The American dream will cost you $5 million, report finds

How it works: The report calculated the lifetime cost of eight pillars that define the American middle class by reviewing data from the U.S. Bureau of Labor Statistics and private firms.

• Retiring comfortably will cost $1.6 million.
• It'll cost $414,000 to afford quality healthcare, a new measure Investopedia didn't track in 2024.
• Owning a home will cost just under $1 million.
• The cost of raising two children and paying for college is just over $875,000.
• The lifetime price of purchasing new cars is roughly $900,000.
• Going on vacation every year will rack up $180,000.
• Caring for pets will cost $39,000.
• The average cost of a wedding is $38,000.

By the numbers: That adds up to $5,043,323, significantly more than the $2.8 million the average American with a bachelor's degree will rake in over the course of their career.

• The Americans most likely to achieve the dream are a part of a college-educated dual-income household.

Zoom in: Roughly 78% of adults said supporting two kids through childhood and college is part of their dream, and that alone will cost them $876,092.

• Around 86% said access to quality health care, a $414,208 cost over their entire adult life, is key. Health care costs are outpacing most other bills, rising 5% to 6% annually over the past two decades.
• Retiring at 65, as 86% of respondents hope to do, requires more than $1.6 million in savings, adjusting for a 2.5% annual inflation rate over a two-decade retirement.
• Although the median home price is roughly $415,000, the average family can expect to pay almost double that at $957,594 after factoring in a 30-year fixed mortgage interest rate. Despite that, 85% of people surveyed still dream of homeownership.

Yes, but: Having a wedding is the only part of the dream that actually went down from year to year, dropping from $44,000 in 2024 to $38,000 in 2025.

• While getting married has significant financial advantages, the societal norm is becoming increasingly delayed or avoided altogether.

Reality check: The report's findings were based on respondents opinions of what components make up the American dream and are not all-encompassing of everyone's unique view of a successful middle class life.

Methodology: Investopedia's survey took place between Jan. 28–Feb. 6, 2025, and all figures were adjusted to match the Consumer Price Index's June 2025 numbers.

Go deeper: Belief in the American dream hits record low