You’re Almost Twice as Likely to Reach the ‘American Dream’ in Canada

What's Hot

2 Types of Black Marks Might Vanish From Your Credit File SoonBorrow

6 Ways the Obamacare Overhaul Might Impact Your WalletInsurance

7 Dumb and Costly Moves Homebuyers MakeBorrow

This Free Software Brings Old Laptops Back to LifeMore

Obamacare Replacement Plan Gets ‘F’ Rating from Consumer ReportsFamily

Beware These 12 Common Money MistakesCredit & Debt

21 Restaurants Offering Free Food Right NowSaving Money

17 Ways to Have More Fun for Less MoneySave

House Hunters: Beware of These 6 Mortgage MistakesBorrow

30 Household Uses for Baby OilSave

25 Ways to Spend Less on FoodMore

Nearly Half of Heart-Related Deaths Linked to These 10 Foods and IngredientsFamily

5 Surprising Benefits of Exercising Outdoors in WinterFamily

10 Ways to Save When You’re Making Minimum WageSave

Boost Your Credit Score Fast With These 7 MovesCredit & Debt

7 Painless Ways to Pay Off Your Mortgage Years EarlierBorrow

The Most Sinful City in the U.S. Is … (Hint: It’s Not Vegas)Family

The True Cost of Bad CreditCredit & Debt

10 Companies With the Best 401(k) PlansGrow

This Scam Now Tops ID Theft as the No. 2 Consumer ComplaintFamily

6 Stores With Awesome Reward ProgramsFamily

6 Ways to Save More at Lowe’s and The Home DepotSave

6 Healthful Treats for Your DogFamily

New Study Ranks the Best States in the U.S.Family

Thousands of Millionaires Moving to 1 Country — and Leaving AnotherGrow

Strapped for College Costs? How to Get the Most From FAFSABorrow

6 Overlooked Ways to Save at Chick-fil-AFamily

Ask Stacy: What’s the Fastest Way to Pay Off My Mortgage?Borrow

Where to Sell Your Stuff for Top DollarAround The House

8 Ways to Get a Good Price on a Shiny New AutoCars

Ask Stacy: How Do I Start Over?Credit & Debt

Secret Cell Plans: Savings Verizon, AT&T, T-Mobile and Sprint Don’t Want You to Know AboutFamily

30 Awesome Things to Do in RetirementCollege

14 Super Smart Ways to Save on TravelSave

The Rich Prefer Modest Cars — Should You Join Them?Cars

You’ll Soon Pay More to Shop at CostcoSave

10 Ways to Save When Your Teen Starts DrivingFamily

New research reveals that attaining the American dream is far more likely if you live in three countries outside the U.S.

If you’re desperately working to achieve the American dream but feel like you’re spinning your wheels, you’re not alone.

Sadly, upward social mobility is little more than a pipe dream for many Americans.

In a new study published by the Federal Reserve Bank of St. Louis, Stanford economist Raj Chetty measures “the probability that a child born to parents in the bottom fifth of the income distribution makes the leap all the way to the top fifth of the income distribution.”

Although the rate varies greatly depending on where you live in the U.S., children here have a 7.5 percent chance of achieving this measure of economic mobility. Raj explains the variances in the Washington, D.C., metro area, which enjoys an overall 11 percent rate of upward mobility.

“In the city of Baltimore, you unfortunately have only a 3.5 percent chance of making that leap from the bottom fifth to the top fifth. That compares with 4.7 percent in D.C. If you go to the some of the more suburban counties, you see much higher rates of upward mobility: Prince George’s County, 9.2 percent, Charles County 14.2 percent.”

According to Chetty’s data, you have a better chance of achieving the “American” dream if you move to one of these countries outside the United States:

  1. Canada: 13.5 percent
  2. Denmark: 11.7 percent
  3. U.K.: 9 percent

“No matter how you cut the American dream or no matter how you describe the American dream, whether it’s life, liberty and the pursuit of happiness or a car, a job and a degree, it’s now become easier in Canada,” Scott Gilmore, a former Canadian diplomat, tells CNN.

If you want to attain the American dream, you may want to look into getting a new, higher-paying job. Check out “Want a Better Job? Start Looking in These 25 Cities.”

You can further boost your finances by taking note of the tips in “20 Clever Ways to Make Extra Money.”

Do you think the American dream is more difficult to attain in the U.S.? Share your thoughts below or on Facebook.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: 8 Cities Where You Can Save or Make Serious Cash With Uber

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 2,041 more deals!