https://www.visualcapitalist.com/cost-of-the-american-dream-in-2024/
The American Dream Costs a Hefty $4.4 Million
Below, we breakdown each aspect of the American dream by their lifetime cost as of 2024:
| American Dream | Lifetime Cost | Description |
|---|---|---|
| American Dream Total | $4,442,050 | |
| Retirement | $1,599,995 | Recommended minimum savings for 20 year retirement |
| Owning a new car | $811,440 | Total of new car payments for adults (fuel/maintenance not included) |
| Wedding | $44,300 | Ceremony, reception, and engagement ring |
| Raising two children plus college | $832,172 | Raising children to age 18 and paying for four years at a public college each |
| Owning a home | $929,955 | Buying an existing single-family home with a 30-year mortgage (20% down payment) |
| Pets | $36,626 | Expenses of owning one dog and cat |
| Yearly vacation | $179,109 | Annual vacation from ages 22-84 |
| Funeral | $8,453 | Includes viewing and burial |
Comments
** The three most costly words in the English language are “I haven’t time.”
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The costs from these words are manifold. You can lose the pleasure of time with your family. You can fail to correct a small error that will compound itself later. You can ignore your body’s please for rest and exercise. Whatever the instance, do not allow a supposed lack of time to prevent you from doing the things that preserve your happiness.
There are many ways to organize your time better so that you have the freedom to do what needs to be done. A good leader always has a trusted associate to carry part of the burden during a difficult period, and anyone can turn to PMA to find the energy to do a job faster and better. If you’re constantly pressed for time, you may need to engage in a wholesale analysis of the way you work but never let the lack of a few minutes hold you back from anything you want or need to do.
Napoleon Hill’s Thought for the Day
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