Why A $100,000 Salary Can’t Buy The American Dream
1,212,703
Published 2024-04-17
Chapters:
0:00 Introduction
1:35 Cost of living
3:30 Rise in consumer debt
6:29 Changing American Dream
Produced by: Charlotte Morabito
Edited by: Nora Rappaport
Animation: Jason Reginato, Christina Locopo
Supervising Producer: Lindsey Jacobson
Additional Footage: Getty Images
» Subscribe to CNBC: cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: cnb.cx/SubscribeCNBCtelevision
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Want to make extra money outside of your day job? Take CNBC’s new online course How to Earn Passive Income Online to learn about common passive income streams. Register today and save 50% with discount code EARLYBIRD: cnb.cx/3Iwblnk
Connect with CNBC News Online
Get the latest news: www.cnbc.com/
Follow CNBC on LinkedIn: cnb.cx/LinkedInCNBC
Follow CNBC News on Instagram: cnb.cx/InstagramCNBC
Follow CNBC News on Facebook: cnb.cx/LikeCNBC
Follow CNBC on Threads: cnb.cx/threads
Follow CNBC News on X: cnb.cx/FollowCNBC
#CNBC
Why A $100,000 Salary Can’t Buy The American Dream
All Comments (21)
-
Want to make extra money outside of your day job? Take CNBC’s new online course How to Earn Passive Income Online to learn about common passive income streams. Register today: cnb.cx/3Iwblnk
-
100k is the new 60k
-
I'm 37 and have been working all my life to get to 100k per year. And now that it's on my doorstep, it's not enough. Absolutely ridiculous.
-
Now imagine those of us living on less/way less. It's exhausting
-
I make $102k, it’s $64k after taxes and insurance. Yet all govt programs use your gross income for everything even though they know that isn’t what you make. It’s insane.
-
Put it this way, back in 2005, 48k was worth what 75k is today 😭😭😭
-
CEO wages have definetly kept up with the cost of living.
-
The average person has never been so poor. Millions of families are struggling financially as living expenses hit the highest levels in more than four decades. Over 60% of our country lives paycheck to paycheck and about 40% earns poverty wages. Even after working all their lives, more than a quarter of older people have no savings and many believe they will never be able to retire in dignity, while around 55% of elderly people try to survive on an income of less than 25,000 a year.
-
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
-
I'm 50, and could retire now and live comfortably for the rest of my life; if I die next Tuesday.
-
In 2007, it cost $680 to rent a 1 bedroom. Now it's $2300/month!
-
If my wife and i never invest another dollar, we will have 1.9 million at retirement. This is why people say to do everything in your power (Legally and morally) to get $100k+ invested in your 20s.
-
Before 1982, companies were not allowed to buy their stock back. The law was changed and CEO compensation shot through the roof. In the 1960's, businesses would not lay-off workers unless the company was bleeding lots of red-ink. Now, companies lay-off when they have record profits. The minimum wage use to be indexed to inflation, now it is not. In 1968 when minimum wage was at its greatest purchasing power, CEO's made about 40 times a minimum wage worker, today, it is around 600 times a minimum wage worker.
-
Leaving America is the new American dream. People are desperate.
-
I purchased my home in Woodstock GA for 92k in 2015 for a 2bed 2bath. I pay $565 for my mortgage. I realize how blessed I am to have it in today’s economy.
-
I make 16.50 an hour at a factory. I rent a small trailer to rent in a safe neighborhood for 750. I can afford groceries every week and have nice thrift stores nearby. I have an old Honda CRV with high miles but reliable and a river nearby to swim. And the library is close by. Life is simple. I am not expecting to buy a house, but maybe with a group of people I can. Im educated and want to create some kind of thing but going much slower and learning to be content with much less. Once you die to the American Dream and realize its just not going to happen it's not so bad. New goal is trying hard to not spend money and be pressured by consumerism. Still difficult not to do splurge. A fight against our materialistic culture.
-
My spouse and I are adding a variety of stocks/ETF to my present holdings for the long term, We've set aside $250k to start following inflation-indexed bonds and stocks of companies with solid cash flows, I believe it is a good time to capitalize on the market for long-term gains, but it wouldn't hurt to know means of actualizing short term profit.
-
Ordinary Americans are suffering but mega corporations appear to be profiting more than ever. Something isn't right here....
-
I made 80k before covid. Had about 1700 left over each month. Today I make 110k. I have about 600$ left each month while living a less luxurious lifestyle
-
There is no American dream anymore. I hear young people saying, there's no point in wanting a house or anything anymore. So sad. Many people don't even make 50k a year. If we all stood up and demanded what we need, instead of fighting for ridiculous causes maybe we could make a difference.