The American Dream is getting out of reach for many Americans. According to an analysis by Investopedia, the cost of achieving the “American Dream” has soared to $5.3 million over a lifetime — nearly $2 million more than it was just three years ago, in 2023. The concept of the American Dream was first coined in 1931 by writer James Truslow Adams. In his book 'The Epic of America', Adams described it as “that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement.” Investopedia defines the American Dream as “owning a home, buying new cars, raising two children and sending them to college, retiring, paying for healthcare, having a wedding, owning pets, and taking a yearly vacation.”
The cost of the so-called American Dream was $5 million last year, $4.4 million in 2024 and just $3.4 million in 2023, the New York Post reported, citing Investopedia.
