Three out of four adults aspire to the American dream, but nearly half believe it’s out of reach for them as living costs rise, a poll has found.  Inflation is hurting all Americans.

     Clarify Capital reported this week that more than 6 in 10 people responding to a national survey predicted living debt-free and owning a home will become unrealizable for the average person in the next five years.  Nearly half told the New York City-based financial services firm that retirement would also become impossible. More than a third added a college degree and “having only one job” to the list of unthinkable life goals.  

     “Contrary to media and White House reports about the economy, most respondents replied that people are financially strained by rising inflation, increased housing costs and stagnant wages,” said Michael Baynes, CEO of Clarify Capital. The survey defined “the traditional American dream” as homeownership, financial stability and “a comfortable life.”  Clarify said 70% of participants blamed inflation for blocking their “dream lives.” Smaller numbers also cited scarce affordable housing, good jobs, health care and politics as factors.  Survey respondents of all ages generally agreed on the importance of work-life balance, the opportunity to work remotely and the growth of artificial intelligence and cybersecurity jobs.  

     Respondents estimated they would need an average salary of $110,000 yearly and $150,000 in savings to live “a comfortable life.”  Researchers uncovered some demographic differences as older and low-income participants proved likelier than others to express despair.