How much money does it take for an "American" lifestyle

[spinbaby]

I've been trying to figure out what it would cost today for a family of four to live the lifestyle that's always represented the American dream--you know, two kids, college for the kids, nice house in the suburbs, two reliable cars, health insurance, annual vacation, retirement savings. 50 years ago, my parents did it with four kids and one income.

[snappyturtle]

1. More than you can ever plan for!!!!! n/t

[tesla78]

2. zZZZzzzZZZZzzzz

You have to be asleep to see the American dream

[Ron Green]

3. In true-cost accounting, more than this earth can support.

[iamahaingttta]

4. It would depend on where you live.

And other factors, like does Mom work or not.
Probably $100,000 to $150,000 a year household income.

[sandnsea]

5. Mine didn't

What did your father do for a living? Maybe someone with the same profession could still do it today.

[spinbaby]

6. Steel

Union. So was everyone else's father.

[sandnsea]

8. Ah, good union

Makes all the difference. Other laborers didn't do so well. No employer health benefits, retirement, etc. Mine did okay, but there was never a savings or college or any of that. It takes two incomes to even get that much for half the country today.

[spinbaby]

11. Health insurance and pension were never a worry

My father died before the pension funds went bust.

In my memory, basics like housing and insurance were always affordable, but STUFF was expensive. A transistor radio was a fairly major purchase back then. Today, people seem to be awash in cheap stuff but can't afford housing and health insurance. And it's not like they could give up the stuff and have money for a house--stuff has just become really cheap. Does that make sense? It's like we're all actually really poor but we don't really know it because we're knee deep in cheap Chinese crap.

[amandabeech]

15. I'm still not excited by all this cheap Chinese crap.

I love the internet, have a cell only because I have elderly relatives with health problems, but the post-'75 stuff just doesn't do much for me, except for CDs 'cause they don't scratch.

I guess that I'm showing my age.

[emilyg]

7. 85++

[AlCzervik]

9. my parents had 4 jobs between them, back in 1974 my mother had $70,000

in medical bills and that was after his VA insurance.

[atlman31]

10. 50 years ago

Your parents didn't need a second income just to help accommodate for the ever increasing tax burden like so many families these days

[Raine]

14. That's right

when I was growing up in the 50's & 60's only my father worked. My mother was a stay at home mom, my parents owned their own home, had 2 cars and sent me and my brother to private school. Now days you could NEVER have all that unless both people work from dawn to dusk. :-(

[Lydia Leftcoast]

17. Ever increasing tax burden!!??

Yeah, I read that Reader's Digest article 25 years ago at my grandma's house, too. :rofl:

[KoKo]

18. That's true but they did with less.....no TV or just one 50 years ago...and no dishwasher,

washer/dryer, one bathroom or maybe another half...one car...no DVD/VCR/Cable/Internet Access/Satellite Radio/eating out more than once a week for combined lunches and dinners/no gas grill/trips to the shopping malls/frozen dinners/veggies...lots of things that we consider necessities didn't exist then...

[taught_me_patience]

12. 250k

To live on the Westside Los Angeles without going into debt.

[spinbaby]

13. Wow

Only about 25 times the minimum wage.

[taught_me_patience]

19. 1mil for an "average" home

makes life very expensive out here. I'm not sure how people do it. :shrug:

[BadgerLaw2010]

21. Crazy mortgages and debt up to their eyeballs.

[KoKo]

16. Did they have two cars and a house with more than one bathroom?

That might be the difference if you are talking about 50 years ago. It's not the kind of lifestyle most would consider the American Dream these days...sadly.

[Lydia Leftcoast]

20. When I was in college, the minimum wage was $1.25/hour

A pair of jeans cost $7.00
A Big Mac was 49 cents, but you could get a full meal in a cheap restaurant for a dollar or less.
If you were a student renting an apartment, $100 per bedroom was considered reasonable.
New cars started at about $1500.
My college tuition, room, and board at a private college was $2700. The University of Minnesota was $125.00 a quarter for just tuition.
A new shirt was $5
Really good shoes were $16
Paperback books were 50 cents, with really thick books, like Gone With the Wind, selling for 95 cents.
When I had to cook for myself during vacation periods, a whole weekend's groceries cost $5.00.
I don't know what health insurance premiums were like, because they were included in my tuition.

Figure out how many times the minimum wage these prices were.


On the other hand, stereos with separate components started at $200, pantyhose were $2.00 a pair, and pocket calculators were $300.

So electronics and synthetic fibers are cheaper in terms of the minimum wage, but necessities are far more expensive.

[CRF450]

22. Dont know really, but for me living by myself...

I have two jobs durring summer, I clean pools and spa's at the Outerbanks NC making around $600 from that. For what it takes, I'm only averaging around 16 hours/week just from that. But for my other job, I weld trailers together like the ones you see carrying commercial lawn mowers and such that landscapers use, I work almost 20 hours/week making $18/hour so thats another $360. When its all said and done after taxes I make just under $900/week.

I have two vehicles and a my own home at 20 years old. My house is 1700sq. feet on 2 acres of land. My monthy payments on it is around $900/month for the $220 grand I'v financed it for. Utilities, digital cable tv, cable internet and cell phone bills, another $300/month. I decided not to get a regular phone as the cell phone works just fine for me. My vehicles are an 01 Dodge Dakota, and an 01 Pontiac Trans Am. Both of them are paid for. The T/A is my main ride when not working, though I would to have another car to the keep the miles off it, GM dont make these cars anymore you know!