The American Dream used to be a thing. Y’know, the white picket fence and all the other stuff you’re probably well aware of at this point. But is that dream achievable for us in Wisconsin? If so, what is it exactly? Some experts have weighed in with some surprising answers.
Here’s Five Fast Facts About the American Dream in Wisconsin:
- 📊 So Dreamy - After years of inflation, an insane housing market, and mountainous debt, the likelihood of reaching the “American Dream” seems farther off than ever, especially when you consider the average household now spends $10,000 more for the same goods and services they had in 2021.
- 👩👩👧👦 Standards Set - Experts set the cost of the “American Dream” based on the costs of a married couple with two children living in a home for four with a car and a pet. It also includes groceries, healthcare, a mortgage, utilities, education, and child care.
- 🏡 There’s More, Right? - Right. The total is considered as 50% of the household’s income for the 50/30/20 technique. That breaks down to 50% for needs, 30% for wants and 20% for saving or paying debt.
- 🐕 Just Tell Me the Cost in Wisconsin - In order to achieve the American Dream in our state, you’d need to make $161,510. Our median household income is $72,458 which is less than half of that total.
- 🚗 Oh Hi, HI! - The most expensive state is Hawaii with $260,800 and the least expensive is Mississippi at $110,000. More power to you if you want to live there.
🔥Bottom line: Those numbers may take some time to comprehend and sink in. But it certainly looks like you may have to scale back your idea of the American Dream here in Wisconsin, unless you’re already in that income bracket.
What do you think of these numbers and why are you blaming them on Joe Biden?
Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!
Btw, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!
