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Study Hall: The American Dream Now Cost $3.4 Million · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 0:23
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 0:28
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 0:31
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 0:35
  Speaker 1: are here illegally, your next you will be fined nearly
• 0:39
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 0:43
  Speaker 1: never return. But if you register using our CBP home
• 0:46
  Speaker 1: app and leave now, you could be allowed to return legally.
• 0:50
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 0:55
  Speaker 1: border and families will.
• 0:57
  Speaker 2: Be protected sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 3: So let's get into it. First question this year, let's
• 1:02
  Speaker 3: talk about that three point four million dollar number American
• 1:06
  Speaker 3: Dream And yeah, can you give us some more details
• 1:11
  Speaker 3: on that?
• 1:11
  Speaker 4: Sure? Absolutely, So we're always looking at what people are
• 1:15
  Speaker 4: looking for and investipede it. And when we come to
• 1:17
  Speaker 4: the end of the year, we look at the terms
• 1:18
  Speaker 4: that pop the most. What were people searching for the most,
• 1:21
  Speaker 4: either at one distinct period of time or what definition
• 1:25
  Speaker 4: or term had the most consistent search and American dream
• 1:28
  Speaker 4: was our top term of the year. People were looking
• 1:30
  Speaker 4: for that throughout the year. So we got into that
• 1:33
  Speaker 4: a little bit. Why were people looking up the American Dream?
• 1:36
  Speaker 4: And we've the more we looked, the more we understood
• 1:38
  Speaker 4: that it felt like it was out of reach for
• 1:40
  Speaker 4: a lot of people, especially young people, who feel like
• 1:43
  Speaker 4: they're not going to be able to have a good
• 1:44
  Speaker 4: of financial life as their parents. They're not going to
• 1:46
  Speaker 4: be able to do better than their parents. They may
• 1:48
  Speaker 4: not ever be able to buy a home given mortgage rates,
• 1:51
  Speaker 4: given the high price of housing these days. So we
• 1:55
  Speaker 4: got into it a little bit more and we saidhy
• 1:56
  Speaker 4: don't we actually put a number on it? What would
• 1:58
  Speaker 4: it cost to if you wanted to build the so
• 2:02
  Speaker 4: called dream? And to be completely candid, my dream and
• 2:05
  Speaker 4: your dream are very different, and the dream of everybody
• 2:07
  Speaker 4: listening is very different. But a reasonable expectation to build
• 2:11
  Speaker 4: a family, raise a family have a couple of kids,
• 2:14
  Speaker 4: send them to school for a couple of years, have
• 2:17
  Speaker 4: a couple of pets that live fifteen years on average,
• 2:19
  Speaker 4: each own five to six used cars over your lifetime,
• 2:23
  Speaker 4: pay for health insurance, the cost of raising a kid,
• 2:26
  Speaker 4: having a little bit of money three quarters of a
• 2:28
  Speaker 4: million bucks set aside for ten years of retirement. When
• 2:31
  Speaker 4: we total that up, it came to three point four
• 2:33
  Speaker 4: million dollars. Again, your dream and my dream are different,
• 2:36
  Speaker 4: but these are reasonable expectations for raising a family today
• 2:40
  Speaker 4: in this country. And that does include buying a home.
• 2:43
  Speaker 4: Not everybody wants to buy a home, but if you
• 2:45
  Speaker 4: wanted to, And that was kind of what the dream
• 2:47
  Speaker 4: was purported to be, right, being able to do whatever
• 2:50
  Speaker 4: you wanted to do in this country, no matter who
• 2:52
  Speaker 4: you are. That's the purpose of the dream. The American
• 2:55
  Speaker 4: dream was actually coined in nineteen thirty one by an
• 2:59
  Speaker 4: author in a called Epic of America's James Truslow Adams.
