A recent analysis claims the cost of living the American Dream is $130k per year for a family of four, according to USA Today.
The U.S. Census Bureau shows only 16 million households in the U.S. earned this amount in 2013, according to USA Today.
“The financial crisis, housing bust and Great Recession have caused us to worry that the American Dream is out of reach,” USA Today states.
Chasing the American Dream was co-written by Kirk A. Foster, Mark Robert Bank and Thomas Hirschl. The book details what the American Dream is and reasonings why it is becoming hard to reach, according to USA Today.
“In their book, the authors write that besides economic security, the American dream includes finding and pursuing a rewarding career, leading a healthy and personally fulfilling life, and being able to retire in comfort,” USA Today states
Home ownership, educational expenses and annual health premiums all contribute to the new American dream cost of living. This also includes the total cost to own a four-wheel drive vehicle, taxes and a moderate-grocery plan, according to USA Today.
Danielle Currie, graduate student at Georgia State, said her own American dream is to succeed in every aspect of life.
“I want a good husband and a nice house, with two kids, and to succeed in my career. I think it will be hard for me to reach because of school loans. In America, it seems like rich people succeed at the American dream,” she said.
Quinn Edwards, journalism major at Georgia State, said she wants to be financially comfortable.
” I just don’t want money to hold me back from doing or achieving anything in life,” Edwards said.
The American dream is still reachable, but the amount of people who can afford it are slimming down, according to USA Today.
