American Dream generations diverge on success, money and hope

American Dream generations are defining success in sharply different ways as costs, work and social expectations shift across age groups. CNBC Make It reported that 51% of U.S. adults said the American Dream is out of reach for most people today, underscoring the economic pressure behind a broader debate over opportunity, happiness and financial stability.

The reporting is part of CNBC Make It’s “The Next Dream” series, which examines how Americans think about success 250 years after the country’s founding. CNBC Make It spoke with six people across four generations, including figures in finance, politics, media and relationships, to compare how age, family history and current economic conditions shape expectations.

The American Dream has no single definition in the accounts CNBC Make It gathered. For some, it still includes financial security, family and meaningful work. For others, especially younger Americans facing high housing costs, inflation and a more uncertain entry-level job market, the idea has become harder to accept on inherited terms.

How do different generations define the American Dream?

Vivian Tu, 32, a former Wall Street trader who built the financial education brand Your Rich BFF, told CNBC Make It that her early ambitions were tied to visible achievement and proving herself to doubters. She now frames success around work she finds meaningful and honoring the investment her parents made in her future.

Gail Rudnick, 84, described a later-life version of ambition. After raising a close family, she told CNBC Make It she is pursuing what she views as a second chapter by working as a content creator and podcast co-host with her granddaughter, Kim Murstein, 30.

Sylvia Kwan, 62, chief executive of Ellevest, told CNBC Make It that her version of the dream has involved revising expectations for her own life and pursuing goals she had not once thought possible. Ellevest is a women-focused financial planning and wealth management platform.

Those accounts sit alongside a more cautious assessment from younger Americans. CNBC Make It reported that Gen Z, defined in its article as people currently ages 14 to 29, has dealt with disrupted education and social development during the Covid-19 pandemic, followed by a volatile labor market, elevated housing costs and inflation pressures for those leaving school.

Kahlil Greene, 26, a history newsletter writer and social media creator who became Yale’s first Black student body president in 2019, told CNBC Make It he does not feel hopeful about the country’s future. He said he worries the United States is on a “downward trajectory” and sees “insurmountable odds” in fixing national problems, while adding that he would like to try.

Why are younger Americans questioning the American Dream?

The pressure points cited by CNBC Make It are material as well as cultural. High housing costs can delay or alter plans for ownership, inflation can weaken purchasing power, and a difficult early-career market can make the link between education and upward mobility feel less reliable. In that context, the American Dream refers to the belief that people can build a secure and fulfilling life through opportunity, effort and choice.

Robert Reich, 80, a University of California, Berkeley professor and former U.S. labor secretary, offered CNBC Make It a more optimistic view in conversation with Greene. Reich said he is “optimistic because of our resilience” and pointed to the country’s ability to recover from depressions and wars.

Reich also warned against cynicism, telling CNBC Make It that hope matters because without it people stop trying to improve the country. His view frames the American Dream less as a fixed economic benchmark than as a continuing civic and personal project, even as younger generations question whether the bargain still works for them.

This story draws on original reporting from CNBC.