• 3:02
  Speaker 4: He wrote about the American dream in the depths of
• 3:05
  Speaker 4: the Depression when he was talking about dream of a
• 3:07
  Speaker 4: dream of a land in which life should be better, richer,
• 3:10
  Speaker 4: and fuller for everyone, with opportunity for each According to
• 3:14
  Speaker 4: ability or achievement. Well, the financial services industry over the
• 3:17
  Speaker 4: last thirty years turned that into owning a home, having
• 3:20
  Speaker 4: retirement assets, being able to afford a college education for
• 3:23
  Speaker 4: your family, being able to afford insurance, healthcare, and all
• 3:26
  Speaker 4: those things. So just taking the reasonable expectations for what
• 3:30
  Speaker 4: that is today, that's three point four million dollars. But
• 3:32
  Speaker 4: the problem, guys is if you take the median income
• 3:35
  Speaker 4: over a lifetime of earning, you get to about two
• 3:37
  Speaker 4: point three million. So there's a million plus dollar gap
• 3:41
  Speaker 4: between what people are actually earning and what it costs
• 3:44
  Speaker 4: to have those reasonable expectations to raise a family today.
• 3:48
  Speaker 3: So what would be being at the average American is
• 3:52
  Speaker 3: going to earn less than three point four million, right,
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  Speaker 3: what would be the suggestion, like, what's the the outcome
• 4:00
  Speaker 3: of this study? So one thing is like, okay, you
• 4:02
  Speaker 3: got and actually asks chat GBT and they said that
• 4:05
  Speaker 3: is what they actually put it a one point seven
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  Speaker 3: million for average person. But so the first thing I
• 4:12
  Speaker 3: would say is, obviously it would pay that to be
• 4:15
  Speaker 3: in a tool income household, because then that one point
• 4:18
  Speaker 3: seven turns to three point two and no one point yeah, right,
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  Speaker 3: three point four three point four So that will put
• 4:27
  Speaker 3: you right there actually if you're married, according to chat GBT.
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  Speaker 3: But for the people that are not in that category
• 4:35
  Speaker 3: and are not on pace to earn that much money
• 4:39
  Speaker 3: in their life span, what's what's the takeaway? What can
• 4:43
  Speaker 3: they do to actually improve their situation to meet that challenge?
• 4:47
  Speaker 4: They should invest? Right, how do you fill the gap?
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  Speaker 4: Where's that one point one million dollars or whatever you're missing?
• 4:53
  Speaker 4: Then it come from it comes from growing your money, right,
• 4:56
  Speaker 4: it comes from investing. That's one way of doing it.
• 4:58
  Speaker 4: Or changing the framework of your dream. Maybe you never
• 5:02
  Speaker 4: wanted to own a home, maybe that's not important to you.
• 5:04
  Speaker 4: Maybe you don't drive, maybe you don't have a kid,
• 5:07
  Speaker 4: or don't want to raise a family. But if you
• 5:09
  Speaker 4: want to have those reasonable expectations for raising a family,
• 5:12
  Speaker 4: today you're going to get to around that number. But
• 5:14
  Speaker 4: you can change the number.
• 5:16
  Speaker 5: This episode is brought to you by P and C Bank.
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• 6:00
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• 7:06
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 7:10
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 7:14
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 7:18
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 7:22
  Speaker 1: some of the heinous migrant criminals caught because of President
• 7:26
  Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States
• 7:30
  Speaker 1: Secretary of Homeland Security. Under President Trump, Attempted illegal border
• 7:35
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 7:38
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 7:42
  Speaker 1: are here illegally, your next you will be fined nearly
• 7:45
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 7:50
  Speaker 1: never return. But if you register using our CBP home
• 7:53
  Speaker 1: app and leave now, you could be allowed to return legally.
• 7:57
  Speaker 1: Do what's right. Leave now under President Trump, America's laws
• 8:02
  Speaker 1: border and families will.
• 8:04
  Speaker 2: Be protected sponsored by the United States Department of Homeland Security.
