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Speaker 1: So the American Dream costs how much?

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Speaker 2: Five million dollars?

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Speaker 1: Now I'm out. Now this is over.

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Speaker 2: Your lifetime and there are eight key components of the

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Speaker 2: American Dream. This is according to Investopedia.

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Speaker 1: Oh that's over your lifetime. Yeah, you make five million dollars.

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Speaker 1: I don't have to have five million.

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Speaker 2: No, not currently, but over your lifetime. It's actually five million,

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Speaker 2: forty three, three hundred and twenty three dollars to achieve

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Speaker 2: eight key components to achieve the American dream two point

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Speaker 2: eight million for US worker with a bachelor's degree. Yeah,

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Speaker 2: that's what they're saying. Oka coverage lifetime earnings.

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Speaker 1: What are the components? Wait wait wait I thought it

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Speaker 1: was five million. Well it's five million.

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Speaker 2: Average lifetime earnings is two point eight So that's what

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Speaker 2: they're saying. The cost of the American Dream, it's out

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Speaker 2: of reach.

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Speaker 1: Oh okay, I give you.

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Speaker 2: We need five million.

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Speaker 1: Okay, So here's the news, and then the bad news

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Speaker 1: is you're not going to get it right. Oh okay, perfect,

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Speaker 1: thank you, Casey.

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Speaker 2: So would you like to know the eight core components

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Speaker 2: of the American.

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Speaker 1: Dream totally and their cost? Yes?

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Speaker 2: Okay, So this is based on twenty years of retirement spending.

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Speaker 2: The number one component is retirement. You need one point

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Speaker 2: six million dollars to do that. It is the most

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Speaker 2: expensive component of the American dream.

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Speaker 1: Yeah, okay.

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Speaker 2: Home ownership nine hundred and fifty seven thousand dollars. This

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Speaker 2: includes a home purchase plus a thirty year mortgage with interest, insurance,

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Speaker 2: and taxes. And that number has gone up by about

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Speaker 2: thirty thousand dollars from last year.

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Speaker 1: Well that's a pretty decent home, though, I mean, because

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Speaker 1: what is it usually like you paid double in the house,

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Speaker 1: like over the lifetime with whatever your plan.

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Speaker 2: Is with your interest.

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Speaker 1: Yeah. You so if you're saying it's well, you're also

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Speaker 1: saying property taxes are included in that too. So I

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Speaker 1: mean that's a you know whatever. That would be a

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Speaker 1: three three, four hundred thousand dollars house. Okay, all right,

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Speaker 1: very good.

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Speaker 2: Owning new cars, two car household, replacing cars every ten years,

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Speaker 2: you need nine hundred thousand, three hundred and forty six dollars.

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Speaker 1: Wait, wait, replacing a car, two cars.

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Speaker 2: Two car household, and you replace the replace the cars

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Speaker 2: every ten years.

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Speaker 1: Every ten years, so.

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Speaker 2: For your lifetime, you'll spend nine hundred thousand dollars.

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Speaker 1: Okay, However, if we're in a two car houseold, that

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Speaker 1: means we're a two income household too, right, I mean,

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Speaker 1: why would I need two cars.

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Speaker 2: If you don't have two incomes, if two people not

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Speaker 2: leaving all the time.

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Speaker 1: Unless you're like me and you have one car that

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Speaker 1: barely works, then you need a car that actually.

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Speaker 2: Works, a lot of that has to do with marketing, though,

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Speaker 2: where people are all the time exposed to all the

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Speaker 2: fanciest and latest new car and you need this when

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Speaker 2: really you don't. The car you have is running fine.

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Speaker 1: Well that's you know. Look Okay, So there are like

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Speaker 1: there's car guy right who that's some And this is

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Speaker 1: in no way meant to be anyway negative. But there's

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Speaker 1: car guy who That's what they are. They're into cars.

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Speaker 1: That's their hobby. Now, Like, do you have hobbies? I

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Speaker 1: mean baking but outside of radio? Like, do you have

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Speaker 1: a hot like things?

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Speaker 2: You?

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Speaker 1: I mean, I know you enjoy hiking, et cetera, But

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Speaker 1: do you have I've never heard you to collect anything

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Speaker 1: or no, I'm not really a collector.

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Speaker 2: So I mean I used to do the scrap booking

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Speaker 2: when my daughter was young and that sort of thing.

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Speaker 1: Then you just figured out she won't appreciate us. What's

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Speaker 1: the point.

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Speaker 2: It costs a lot of money to do that.

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Speaker 1: That's why the journal is great, because oh you need

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Speaker 1: is a blank page paper, even if she doesn't appreciate it.

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Speaker 1: At least it costs me a lot of money. But like,

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Speaker 1: what if you were to say my hobby is what

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Speaker 1: would it be pushing your buttons? Well, I asked that

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Speaker 1: because this is my hobby. So like my hobby costs

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Speaker 1: me zero dollars I make I'm making money off of

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Speaker 1: your hobby. So but it depends on So my point is,

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Speaker 1: car guy cars are his hobby, your husband's case, bathroom's

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Speaker 1: full of magazines, his hobby. Right, But take car guy

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Speaker 1: out of the equation because car guy buys for fun

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Speaker 1: because cars are his hobby. And you know, new cars

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Speaker 1: and different cars and whatever. You do raise a great

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Speaker 1: point in I wonder how many people, well it's probably

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Speaker 1: time to get a new car.

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Speaker 2: They're feeling pressure. Yeah, really, they don't need fun.

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Speaker 1: My wife and I've had this conversation at least three

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Speaker 1: times since we've been together, and every time I told her, eh,

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Speaker 1: it ain't time to get a new car. Oh no, no, no, no.

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Speaker 1: I mean now my car is hanging on by a thread.

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Speaker 2: You need a new car, but no.

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Speaker 1: Way, because I'm gonna achieve that American dream if it

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Speaker 1: kills me. Case