The American Dream is Fading Fast: A New Reality for Millennials and Gen Z

For decades, the American dream seemed like a clear-cut path: Get a job, build a family, and work for a few decades before retiring at 65.

Haley Sacks, also known as Mrs. Dow Jones, believes this straightforward route is now a relic of the past. In conversation with Business Insider, Sacks emphasized that millennials and Gen Z have 'inherited a system that is broken.'

'The rules for building wealth were designed for an America that no longer exists, because the American dream is very dead,' Sacks, a financial influencer and CEO of Finance is Cool, explained.

Sacks highlighted the numerous obstacles that handicapped younger generations, including mounting student debt, rising inflation, AI's impact on entry-level jobs, and wages out of step with current living costs.

'Also, what we want from our lives is different. We want time, freedom, and ownership. It's so different from being locked up in this corporate structure,' Sacks said.

The pressure to find alternative sources of income has led to the proliferation of side hustles, as well as online betting.

Online sports betting has experienced a significant surge in popularity in recent years, with the American Gaming Association stating that the US commercial gaming industry generated a record-high $78.72 billion in gross revenue in 2025.

Platforms like DraftKings have gained widespread acceptance, securing partnerships with major professional sports organizations and investing in Super Bowl ad spots.

Prediction markets, in which individuals purchase and sell contracts on future events, have added another path for people to get rich quick or risk financial ruin.

'The system is set up for me to lose. We're on a floating rock. The world is burning. I might as well just try and gamble,' Sacks said.

Despite understanding the mentality behind adopting a 'gamble and hope' approach, Sacks advises against it.

She emphasizes the significance of recognizing the difference between investing and gambling.

'It's such an addictive cycle. Investing is very different than gambling. One is entertainment; the other is wealth building,' Sacks said.