In many places, the American Dream is no longer attainable with a $100,000 income.

The cost of achieving the American Dream, which includes owning a home, getting married, having children, and saving for retirement and leisure, is rapidly rising.

"According to Sabrina Romanoff, a clinical psychologist, the benchmark for a six-figure salary used to be the standard for a comfortable income. It represented the point at which individuals could afford to save and spend based on their desires, rather than just their necessities."

According to a 2023 CNBC Your Money survey conducted by SurveyMonkey, more than half (52%) of Americans say they would need at least $100,000 a year to feel financially comfortable, with 26% saying they would need a salary in the range of $100,000 to $149,000 per year.

Unfortunately, for the last 50 years or so, wages haven't kept up with the cost of living, according to Elise Gould, senior economist at Economic Policy Institute.

Gould stated that many families find it increasingly difficult to achieve the middle-class lifestyle and the American Dream.

The widely used 50-30-20 budget rule advises consumers to allocate 50% of their income towards necessities, 30% for non-essential spending, and the remaining 20% for saving.

GOBankingRates analyzed the cost of owning a home, car, and pet for a family of four adults and two children in each state by estimating their annual essential expenses and then doubling the figure.

According to a report, all 50 states require an annual income of more than $100,000, with 38 states needing more than $140,000.

Economists suggest that debt growth has replaced income growth as a means of financial growth. The total student loan debt in the first quarter of 2023 reached $1.77 trillion, while Americans owed $1.13 trillion on their credit cards in the fourth quarter of 2023. This debt can have a significant impact, particularly when entire generations begin their adulthoods with thousands of dollars in debt.

"Romanoff stated that people earning more than six figures are still struggling to make ends meet, which is causing stress and undermining the symbol of financial freedom."

To achieve the American Dream, families in the U.S. need to make a certain amount of money.