The American Dream Now Costs $3.4 Million

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

[Flaming Conservative]

I’m so thankful to God (and my husband’s relatives) for our crummy little fixer upper. It’s not a mansion; I can wait for Heaven for that. But it’s paid for and the taxes are practically non-existent. We purchased it from his Aunt, who practically gave it away, and another fixer upper from his cousin that we’re giving to my son. I’ve never been in love with money, but even with the above, prices are getting way out of hand for us. A humble pot roast is now $5-$6 a pound. I think there’s also price gouging. (And I really don’t need to hear from the FReepers who think any price, no matter how high is good business. There’s good business, then there’s greed).

[dragnet2]

My 27 year old daughter has 2 homes. One has two apartments she rents out.

LOL! Did she win the lotto at 22?

[metmom]

I wonder what they use to measure that.

What do they allow for essentials and extras? Does that include electronic gadgets? Private schooling? The latest trendy designer clothes?

How big of a house and how many and how new the cars?

[glorgau]

I’d leave off the final $7,848 for the funeral. That’s somebody else’s problem.

[Fuzz]

No. 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.

[Bob Ireland]

***I’d bet money there are upwards of 10 million homeless in America today***

I suspect perhaps 3 times that many...❓ ... and growing❗ Plus don't forget all the invaders being supported by our tax {?} dollars. What happens when the goose that lays the golden egg dies - which it is destined to do?

[dragnet2]

Go away, bother someone else with your BS.

[dragnet2]

You’re probably right. 10 million homeless was just a guess...Could be close to 30 million. I dunno...

[Fuzz]

BS?

LOL

Everything I said is true. Why so bitter?

[Antoninus]

Yeah, no.

Many things wrong with this, as follows:

Cost of home with mortgage $800K -- but it leaves you with a +$500,000 piece of real estate afterwards

$68K pet care costs? Not a chance unless you're insane.

College tuition costs -- I notice that the chart assumes parents will pay for their children's college. That is an idea which should go the way of the dodo.

Note that TAXES are not included anywhere on this list and they're a huge chunk of anyone's expenses. Maybe the biggest if you include state-mandated insurance costs.

[dragnet2]

My 27 year old daughter has 2 homes. One has two apartments she rents out.

And let me guess, she did all that by the time she was 22...lol

Yep, your offspring is so typical of todays America. You guys are just too good.

100% cowflop.

[Responsibility2nd]

3.4 Million divided by 30 years (average career) is $111,346.67 per year.

The average US income is $31,133 per year.

I think I see a problem here.

[Antoninus]

But the majority of the young working folk can't buy real-estate.

Correct. 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.

[Fuzz]

No. She was 25 when she bought the duplex. 27 when she bought her home.

Both were fixed uppers.

She works hard and smart. Proud of her.

[dragnet2]

Yep...Even at 50k per year, after taxes that’s what, 34K?

The young folk are screwed...So sad.

[nutmeg]

.

[Antoninus]

Yep...Even at 50k per year, after taxes that’s what, 34K?

Most people earning $50K pay zero taxes. If you have kids, you actually come out ahead at tax time with all the credits available.

[Responsibility2nd]

The only real alternative to making this work is NOT to live in New York, California or any liberal city or state.

[dragnet2]

Most people earning $50K pay zero taxes.

If you believe that, you'll believer anything.

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

[dragnet2]

That’s most of the country since there is no such thing as a major city which is conservative. All major cities are run by leftist.