The Daily Money: A new generation redefines The American Dream
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 Paste BN 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 Paste BN 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.
🍔 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.
Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government