Unpacking the American Dream: A Q&A with Jennifer Tescher

The following Q&A with Jennifer Tescher, CEO of Financial Health Network, was originally published in a July 2025 report published by Ipsos, “What the Future: American Dream.”

The American Dream is evolving, and financial wellness is at its core, asserts Jennifer Tescher, founder and CEO of the Financial Health Network. The 20-year-old organization aims to reshape the financial landscape for people by guiding business leaders and  policymakers toward a common goal to improve financial health for all. She sees Americans’ aspirations shifting toward stability over aspiration, for a more grounded and sustainable vision of success.

Kate MacArthur: How has the pandemic shaped the American Dream for different socioeconomic groups?

Jennifer Tescher: The biggest shift is this focus on stability over prosperity and moving up. Only a third of Americans are financially healthy. And the other two-thirds are either coping or they’re really vulnerable.

MacArthur: How does wealth inequality factor?

Tescher: We’re in the midst of one of the largest generational wealth transfers in history, but the levels of inequality we’re seeing today are off the charts. It’s the largest transfer in dollars, but it’s still the very tippy top of the pyramid. Black and Hispanic families face even starker disparities in the wealth gap. The amount of wealth they hold is pennies on the dollar relative to white households. 

MacArthur: What did you see in our survey results for what people want from financial services?

Tescher: What’s so interesting is that even for people making over $125,000 a year, 45% of them want more help on day-to-day stability. Certainly, people who make less money may have more struggles. But even people who are making well over the median income in this country are looking for help.

MacArthur: Financial institutions promote the Dream in ads. How could they portray more realistic financial goals?

Tescher: It’s really hard to make progress on big goals if you can’t get yourself to a place of stability. When we work with financial services companies, we’re encouraging them to center the financial health outcomes of their customers, not just the handful of life events that you see in gauzy advertisements.

MacArthur: What do you make of financial social influencers?

Tescher: We have a severe deficit of trust worldwide in institutions of all kinds. So it’s not surprising to me that people are willing to turn to strangers who have become social media influencers for advice. It’s unfortunate, because it’s not clear in whose interests those influencers are always acting. While people can learn to be good stewards of their finances, no product, no influencer can give people more money. I’m a big believer in the role of financial services and of financial technology companies. But it’s important to be honest about the fact that there’s only so much those companies and tools can do for people who are really struggling.

MacArthur: How can financial brands have a bigger role in helping people achieve the American Dream?

Tescher: The American Dream is now as much about stability and opportunity as it is about aspiration or getting ahead. Brands have a unique opportunity to help people move toward that dream by expanding access, delivering practical tools and supporting long-term financial confidence. This isn’t just a nice thing to do or the right thing to do for society. It’s a strategic thing to do because companies that take meaningful action will earn trust, strengthen loyalty and they’ll position themselves for lasting relationships and impact.

MacArthur: How do you see the American Dream transforming over the next decade?

Tescher: When I launched the Financial Health Network 20 years ago, it was during the widespread adoption of the internet. In many ways, AI is the next spark in helping people make smarter financial decisions, access personalized career planning and training, and navigating complex systems like healthcare or education. While AI is powerful and can harm, it can also become a stabilizer rather than a disruptor if we are thoughtful about how we develop and use it. That’s going to require companies to deploy AI, not just for efficiency or profit, but with intention. For example, AI-powered financial planning tools could help workers with inconsistent incomes manage their cash flow, reduce debt and save for long-term goals.

Kate MacArthur is managing editor of What the Future.