• 8:07
  Speaker 4: Numberge any which way depending on your lifestyle. But let's
• 8:09
  Speaker 4: just say that as that three point four million and
• 8:11
  Speaker 4: you're far away from it, investing is a way to
• 8:13
  Speaker 4: fill the gap. Making your money work for you while
• 8:16
  Speaker 4: you're working is the way to make sure that you're
• 8:19
  Speaker 4: getting to that number or beyond that number so you
• 8:21
  Speaker 4: can leave live even a little bit more comfortably. That's
• 8:24
  Speaker 4: the point of this program, right, That's the point of
• 8:26
  Speaker 4: what you guys are doing. Helping people build well, helping
• 8:28
  Speaker 4: them find different pathways to build wealth over a lifetime.
• 8:32
  Speaker 4: That's what we believe in, and I think that's the answer.
• 8:35
  Speaker 6: And plus, with the rate of inflation going up so high,
• 8:37
  Speaker 6: it's going to be a mistake in ten or fifteen
• 8:38
  Speaker 6: years if you don't own a home. So I know
• 8:41
  Speaker 6: there's a big agenda for people to not own, but
• 8:44
  Speaker 6: you have to invest in a long term and you
• 8:46
  Speaker 6: definitely have to look towards own the home because if not,
• 8:48
  Speaker 6: I think the prices will probably double in the next
• 8:51
  Speaker 6: ten years.
• 8:52
  Speaker 4: Yeah, on a home or on real estate properties that
• 8:55
  Speaker 4: produce you come for. You have to have ways of
• 8:57
  Speaker 4: producing money for you outside of your norse normal occupation.
• 9:01
  Speaker 4: There's two ways to look at it. Right, When you work,
• 9:03
  Speaker 4: that's your labor. Those are your labor dollars that sustain you.
• 9:06
  Speaker 4: But to put your money to work while you're working,
• 9:09
  Speaker 4: get those two things going at the same time. That's
• 9:11
  Speaker 4: how you generate wealth over the long term. And that's
• 9:13
  Speaker 4: how you build generational wealth. But a lot of people
• 9:16
  Speaker 4: just don't learn that, which is why I'm so impressible
• 9:18
  Speaker 4: that you guys are doing. You've been teaching people how
• 9:19
  Speaker 4: to do this for a long time. That's the point, right,
• 9:22
  Speaker 4: You have to build your wealth and have your money
• 9:24
  Speaker 4: work for you.
• 9:25
  Speaker 5: So in order to get to this three point foward,
• 9:28
  Speaker 5: there's obviously things you said, like investing, But I wonder
• 9:31
  Speaker 5: when you look at the search the results from your search,
• 9:34
  Speaker 5: is did anything stand out to you?
• 9:36
  Speaker 2: Right?
• 9:36
  Speaker 5: Because I'm looking at your top ten. Number ten was racketeering,
• 9:39
  Speaker 5: which is pretty interesting. Number nine assumable mortgages. Number eight bricks,
• 9:45
  Speaker 5: which we've spoken about. Number seven, Treasury Bill, number six,
• 9:49
  Speaker 5: debt ceiling five, inverted yield curve before certificate of deposit.
• 9:57
  Speaker 5: Number three, artificial intelligence, which I probably thought would be
• 10:00
  Speaker 5: number one, number two bank failures, and like you said,
• 10:03
  Speaker 5: the American dream. So as we're searching for these things,
• 10:06
  Speaker 5: what's staring out to you guys as a company saying
• 10:10
  Speaker 5: all right, well, we got to feed more information. We
• 10:11
  Speaker 5: got to figure out why people are looking at these things.
• 10:14
  Speaker 5: What was glaring to you as you got those results
• 10:16
  Speaker 5: coming back.
• 10:16
  Speaker 4: Yeah, Artificial intelligence was actually our reader's pick for term
• 10:19
  Speaker 4: of the year, and it makes a lot of sense.
