The American Dream has been lost for almost half (41%) of Americans, according to a survey by Yahoo! Finance.
The figure may be shocking but it’s consistent with reality that 49 million Americans are living in poverty and unemployment rate at 16%. Confidence is also low with Americans not willing to take on debt, not confident to buy real estate properties, and spending less in general. Despite the unwillingness to spend, savings is also low compared to three years ago. It is not surprising then that 63% of Americans believe that the economy is getting worse, including 72% of those over the age of 55.
What’s scary though it the finding that 37% of adults have no retirement savings and 38% plan to live off Social Security.
All is not lost though as 53% of Americans between the ages of 18-34 still see America as the land of opportunity. About 45% of parent also believe that their kids will be better off than they are. There’s hope apparently.
How about you, how do you feel about the American Dream?