The American Dream Now Costs Over $4 Million

Welcome to a new week here on the Retirement Quick Tips podcast! I’m your host, Ashley Micciche.

Back in March, I came across a 2024 report from Investopedia that looked at all the things that define the American Dream - getting married, buying a house with that white picket fence, having kids, driving a nice, reliable car, owning pets, taking an annual vacation, saving enough for a comfortable retirement,and having a funeral where they don’t throw your body in a pine box (unless you’re into that minimal aesthetic). 

What does it all cost to live the American Dream over your lifetime? $4.4 million. Can you live a fulfilling life with less? Absolutely! But I think exploring these areas together is a helpful exercise to see how your attitudes and beliefs on spending money compare to what the average American says are what they want to achieve in life. 

So this week, I’ll break down each of these categories of “livin the dream”, explain how Investopedia came up with their numbers and see how that compares with your own personal definition of the American dream. Come on back tomorrow…where I’m starting at the beginning and the end. We’ll talk about wedding and funeral costs.