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Friday Flight - Deadly Debt, Housing Crash Hopes, & The Expensive American Dream #762
Dec 15, 2023
Topics discussed in this podcast include a historic baseball contract with deferred payments, the impact of credit card debt on wealth-building, noncompete agreements' negative impact on the housing market, stock market predictions, the cost of the American dream, and the benefits of starting a small business and self-employment.
34:03
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Quick takeaways
- Starting a side hustle or slowly ramping up a business can be a cost-effective way to work towards being self-employed and fulfilling the American dream.
- Focusing on disciplined saving, investing, and taking a long-term approach to wealth-building can lead to more consistent and reliable outcomes compared to relying on stock market predictions.
Deep dives
The Cost of the American Dream
According to Investopedia, the American dream now costs an estimated $3.4 million over a lifetime. However, it's important to note that some of the items included in this calculation can be adjusted to fit individual preferences and priorities. People can redefine what the American dream means to them and focus on achieving their unique goals.
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