The cost of achieving the American Dream has escalated to an estimated $4.4 million, reflecting a substantial increase from the previous year's figure of $3.4 million. This sum encompasses major expenses like homeownership, which accounts for over 20% of the total cost. Homeownership, viewed as a cornerstone of the American Dream, now requires nearly $930,000 to achieve. Other milestones adding to this financial burden include raising children and retirement savings. With the current homeownership rate at 65.6%, many Americans find it increasingly difficult to attain these traditional life goals in today's financial landscape.
Living the American Dream costs $4.4 million, with homeownership expenses showing significant increases, posing greater challenges for Americans to achieve traditional milestones.
The estimated lifetime household cost of achieving the American Dream has surged to a staggering $4.4 million, primarily driven by rising housing and retirement expenses.
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