No way you're raising two kids and putting them both through college for under a million. Not in today's economy and certainly not in the hellscape we'll be in 18 years from now.
this post was submitted on 26 Oct 2024
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What I'm seeing is that if you're a childless millennial that doesn't take vacations, assumes retirement is just another way to say 'dead', and don't own a house then the American Dream is still very affordable!
Food seems to be free.
And if this is an American couple in America doing the American dream, one would expect at like, a million dollars in healthcare expenses too.
I easily cut that in half by not having kids and pets (personal choice), not spending 44k for a wedding, and not spending 800k on cars. I’ve owned 3 cars over 15 years and they cost 80k total (including loan payments).
Those are some inflated numbers
Some of them perhaps, but the home is understated if anything, especially with interest rates in the 7% range. They're also not accounting for taxes, utilities, repairs, and insurance
home is understated if anything, especially with interest rates in the 7% range
Yeah, interest rates being this high are no joke. I bought in mid-ish 2020, and am paying 3%. Have a friend that bought a house that's roughly the same $ as mine, but his rates are 6.8something% and he pays damn near double what I'm paying which was just... shocking.