“The faith that anyone could
move from rags to riches
was once at the core of
the American Dream.”
Robert Reich

Since the founding of our country, the definition of the American Dream has been constantly evolving. The term means different things to different people. The American Dream in 2025 seems to be considerably different from my understanding of it in 1975.

It used to be that if you worked hard and followed the rules, you could attain the American Dream. Evidence of having reached this point was a job, home ownership, and a family. This is no longer the case. For younger Americans in 2025, the American Dream is not defined the same way.

Home ownership, which was once the cornerstone of the American Dream, is no longer attainable for many young people. Working for one company for 40 years and retiring with a pension and health benefits for life is, for most, a thing of the past. In 1940, 92% of young people could expect to be more financially secure than their parents were. Today, that number is closer to 50%.

The American Dream in 2025?

According to a recent survey conducted by Howdy.com, a high tech recruitment company, 76% of Gen-Z and millennials believe that the American Dream is the opportunity to work from home. In that same survey, apparently due to changes in the economic and political structures of our country today, 77% indicated that they believe life would be better outside the U.S. I have to admit, this surprises me.

Job portability, the freedom to work from home, or some other place of choice, was not an option for Baby Boomers. During the pandemic, however, and due to the many innovations in technology over the past forty years, workers have proven that working productively outside the traditional office environment is possible for many professionals. This alternative work environment offers workers the opportunity to live anywhere they want.

Investopedia, a financial education website founded in 1999, is known for its comprehensive financial dictionary. They developed their own definition of the American Dream: “The belief that anyone, regardless of where they were born or what class they were born into, can attain their own version of success in a society in which upward mobility is possible for everyone.” I think the key phrase here is “their own version of success.” This can vary from person to person.

Bridgeworks, an organization based in Minnesota, has been helping organizations navigate the complexities of a multi-generational workforce for almost 30 years. They identify the images, mantras, and icons of the various generations. For those born before 1945, for example, the image was the self-made man. The mantra was “Pull yourself up by the bootstraps.” Icons included Walt Disney and Henry Ford.

For Baby Boomers, those born between 1946 and 1964, the image was the single-family home with a white picket fence. The mantra was “Keepin’ up with the Joneses.” Icons for Boomers included the Kennedys and the Cleavers (from the popular TV sitcom Leave It to Beaver.) 

Gen-Xers, born between 1965 and 1979, embraced the image of the corner office. The common mantra was “Success is the best revenge.” And a popular icon for this generation was Michael Jackson.

Those born between 1980 and 1995 are referred to as Millennials. For them, it’s all about living for the journey, rather than simply the destination. Their mantra was “You can do anything you put your mind to.” The well-known icon for this generation is Mark Zuckerberg.

Finally, there are those born after 1995. Some refer to them as Gen-Edge. These younger Americans cling to the image of having and being enough. Their mantra is “Success isn’t given, it’s earned.” One impressive icon to whom this generation relates is Malala Yousafzai.

The American Dream is not dead. It simply continues to evolve. In 2025, the American Dream is more of a mindset than an accumulation of wealth and possessions. As Viktor Frankl wrote in his book Man’s Search for Meaning, the last of the human freedoms is to choose one’s attitude in any given set of circumstances.