Morning Blend on Mater Dei Radio: “Cost of the American Dream”
There are so many qualities we love about America. Many people strive to live here in hopes of experiencing the joys it can provide, but at what cost?
The American Dream encompasses the classic norms we associate with it: getting married, owning a home, having children (perhaps even a dog or two), and retiring, among others.
We’ve all noticed the cost of certain things increase over the last year few years, and the American Dream is no exception.
In 2024 a report shared that the American Dream would cost $4.4 million.
Of course this is an aspirational figure. You don’t need to make this amount in order to live it. Remember, if you save and invest your retirement funds, you’re allowing it to grow into the number you need. Don’t let the cost of retirement scare you!
One surprising figure is the cost to drive reliable cars consistently through your life. The report assumes you are purchasing and financing a new car every few years for 2 people. This doesn’t even include gas! If that feels like too much, you can consider ways to lower it.
The lifetime cost of buying and owning a home is just under $1 million. Now, this is considering a modest home, this isn’t an extravagant home and property. It also includes what it takes to maintain the home. What would you include in your American Dream?
Listen to the interview
About the Morning Blend on Mater Dei Radio
Mater Dei Radio is a Catholic broadcasting apostolate dedicated bringing souls to Jesus through the Blessed Virgin Mary. We hope your faith will be inspired and deepened through our 24-hour radio broadcast, original shows and podcasts, community calendar, social media, and more!
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