For generations, the American Dream was rooted in the promise of economic opportunity—the belief that hard work would lead to financial prosperity, homeownership, and upward mobility. But today, this once-dominant ideal is shifting. While financial stability remains a priority for many, new definitions of success are emerging, with Americans placing increased emphasis on personal achievement, education, and even nontraditional legacies like pet care.
At the same time, nearly one in five Americans (20%) say that none of the traditional aspects of the American Dream resonate with them. Even more striking, nearly 60% of Americans do not prioritize economic opportunity—the belief that hard work leads to financial prosperity—as their primary vision of success. This raises an important question: if economic opportunity is no longer the defining pillar of the American Dream, what is taking its place?
Traditional vs. Modern Views: How the American Dream is Shifting
While economic opportunity remains the most common response (43%), it is far from a universal aspiration. Instead, Americans are increasingly drawn to other measures of success:
33% value personal achievement, emphasizing individual success and self-reliance.
24% believe access to education is central, seeing learning as a path to greater opportunities.
13% cite social mobility, highlighting a focus on breaking structural barriers rather than simply acquiring financial wealth.
11% say political participation is key, reflecting a shift toward civic engagement and influence.
Generationally, this trend is stark:
The Silent Generation (51%) is 65% more likely than Gen Z (31%) to prioritize economic opportunity.
Meanwhile, Gen Z is 200% more likely than the Silent Generation to prioritize social mobility (18% vs. 6%), signaling a shift in expectations from guaranteed financial success to systemic change.
Political participation resonates more with Gen Z (14%) than with Baby Boomers (10%) or the Silent Generation (6%), reinforcing a generational shift toward activism and civic engagement as a key component of success.
These shifts reveal a broader evolution in how Americans define prosperity. Rather than viewing success solely through the lens of financial gain, many, especially younger generations, are prioritizing self-growth, societal impact, and access to knowledge—a reflection of changing cultural and economic landscapes.
The Role of Education in Shaping Perceptions of Success
Education has long been seen as a stepping stone to financial security, and this belief remains strong. But its role in shaping the American Dream is even more pronounced among those who have benefited from higher education.
Those with a doctorate (46%) are nearly twice as likely as the average respondent (24%) to say education is central to success.
Higher-educated individuals are far more likely to resonate with economic opportunity (48%) than those with a high school diploma or less (31%).
Conversely, Americans with less than a high school degree are more than twice as likely as the national average to say "none of these ideals resonate with me" (42% vs. 20%), indicating a sense of disillusionment with traditional success narratives.
While education is widely seen as a pathway to opportunity, those who have faced barriers to accessing it may feel disconnected from these ideals. This underscores the growing divide between those who have access to opportunity and those who feel left behind.
Political, Generational, and Cultural Divides in the American Dream
Political affiliation, race, and gender also shape views on what constitutes success:
Republicans (36%) are 16% more likely than Democrats (31%) to prioritize personal achievement, reinforcing the party’s emphasis on self-reliance and individual success.
Democrats (30%) are 58% more likely than Republicans (19%) to prioritize access to education, highlighting a fundamental ideological divide in views on upward mobility.
White respondents are 29% less likely than non-white respondents (excluding Asians) to resonate with social mobility (12% vs. 17%), suggesting that minority groups place greater importance on breaking systemic barriers.
Asian respondents value social mobility the most (19%), while white respondents prioritize economic opportunity at a higher rate (44%) than non-white respondents (38%).
These disparities reflect deeper structural differences in opportunity, historical wealth distribution, and access to education, shaping how different groups view success and mobility.
A Changing Definition of Success: Beyond Wealth & Homeownership
Perhaps the most striking takeaway is that Americans are increasingly prioritizing legacy in unconventional ways. Younger generations, in particular, are reshaping estate planning by extending it beyond financial assets to include pets, digital identities, and cultural impact.
For many, pets are not just companions—they are part of the family. Nearly 40% of Americans say they have or would appoint a guardian for their pet in their estate plan, while 14% say they have or would set aside cash for their pet’s future care. This shift underscores a growing emphasis on protecting emotional bonds, not just financial assets.
This trend is particularly pronounced among younger generations, with 69% of Gen Z believing pets should be treated with the same level of importance as people in estate planning—compared to just 46% of the Silent Generation. However, this generational divide does not tell the full story. A striking 62% of all respondents—regardless of age—believe pets deserve the same level of estate planning consideration as human loved ones. This signals a widespread cultural shift in how Americans define family and responsibility in their estate plans.
The American Dream, Reimagined.
With nearly 60% of Americans no longer prioritizing economic opportunity as the core of the American Dream, it is clear that success is being redefined. Personal growth, education, and societal impact are taking precedence, and estate planning must evolve to reflect these new priorities.
For estate planning providers, this means:
Recognizing that legacy extends beyond wealth—Americans want to protect what matters most to them, whether that’s values, education, pets, or social impact.
Meeting Americans where they are—with financial mobility feeling increasingly out of reach for many, estate planning must be made accessible to all, regardless of income or education level.
Embracing technology and evolving priorities—as younger generations prioritize digital identities and nontraditional forms of inheritance, estate planning must expand beyond financial assets to accommodate these shifting values.
At its core, the American Dream has always been about securing a better future. But as that future is redefined, estate planning must evolve alongside it—ensuring that all Americans, no matter their vision of success, can leave behind something meaningful.
These insights were unveiled in the groundbreaking 2025 Trust & Will Estate Planning Report—the largest estate planning survey ever conducted. Click here to view the full report.
Trust & Will is an online service providing legal forms and information. We are not a law firm and we do not provide legal advice.
Share this article