The “American Dream” is a Financial Nightmare
According to a recent Yahoo! Finance survey released on Tuesday, Americans between the ages of 18 and 64 still view America as the land of opportunity by a rather small margin to those who feel the American Dream is out of reach, 53% to 41% respectively.
The financial survey also found that 38% plan to live solely off of Social Security and 37% of adults and 41% of women have no retirement savings whatsoever. It also found that most Americans believe that the economy is getting worse: 63% of adults and 72% of those over 55. And few think that President Obama and Congress can fix the finance nightmare: 25%.
The survey also showed that one-third of adults plan to support their kids through college, but half of them admit they have no actual college savings for their children. In the surreal world we live in, many adults with savings have used the savings already for groceries and rent payments: 22%.
The survey showed that nearly all adults are worried about jobs. 90% are worried about current unemployment levels and 62% are worried about their own job security. In addition, 91% are worried about the nightmare economy and their kids' future job prospects.
The original survey results were posted on Yahoo! Finance.