Advertiser Disclosure

Wells Fargo: Nearly 40% of Americans Have Secret Financial Dreams (Plus 4 Ways To Get Closer To Achieving Them)

April 25, 2025

5 min Read

Written by Angela Mae

Edited by Levi Leidy

Eva-Katalin / iStock.com

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

20 Years
Helping You Live Richer

Reviewed
by Experts

Trusted by
Millions of Readers

Do you dream of one day buying a vacation home in Italy? Or perhaps retiring when you’re 45 (rather than waiting until you’re old enough to collect Social Security)? Have you kept these dreams to yourself out of fear that they won’t come true or you’ll be ridiculed for them?

If so, you’re not alone.

Wells Fargo’s 2025 Money Study found that almost 4 in 10 Americans (39%) have secret financial dreams. Of those people who have a secret dream, 43% said the reason they don’t share that dream with others is because they think it’s not achievable.

If your financial dreams feel impossible, know that there are ways to make them more achievable. Here are just a few.

Make Choices That Align With Your Values

According to Wells Fargo, 94% of people said they want to start making choices that align with their values. But how do you go about that?

In an article on his website, personal finance expert Ramit Sethi suggests figuring out your “money dials.” These are the things that get you excited about spending money — the things that truly bring you value and joy. For example:

Travel
Convenience
Experiences
Health/fitness
Freedom
Generosity
Relationships
Luxury
Self-improvement
Social status

Say you had $25,000 you could spend right now on any one of these categories. Which would get you the most excited? Whichever one you pick is likely related to your secret financial dream — and the one that you should prioritize (assuming all other financial obligations are covered).

Today's Top Offers

Be More Intentional With Spending

The Wells Fargo survey found that 86% of people want to be more intentional with their spending. This is key if you want to achieve a major (secret) financial dream.

Say you want to buy a $1 million house. That might not seem achievable when you factor in everyday bills, mortgage interest rates and the like.

To make it more feasible, create a conscious spending plan. This plan is essentially a budget, but its goal is to prioritize the things that matter to you and automate everything else. Here’s a breakdown:

Set aside 50% to 60% (ideally) for fixed costs
Invest 10% of your take-home pay in a 401(k), Roth IRA or another retirement account
Save 5% to 10% of your income for short-term goals and emergencies
Set aside 20% to 35% of your take-home pay for guilt-free spending (so you can enjoy your life today)

If your goal is to buy that house, the “guilt-free” spending category could easily transform into another savings category — but this time for your dream home. Try putting your savings in a high-yield savings account or certificate of deposit (if you don’t need the money right away). You’ll typically get the best rates that way.

Talk To Someone You Trust

Many people keep their financial dreams a secret even from their closest friends and family. But if you want to achieve yours, one method is to breach the topic with someone you trust not to judge you for those dreams. You’d be surprised at how quickly open communication can cut through the shame or uncertainty and help you along the path to success.

Today's Top Offers

“Money secrets can sabotage everything from retirement planning to credit scores. But beyond the dollars and cents, it creates emotional distance and resentment,” said Melissa Murphy Pavone, CFP®, CDFA®, founder at Mindful Divorce Partners. “When couples can’t openly talk about money, they can’t plan for the future together — and that leads to a breakdown in collaboration, shared goals and ultimately trust.”

But when you can talk about your dreams, you can start finding ways to work on achieving them — together.

Get Personalized Advice

According to the Wells Fargo survey, most people (86%) are tired of hearing common advice like:

Eat at home to save money
Cut back on the cafe
Get a side hustle to earn more

It’s not that this advice is necessarily bad. It simply doesn’t work for everyone. To help make your financial dreams a reality, consider speaking with a financial advisor. This route isn’t for everyone, but it could help you get closer to what you truly want.

More From GOBankingRates

Sources