• 10:20
  Speaker 4: Not only was it a huge investing theme. Note Navidia,
• 10:24
  Speaker 4: note a lot of the AI related stocks that had
• 10:26
  Speaker 4: enormous outperformance this year, but AI touched every single industry
• 10:31
  Speaker 4: that we pretty much encounter, right. It was behind the
• 10:33
  Speaker 4: writer and the writer and actor strike in Hollywood. It
• 10:37
  Speaker 4: was behind a lot of what's going on in the
• 10:38
  Speaker 4: auto industry in terms of what that's going to turn
• 10:40
  Speaker 4: into over the next few years. You just mentioned chat
• 10:43
  Speaker 4: GPT when you asked it how much it would cost
• 10:46
  Speaker 4: to you know, how much a dual family would earn
• 10:48
  Speaker 4: over a lifetime. So it's involved in everything that we're
• 10:52
  Speaker 4: involved with today, and I think it's going to be
• 10:53
  Speaker 4: a dominant theme going forward. So we have to do
• 10:55
  Speaker 4: a lot more content around that, not just as an
• 10:58
  Speaker 4: investing theme, but what does it mean for industries? What
• 11:00
  Speaker 4: does it mean for the future of productivity in this
• 11:03
  Speaker 4: country and around the world. But when you look at
• 11:05
  Speaker 4: other things like bank failures, well those pop because we
• 11:09
  Speaker 4: were having bank failures in the spring. Banks were supposed
• 11:11
  Speaker 4: to be boring, but there were anything but boring earlier
• 11:14
  Speaker 4: on this year when they were failing and the Treasury
• 11:16
  Speaker 4: and FDIC were seizing them but also taking extraordinary measures
• 11:20
  Speaker 4: to bail out customers of banks. Right the FDIC only
• 11:24
  Speaker 4: guarantees and we did a show on this with you
• 11:26
  Speaker 4: guys when this was happening back in the last spring.
• 11:28
  Speaker 4: I'm only supposed to cover you for two undred and
• 11:30
  Speaker 4: fifty thousand, Well the Treasury Department said we're going to
• 11:32
  Speaker 4: cover you way beyond that, so that was really interesting.
• 11:35
  Speaker 4: We've been in an inverted yield curve in one form
• 11:37
  Speaker 4: or another all year, and that usually precedes a recession.
• 11:41
  Speaker 4: We've been kind of waiting for a recession now for
• 11:43
  Speaker 4: about fifteen sixteen months, not saying we won't have one,
• 11:46
  Speaker 4: but the fact that the dynamics have changed. Right, if
• 11:50
  Speaker 4: we had an inverted yeal curb five ten years ago,
• 11:52
  Speaker 4: we would have had a recession like the next minute.
• 11:54
  Speaker 4: But things are really different these days, so we had
• 11:56
  Speaker 4: to get in more of that. And also the assumable mortgage.
• 11:59
  Speaker 4: That really it out to us. Why because this is
• 12:02
  Speaker 4: a way if I want to buy your house in
• 12:04
  Speaker 4: you just transfer your mortgage to me instead of me
• 12:06
  Speaker 4: going out and getting an eight percent mortgage. It's a
• 12:09
  Speaker 4: unique way of doing transferring a mortgage and actually selling
• 12:12
  Speaker 4: a house to another person. This was popping for us
• 12:15
  Speaker 4: because people were looking for ways to actually own a home,
• 12:18
  Speaker 4: be able to buy a home for the first time.
• 12:20
  Speaker 4: So that's why this term was popping.
• 12:22
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 12:25
  Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
• 12:29
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 12:34
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 12:38
  Speaker 1: some of the heinous migrant criminals caught because of President
• 12:41
  Speaker 1: Donald J. Trump's leadership. I'm Christine Noman, the United States
• 12:45
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 12:50
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 12:53
  Speaker 1: one hundred thousand illegal aliens.
• 12:55
  Speaker 2: Have been arrested.
• 12:56
  Speaker 1: If you were here illegally, your next you will be
• 13:00
  Speaker 1: fine nearly one thousand dollars a day, imprisoned and deported,
• 13:04
  Speaker 1: you will never return. But if you register using our
• 13:08
  Speaker 1: CBP home app and leave now, you could be allowed
• 13:11
  Speaker 1: to return legally. Do what's right. Leave now. Under President
• 13:15
  Speaker 1: Trump America's laws, border and families will be protected.
• 13:20
  Speaker 2: Sponsored by the United States Department of Homeland Security,