America’s Next Generation Fails to Be Independent

Economically, the state of current affairs for many ordinary Americans in the United States continues to worsen. While the nation has long been seen as the “land of opportunity” for generations and many people have enjoyed massive financial successes in the country, in the present day this is increasingly not the case. The wealth gap between the rich and the poor continues to widen, and the American middle class continues to shrink. It is estimated that about 60% or 6 out of every 10 Americans is living paycheck to paycheck in the present day. What’s worse; for average families earning around the annual household income of about $70,000 annually, the cost of home ownership is simply too high and in 99% of the country home ownership has been deemed impossible for these people. Inflation has made the plight of the struggling middle class much worse over the last several years and it peaked in late 2022. Basic necessities have become so expensive, and ordinary families continue to struggle under this burden.

People are simply not optimistic regarding the future of America and their posterity. In a recent study down by the Wall Street Journal, nearly half of people asked to respond to the study claim that the “American Dream” is dead. Almost 20% believe that is never existed, and only about 36% claim that it is still alive. Truly, the troubling economic realities of the nation continue to become more apparent- especially for younger people attempting to get their lives together.

In a recent Pew analysis, less than half of young adult Americans (Generation Z) are completely financially independent of their parents. In a new study, only about 45% of respondents are financially independent, a startling statistic. This is not surprising, as it appears that in the present due to stagnant wages and increased costs that it is harder than ever for people to “get their start” in independent life.