The American Dream Now Costs $3.4 Million

investopedia.com ^ | 12/5/2023 | By HIRANMAYI SRINIVASAN

[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.

[chuck allen]

You sound jealous of Fuss’s daughter, why? Give the kid props, it can be done by the young, I’ve seen it.

[dragnet2]

Buy two homes and have rentals by the time your 25...lol

Ya think that’s typical in this country? Or is someone here just blowing their horn?

[chuck allen]

I know a 24 year old getting married in June, he’s already got a home for his wife. He became an actuary after College, makes good bucks.

[Antoninus]

Tell me, why aren't 25 year old's buying homes, getting married and having babies if it's all so reasonable?

Uh, the reason is this --

Over 50% Of Liberal, White Women Under 30 Have A Mental Health Issue

I work with numerous young women. Of them, only a handful are married and they're all in their 40s or 50s. All of the 20-somethings are not married, don't want to be married, don't want to have kids, and are heavily into they ghey scene. They have been brainwashed. One of them did get married and was divorced a year later.

Meanwhile, there are young people in our Catholic homeschooling circles who are married at or before 25, have houses and kids on one income.

It's a cultural thing.

[Fuzz]

I never claimed it was typical. My daughter is exceptional though.

[dragnet2]

I see, so young men don’t buy typical half million dollar homes, about the average price out west, because all the women are mental cases....What a hoot!

[Gaffer]

There is ‘another’ dream. The dream of ‘migrants’ and the land of the Big PX where everything is free.

[chuck allen]

It’s not typical because these kids today don’t aspire to greatness, instead they get Art degrees or study Criminal Justice instead of the courses that will pay them handsomely. I know a bunch of 20 something’s that have went both ways. But I have seen it done. Know a 28 year old Real Estate Broker, he started about 5 years ago, now has his own Realtor Office and has 3 Salespeople and office manager. His home is way nicer than mine.

[oldtech]

I’d have to say that I am just about in total agreement with these statements. I’m old,single now(wife died) & getting a bit fed up with the things that are going on nowadays. I sure hope things get better for our younger generation. At this moment, they don’t seem to be facing much of a future.

[crusher2013]

You’re correct.

Inflation has been eroding the standard of living for the middle class and working people for generations.

Inflation is really the transfer of wealth from the Middle Class to Government and the rich (Those who hold wealth in real assets).

I wish more people understood this but then their is a reason why they don’t teach financial literacy.

[Bob Ireland]

***Could be close to 30 million. I dunno***

🤔❓ No media is going to tell you; the govt keeps that info close at hand. We are left to use our reason. Believe me, these millions of invaders are homeless but by the generosity of Dem politicians. It won't last, that is pretty much obvious. No country can afford to support millions of worthless beings living off of the public dole... but we won't be a country much longer anyway as long as this goes on.

That is the plan!

Bless you! IR

[roadcat]

They can't buy real estate on the east or west coast. But there are plenty of locales in the midwest and south where they absolutely can.

Happened to one of my daughters. Got priced out of the market here on the San Francisco Peninsula, and rents were rising. She and her husband along with two kids moved to Des Moines Iowa where his dad and brother live. Daughter and son-in-law bought a fixer-upper in a redevelopment zone in downtown Des Moines. Cost them $80,000 and no property taxes for ten years as long as they fixed it up and preserved historical facade. It was a mansion that was converted to a 9-unit apartment building. Son-in-law renovated it, ripping out the apartments and making a nice residential/office site. The whole neighborhood went upscale as others did likewise. They own it outright with no mortgage, with downtown amenities and a lake within walking distance. Total win for them.

[Signalman]

Some of these costs are just silly, like $35,800 for engagement and wedding rings. I don’t think we spent $1,000 total on those, and we’ve managed to stay married, at least so far.

Agree, unless you're a multi-millionaire or Donald Trump or Elon Musk, any man who spends that kind of money on a wedding ring/engagement ring is a cuck*.

*a weak or servile man (often used as a contemptuous term for a man with moderate or progressive political views)

[oldtech]

I, too, feel that I am blessed in so many areas. I am old, a vet & am widoed for about 4 yrs.now, my immediate family lives nearby,have 4 grandchildren, live in a paid-for 50yr. old house that I can’t afford to fix up, drive an old but reliable car that is also paid for, no debts except normal living expenses, only tax I pay is sales tax,attend a very good church. That about sums it up. I have to to do a little scrimping here & there so this is possible, but I have to say that it’s worth it. All in all, I will not be sad when the time comes to leave this world, but I feel bad for some who may have to remain for many more years.

[Antoninus]

I see, so young men don’t buy typical half million dollar homes, about the average price out west, because all the women are mental cases....What a hoot!

You seem to have a reading comprehension issue. You asked why 25 year olds aren't getting married, having kids, and buying houses. I gave you the answer: Because they are head-cases who have been brainwashed into perpetual adolescents who think that marriage and children are terrible things. If you're a perpetual adolescent, you're never going to buy a house. That's something that mature human beings do.

[HartleyMBaldwin]

The $270,000+ for cars seemed a bit high as well. I don’t think my wife and I have spent more than $60-70K total on all of the vehicles that either of us has ever owned. Of course, it’s not really possible these days to buy a thousand-dollar (or cheaper) beater and keep it running for a few years with only maintenance and minor repairs.

[MinorityRepublican]

You asked why 25 year olds aren't getting married, having kids, and buying houses. I gave you the answer: Because they are head-cases who have been brainwashed into perpetual adolescents who think that marriage and children are terrible things.

That's part of it.

25% of 40 year olds have never been married. Mostly because women are too picky nowadays.

[Sicon]

The American Dream costs a lot for actual AMERCIANS, because we’re all paying for the “free” American Dream our politicians are giving all of the illegals.

[Sicon]

“Masters in engineering, going for a second master’s degree. Works in medical device manufacturing.

Her boyfriend has 2 undergrad degrees and 2 master’s degrees including an MBA.”

Well, you know what they say…

”La de f***ing da”

Your anecdotal evidence of how easy it is to do just fine as a twenty-something today misses the point. Not everyone can afford (or has parents who can afford) to put their kids through multiple college degrees, among other things.

[Flaming Conservative]

I know how you feel about feeling sorry for those in the future. It is my opinion that if a conservative (hopefully Trump) wins the presidential election, it means the bad things we’ve gone through with Biden have been orchestrated by God to bring us to our senses, and God is giving us another chance; but if Democrats win (steal) another election, then it’s all over but the screaming.
And thank you for your service!