The Daily Money: Is achieving the American Dream still possible?

The American Dream, always elusive, feels out of reach for many. But a younger generation is redefining it for themselves.

Advertisement Read in browser Read in browser The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW Tue Oct 3 2023 Charisse Jones | Economic Opportunity Reporter Happy Tuesday everyone! It's Charisse Jones with your Daily Money headlines. Do you still believe in the American Dream? If you don't, you're hardly alone. It's becoming harder for many young Americans, weighed down by student loan debt, and out-of-sight home prices, to hold onto that dream. And some of their older peers who are needing to work longer to afford their bills may be disillusioned, too. A series of stories and columns by USA TODAY reporters highlights how elusive the so-called American Dream has always been and continues to be. But it also highlights how a younger generation is setting its own rules for what defines financial stability and fulfillment.      "I will be so cheap with certain things, where I'm not even willing to spend an extra dollar," Gloria John, a 21-year-old health screening coordinator in San Antonio, Texas, told USA TODAY reporter Claire Thornton. "But then there's other things that I'm very willing to put money into because I think it's worth it." We'd love to hear your thoughts as well. Where's the will? Wills are going out of style. That's according to an analysis published in August by the  Center for Retirement Research at Boston College that found the number of over-70 households with wills or trusts has been dropping since the 2000s. For the decade between 2008 and 2018, the percentage of those households dipped from 70% to 63%. That can have a meaningful impact on family members who are left behind, lacking direction on how to divide assets. The decline may be due to the growing diversity among America's seniors. They are increasingly Black or Hispanic, and those groups write wills and leave inheritances at a lower rate than their non-Hispanic white peers. The cap of a University of Iowa graduate reads "Cancel student debt" during a commencement ceremony for the College of Liberal Arts and Sciences, Saturday, May 14, 2022, at Carver-Hawkeye Arena in Iowa City, Iowa. 220514 Ui Commencement 020 Jpg Joseph Cress/Iowa City Press-Citizen, Joseph Cress/Iowa City Press-Citizen / USA TODAY NETWORK 🍔 Today's Menu 🍔 If you love tacos, Wednesday may be one of the best days of the year. That's because it's National Taco Day, where you can get your fill of tortillas with all the trimmings at several restaurant chains including El Torito and Moe's Southwest Grill. Or maybe pizza's more your thing. You're in luck there, too, with October declared to be National Pizza Month. Check out the spots where you can get a tasty slice of pie. 📰 More stories you shouldn't miss 📰 Ford lays off workers, blaming UAW strike: The automaker is the latest to cut or furlough staff, attributing the cuts to the union's action. Medicare, SNAP changes, student debt: October may prove to be a pivotal month for many Americans' pocketbooks. Air Fryer recall: About 6,400 Secura air fryers have been recalled because they may catch on fire. A perfume ban? Flight crews on Indian airlines may soon be prohibited from wearing fragrances to prevent false breathalyzer readings as the nation tries to reduce the risk of pilots and attendants flying inebriated. Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government Why did older Americans stop writing wills? Researchers say older Americans are less likely than 10 or 20 years ago to write wills or trusts, potentially derailing the estate planning process READ MORE Advertisement Student debt, SNAP, Medicare, daycare changes in Oct can hit your wallet October brings student debt payments, SNAP raises, lost daycare funding and Medicare options. Any of these can shift your budget. Here's what to know. READ MORE Ford lays off hundreds more workers because of expanded UAW strike Ford Motor Co. says targeted strike against Chicago Assembly by the UAW has led to new layoffs at two sites. READ MORE Three charts explain the student debt crisis in America After three and a half years of the federal student loan payment pause, an estimated 44 million federal student loan borrowers are expected to resume payments. READ MORE 'Treated like animals:' From affordable homes to rental nightmares VineBrook Homes had 269 housing violation cases in the last 5 years so severe the county Health Department stepped in, an investigation found. READ MORE Applebee's Dollaritas return: $1 margarita drinks back for limited time The $1 margaritas are made with tequila, triple sec and lime and will only be available for a limited amount of time. READ MORE Take note before traveling: Paris fights bedbug invasion Paris is fighting a bedbug infestation as the city struggles to tamp down the problem ahead of the 2024 Olympics. READ MORE Wearing perfume to be seen as alcohol consumption by Indian airlines Indian regulators say wearing perfume could produce false positives on breathalyzer tests for flight crews. READ MORE National Taco Day is Oct 4. Here's where to get free tacos. Chains across the U.S. are offering deals ranging from free tacos to discounted margaritas to wash them down. READ MORE National Pizza Month promotions: These deals offer a slice of heaven This October, celebrate National Pizza Month with some pies from Sbarro, Domino's and more READ MORE Advertisement Sign up for the news you want Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. SEE ALL NEWSLETTERS ➔ SEE ALL NEWSLETTERS ➔ Newsletters   |    eNewspaper   |   Crosswords Follow Us Problem viewing email? View in browser Unsubscribe  •  Manage Newsletters  •  Terms of Service  •  Privacy Policy/Your California Privacy Rights  •   Privacy Notice  •  Do Not Sell My Info/Cookie Policy  •  Feedback