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For generations, America has promised that hard work will lead to financial success. Most of today’s youth unfortunately no longer believe in that promise; six in 10 Americans under age 30 think the American dream is out of reach.

So what’s driving the pessimism, anger and apathy in young Americans? An affordability crisis at every stage of life. Rising costs for housing, daily living and education dictate their choices – where they live, if they get married, whether they have children – and those decisions affect the future of our country.

With Congress and the nation’s capital frozen by polarization and distrust, state and local leaders can step in and restore young people’s confidence by listening to their needs and adopting effective policies to help them achieve the American dream. These four strategies can help.

Elaine Maag and Bruce FullerJuly 10, 2025

Even small financial cushions make it possible to manage economic volatility. Helping young people build wealth encourages them to focus on the future. Early-life wealth building accounts, sometimes called “baby bonds,” can give children a financial foundation.

Trump’s “One Big Beautiful Bill” includes a version of these accounts called “Trump Accounts,” which will give every newborn American a $1,000 tax-advantaged investment account, allowing families to make capped annual deposits. Starting at the age of 18, the account holder may use the money for a down payment, tuition or a small business.

Trump Accounts have limitations, but they can be strengthened by recurring deposits from public, private or philanthropic dollars and by

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