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The "American Dream" costs far more than most people will earn over their lifetime
(www.cbsnews.com)
this post was submitted on 13 Dec 2023
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If you spent $35K on a wedding, you're doing it wrong.
If you read the actual original Investopedia article, most of these claimed costs make silly assumptions about the definition of "The American Dream" and a lot of the data is cherry picked.
They claim the "American dream" requires an $800k house at an over 7% interest rate and they assume you only put 10% down.
They claim the "American dream" involves buying a different used car every 6 years.
They claim the "American dream" involves spending $70k on pets over the course of your lifetime.
Its an interesting exercise, but the assumptions are weird and the headline is sensational.
The $800k house figure includes interest payments. So the value of the home will be much, much less than $800k.