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 |
