Is the American Dream Dead? (With Freddie Smith)

The Personal Finance Podcast

Andrew Giancola

Business, Investing, Entrepreneurship

4.7 • 1.4K Ratings

🗓️ 20 May 2026

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

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Summary

Millennials and Gen Z are not broke because of laziness but a broken system. Here is what is actually going on and what you can do about it. 👉 Join Andrew's FREE Masterclass The Portfolio Pyramid: https://event.webinarjam.com/q05p7/register/o37wxuz?webinar_id=22 What You'll Learn in This Episode Why the American Dream playbook is broken and what replaces it Why luxuries got cheaper while necessities got unaffordable Why two EMTs could build a life in 1996 and cannot today The three-tier middle class divide and why your neighbor pays $55K less than you Whether buying a home in 2026 still makes sense and the two questions to ask first What is actually happening with Social Security and what to do about it The one lever that matters most when the system is working against you Start Here Join the community built to help you master your money, stay accountable, and reach financial freedom. 👉 Try Master Money Academy FREE for 7 days today!https://mastermoney.co/join/ 👉 Join Andrew’s FREE Investing for Beginners Masterclass https://event.webinarjam.com/q05p7/register/0o8z9io?webinar_id=21 👉 Join The Master Money Newsletter where you will become smarter with your money in 5 minutes or less per week Here! https://expert-hustler-605.ck.page/6aa7bb9a79 Partner Deals Indeed → Get a $75 sponsored job credit ⁠http://Indeed.com/personalfinance⁠ Policygenius → Free life insurance quote ⁠http://policygenius.com⁠ Chime → Get more rewarding fee-free banking at ⁠https://www.chime.com/PFP⁠ Monarch Money → Up to 60% off | MEMORIAL DAY WAREHOUSE CLEAROUT ⁠http://www.monarch.com/PFP⁠ Shopify → Sign up for your one-dollar-per-month trial today at ⁠http://shopify.com/pfp⁠ Wayfair → Get 80% OFF on April 25th through the 27th ⁠http://wayfair.com⁠ DeleteMe → 20% off with code PFP ⁠https://joindeleteme.com/PFP20/ Tool/s Mentioned Trulia - https://www.trulia.com Zillow - https://www.zillow.com Uber - https://www.uber.com Watch Next How Companies Are Quietly Robbing You! With Lindsay Owens https://youtu.be/WhfXVmC2DC0 12 Financial Rules of Thumb That Let You Spend More on What You Love https://youtu.be/36HG6VHnA08 How to RETIRE BY 30! (With Cody Berman) https://youtu.be/ffKv6M69SRI How to Manage Your Money (and Still Enjoy Life) https://youtu.be/BWocw8B-xnY The Housing Market Is Rigged (Here's How to Beat It) With David Sidoni https://youtu.be/ccXY6vTNJu0 Connect with Freddie Smith TikTok → https://www.tiktok.com/@fmsmith319 Instagram → https://www.instagram.com/fmsmith319/ Linktree → https://linktr.ee/Freddiemsmith Spotify → https://open.spotify.com/show/2MyR1MAPyqDf6OwCrNwR4b YouTube → https://www.youtube.com/playlist?list=PLVcu9rrANHgA6WY_tH1vtpA8V6uX1BI3C Connect with Andrew Instagram → https://instagram.com/mastermoneyco Website → https://mastermoney.co TikTok → https://tiktok.com/@mastermoneyco X → https://x.com/mastermoneyco LinkedIn → https://www.linkedin.com/in/andrew-giancola-45027b340 YouTube → https://www.youtube.com/@mastermoneyco/ Question for you: .Do you think the American Dream is still achievable for your generation, or has the system changed too much? Drop your honest take in the comments below. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I think for the typical worker these days, it's definitely dead. I think it needs to be redefined.
0:05.7	If you look at the boomer generation, they were able to achieve parts of the American dream in their 20s,
0:11.4	where now even the first time home buyer is 40. So it doesn't mean that you can't achieve it. It just seems
0:17.0	to be like a two-decade sacrifice for most people to achieve some of those those pillars.
0:22.7	But why have we created a system that makes an EMT have to go and do that essential job all day
0:29.3	and then drive Uber on the weekends just to pay the bills? And those are 911 operators,
0:34.2	ambulance drivers, school teachers. The people that if they all stopped working,
0:38.4	the world would shut down. They're the ones being left behind that I'm trying to fight for
0:42.2	because they're making 40 to 60K, and they're going to be forced to have to work a second job.
0:47.9	So right now, I think we're going through this phase where we're just losing quality of life.
0:54.4	On this episode of the Personal Finance Podcast, is the American Dream dead?
0:59.9	We're going to ask Freddie Smith.
1:09.8	What's up, everybody, and welcome to the Personal Finance Podcast.
1:14.6	I'm your host, Andrew, founder of MasterMoney.com.
1:17.9	And today on the Personal Finance Podcast, we're going to be talking to Freddie Smith
1:22.1	about is the American Dream dead.
1:24.5	If you guys have any questions, make sure you join the Master Money newsletter by going to mastermoney.com slash newsletter.
1:31.2	And don't forget to follow us on Apple Podcast, Spotify, YouTube, or whatever podcast player, you love listening to this podcast on it.
1:38.1	If you want to help out the show, consider leaving a five-star rating and review on Apple Podcasts, Spotify, or your favorite podcast player?
1:45.5	What if the system was never designed for us to win?
1:48.9	Today's guest is Freddie Smith, and this conversation is going to challenge everything you think about hard work, opportunity, and whether the American dream is still alive.
1:58.5	We are getting into a generational wealth divide and why millennials
	...

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