Review: Dream Hoarders: How the American Upper Middle Class Is Leaving Everyone Else in the Dust, Why That Is a Problem, and What to Do about It

Dream Hoarders: How the American Upper Middle Class Is Leaving Everyone Else in the Dust, Why That Is a Problem, and What to Do about It by Richard V. Reeves
My rating: 3 of 5 stars

When I come across a book that purports to tell me that how well-to-do people act, I look to see whether I myself act this way. Reeves defines upper middle class to be those households with income over $120,000 per year. He then goes on to say that those “rich people” do things to ensure their kids continue to be rich people. Things like saving for college. Reading to them when they are young. Working to get them good internships. Ensuring they have good schools and teachers. This is the suburban way, if not the American way, to get your kids ahead. I now realize that I should have spent more time getting my daughters the best possible internship in college. I didn’t realize that was part of the game I was being forced to play by society. I’m also now worried that my daughters chose careers where they thought they could do a good job making the world a better place instead of focusing on getting a wage that kept them lofty in society.

The problem the author exposes is that everybody likes their offspring to be “better”, and no one wants them to be “worse”. In other words, intergenerational progress. But the author is focused on one scale, that of income. The author identifies this issue, and in the end concludes with some policy suggestions that may help to combat it. Interesting. And not very likely. Good read for the description of the issue, to cause thought around the impact this issue has on society, and to identify those areas where you should help your kids, and maybe other kids, more.


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