New analysis shows that only 1 in 8 families could afford the cost of living what’s commonly known as the “American Dream.” But what exactly is the American Dream? I assumed that everyone has a different idea of living the American Dream, so how can you put a price of it? This makes sense though, as this really comes down to the basics, like owning your own home and give or take one or two of the things on this general list…
Reporters at USA Today calculated the cost of all those elements that make up the American Dream:
They included the costs of home ownership, moderate-cost groceries, a car, health insurance, taxes, educational expenses for your children, and retirement planning.
They reached an average total of $130,357 per year in household income. The reason that only 1 in 8 families can afford this is simple mathematics. Only 16 million households in America earned that much last year.
What does your American Dream consist of?