raised kids and put them through college. There were times when I only had a dollar to buy coffee and a donut and no lunch to get through long work days, for months. No splurging, buy only necessities and you can do it. Foreigners flood in with nothing, and within a generation their kids are doing well. It can still be done.
Who am I trying to kid?
If you are paying $796,998 you are buying a blue state house in a metro with a ghetto within a 5-minute drive OR you are buying in a blue neighborhood in a red state. Millenials would rather live in a shite apt than buy a ranch in an exurb and renovate.
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