The American Dream now costs $5.32 million over a lifetime.
That's Investopedia's new tally: a home, two new cars, raising two kids through college, retirement, healthcare, a wedding, pets and a yearly vacation. It went up 4.1% in one year. Paychecks went up 3.1%. Even a college grad comes up about $1.2 million short.
Now look at the cars. $1.21 million, because the math assumes you buy two new ones every five years. Around here we call that crazy. A paid-off car that starts in January is worth more than any new-car smell.
The real problem isn't that folks dream too big. It's that everything costs more every year and wages never catch up. Get spending under control in Washington and on Beacon Hill, and the dollar might stretch again.
What's the oldest car in your driveway? Post it in the comments.
#MOAM #CostOfLiving #AmericanDream #Massachusetts
Sources: Investopedia | Fortune
MOAM Out.
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