The cost of the “American Dream”?
The “American dream” has always been just a dream for many Americans.
Can you afford it?
USA Today has the findings of Investopedia’s annual study on the cost of achieving it…total price tag? $4.4 MILLION dollars!
Here’s the breakdown:
- Retirement: $1.6 million saved to retire comfortably
- Owning a home: $930,000 over the course of your life
- Raising two kids: $832,000
- Owning new cars: $811,000 (that’s NEW, not used)
- Yearly vacations: $179,000
- A BIG wedding: $44,000
- Having pets: $37,000
How is it possible?
Well, if you work from 18 to 65, that’s an average of around $100,000 a year, which is way more than most people make…but they say it’s achievable for couples with two incomes.
This is the “living your best life” scenario.
The more modest version is if you worked hard enough, you could buy a house, put some money in the bank and leave your kids better off.
Sadly, for many, that’s becoming more and more out of reach, too.
Are you “on track” with your goals?
