The American Dream, What It Really Costs!
A report from Fortune states that Research shows cost of American Dream Staggering; The American Dream cost over $1 million more than most
Americans will make in their lifetime, a potential $4.4 million.
$4.4 Million dollars is nearly $1 million more than most Americans will earn in their lifetimes.
Top 10% of Americans have a household median net worth of about $3.8 Millon.
The American Dream cost
The report noted that Americans need to start saving from the moment they land their first job out of college at 22 years old and continue saving until they reach 65 in order to retire comfortably (or pay for assisted living later in life).
That is, if they want to be able to live off the recommended 4% withdrawal each year—or roughly $64,000 for 20 years.
Retirement: $1,599,995
Owning a home: $929,955
Raising two children plus college: $832,172
Owning a new car: $811,440
Yearly vacation: $179,109
Wedding: $44,300
Pets: $36,626
Funeral: $8,453
Total: $4,442,050
