How Affordable is the American Dream?

[@Gams619]

Walter White Predicted 737k dollars, but as his son was already 15 and he already had a house and two cars, this number likely matches what you said

[@kaykwanu]

I just want to say that this is one of the best channels that happened to KZbin. Thanks MTW.

[@Karnex1]

8 kids is INSANE in this day and age, but hats off to y'all. Also, it's interesting that even though you are very smart you still willingly throw away 10% of your income so church staff can get richer, it's a known fact that that money does not end up for a good cause. If you are generous and want to be a good Christian or whatever you should donate 10% of your income to charities instead (but research first cause some of them still take a good chunk of money on "administration expenses" and don't do shit).

[@jasserole]

Sorry, eight children??

[@PR-cj8pd]

Mormon, Orthodox jew or trad catholic

[@eldenbrothers]

I kinda knew he’d act like a temporarily offended millionaire from the start and he really did. Just keep biting a 24k new car your entire life! Has such a happy way to live till 60! Driv bf a Toyota hatchback. He didn’t account for 11% interest on used cars and the fact that geographic area for colleges is supremely important in ensuring later job opportunities through an extensive alumni network. Better colleges are more expensive. Out of state you’ll be paying $40k a year for quality education, otherwise you’re stuck with shitty in state colleges.

[@mycoffee2654]

You can also buy cheaper cars, a cheaper house, work to increase your wages, and your kids can get scholarships to pay for college. There are options for making the american dream possible

[@rcorey4344]

Super interesting! Thank you for sharing!!

[@kaykwanu]

I have a good feeling about this one already.

[@normalchannel2185]

May i ask what the exact issue with their methodology was? Other than not including investments? I agree that investments should be included, but if you think about it, it still COSTS you that money. You earned that extra money because you took a risk investing. It should be treated the same as your salary IMO. For example, people who own a business, like mom & pop restaurant and cafe owners also basically get invested money, but we think of it as money they earned. why shouldn't you think of your dividends and your stock increases as money you EARNED? Same thing with 401K. Yes, i agree the graphic that you need 1M dollars to retire involves some issues of its own, but completely disregarding any money you got from interest seems a bit wrong to me. Also, about the Car stuff, i think its just a matter of different methods. Yes, you can get a car for lower, and you can get 2nd hand cars, but is that part of the American Dream? Emphasis on DREAM Also, your estimate using 8 kids is probably slightly flawed, considering how much more cost efficient that would be due to economies of scale. The kids easily could share most of their material possesions, even clothes can be passed down. For most people, it would probably be higher. Also, the state where you live Probably affected this too, since Utah probably has lesser prices than say LA or New York The major issue with this video i find is that half of the time you use anecdotal evidence, and half of the time you use stats. I apologise if this is gauche, but roughly how much do you earn? Since you took the 117K, but that is on average in the USA. Also, that 117 figure is suspicious to me (a lot because its AI). Most places i see a number hovering around 55K for high school diplomas and 80K for Bachelors. usafacts. org/articles /what-are-the-average-salaries-for-our-year-college-graduates/ This one says its around 74 for the MEDIAN, which i think is a better stat to use. Even Doctorates and Masters it showed below 117K www. statista. com/statistics /633863/average-salary-of-undergraduates-in-the-us-by-discipline/ This one is a range from 76K to 66K. (i broke up the links hopefully to avoid censorship As for college, the issue is that most of those jobs that do pay around the 117K require that expensive education. And while in Utah it is possible for kids to fund their own college tuition, that is sadly not the case everywhere. Also having a loan is dumb, and since we did not include it in our costs (As in, if everyone follows the partial support/no support system you mentioned, everyone's kids would have some education loans, which in time would mean everyone would have edu loans to pay off) i don't think we should opt for the loans to reduce the education cost WE have to pay (and in the end, the fact is, no matter who pays, the education still costs roughly the same) As for homes, if we are considering that in say 20 years the dollar will be weaker, then we should also include the opportunity cost that would incur on the money we paid at the start, and what it would have turned into if it was invested. As for selling the house to fund retirement homes, then you don't have any place for your kids to inherit. I still think there should be a way to include the worth of the home, but i don't think that is it. Also both the article and you forgot, that getting a house to buy is also hard, and many people are forced to rent, which is objectively worse. (Since the avg house is around 450K, and you need around 100-120K in salary / year to even qualify for that, and the average/median income is around 60-70-80K) I agree the dying cost is trivial(since you can also just opt to be an organ donor) The Main issue in conclusion is that you are taking estimates from your own personal anecdotes and life, which doesn't necessarily reflect the reality for most people

[@normalchannel2185]

In fact, that 22K per wedding estimate is frankly unbelievable from my perspective. Where i live, even my parent's marriage in 2004 was around 35K USD (using that time exchange rate) AND we live in a country where practically everything is like 5-10x cheaper than the USA. Right now, in my country the average spending on Weddings is 44K USD

[@jonathanpritchard6464]

@@normalchannel2185 You can also spend very, very little on a wedding in the US and still have a nice time. We spent

[@Zosso-1618]

Is this how I learn you’re Mormon?

[@dougcorey3830]

Well, that and that it is a channel from Brigham Young University that is sponsored by The Church of Jesus Christ of Latter-day Saints.

[@Time_Traveling_Corgi]

I don't know how reliable this information is. BYU teaches creationist concepts and doubts evolution.

[@eldenbrothers]

This guys got a screw loose. I can debate him endlessly on his faulty assumptions but I’m sure he’s so sworn to Jesus saving his life and wealth. Temporarily offended millionaire with values that have been prescribed to him and never questioned.