Inflation hits The American Dream: It now costs a staggering $3.4 million to get married, buy a home, raise children, cover healthcare and retire (plus there’s $8k for a funeral!)

The so-called ‘American Dream’ is the benchmark that many people hope to achieve in their lifetime – getting married, buying a home and a car and raising children.

But new analysis has found that achieving these milestones now costs a staggering $3,455,305 – much more than most Americans will make in their lifetime.

One of the biggest amounts is for paying off a mortgage on a property. The average homebuyer will fork out $796,998, according to Investopedia – assuming a 10 percent down payment and a 30-year fixed loan at 7.2 percent interest.

Caleb Silver, editor in chief of Investopedia, told DailyMail.com: ‘While everyone’s idea of the so-called “American Dream” is unique, the rising cost of everything a family might reasonably want and need to afford, like health insurance, owning a vehicle, buying a home, raising children and sending them to college, continues to put that dream further out of reach for most households.’

This is the first year Investopedia has done the research, but the estimated cost of the ‘American Dream’ is thought to be the highest of all time due to rampaging inflation.

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