“Is the American Dream Dead? Discover 15 Shocking Reasons It’s Slipping Through Our Fingers!”
1. Wealth Inequality
The wealth gap in America has hit historic highs. Now, the top 1% own more than the bottom 90%. With this type of wealth disparity, it’s getting more challenging for most people to grow wealth and boost their financial situation.
Being stuck in survival mode, racking up debt, and living paycheck to paycheck makes it feel impossible for those in poverty to see a way out to a brighter future.
2. Slow Wage Growth
One critical aspect of the American Dream is giving your family a better life. But sadly, wages have stayed the same for years, not keeping up with the rising prices of even the essentials. As inflation for goods and services soar, how can anyone keep up with the same purchasing power? They can’t.
Research suggests that when you account for inflation, the average hourly wage in America hasn’t gone up since the ’70s.
3. Cost Of Education
A college degree was once considered a golden ticket to a bright future. Today, it means a lifetime of debt without assurance of a well-paying job. Student debt is at an all-time high, soaring 66% in the last 10 years to 1.7 trillion dollars.
The burden of a large student loan can be the biggest hurdle to achieving money and life goals. It can make it feel impossible to start a business or buy a home.
4. Job Insecurity
Job security? It’s more of a thing of previous generations. With the rise of the gig economy (which was supposed to bring flexibility), the job market turned into unpredictable work, up-and-down income, and no safety nets. This situation casts a dark shadow on the American dream, challenging individuals’ financial stability.
