The following version of the book was used to create the guide: Gonzalez, Xochitl. Olga Dies Dreaming. Flatiron Books, 2021.

Xochitl Gonzalez's novel Olga Dies Dreaming is written from the third person point of view and in the past tense. The novel employs an unconventional narrative structure, braiding scenes from the present with epistolary accounts from the past. The following summary adheres to a linear mode of explanation and uses the past and present tenses.

Siblings Olga and Prieto Acevedo grew up in Sunset Park, a neighborhood in South Brooklyn. When they were still young, their mother Blanca abandoned the family. Although they were close with their father and extended family, Blanca's disappearance was difficult for the siblings. Not long later, their father Johnny's drug addiction worsened. Olga grew increasingly independent and Prieto split his time between school and caring for Johnny.

In the narrative present, Olga owns her own wedding-planning business. She feels proud of her success, believing that she has achieved the American dream. Despite her wealth, steady job, and large apartment, Olga is often unhappy. She feels jealous when her cousin Mabel gets engaged, though she is reluctant to admit it.

Meanwhile, Prieto is struggling with his own discontentment. Although he has risen to political prominence in Brooklyn, the career is not what he expected. He believed he could use his power to advocate for New York Puerto Ricans. However, almost immediately after coming into office, he was manipulated by business moguls. He desperately wants to care for his daughter Lourdes and live a happy life, yet feels disappointed in himself.

One night while out at a dive bar, Olga meets a handsome and charming man named Matteo. She is surprised to find herself so taken with him so readily. They talk for several hours and spend the night together. In the morning, Olga feels self-conscious. She likes Matteo but is unpracticed at intimacy. Her last real relationship was 15 years prior. Her most recent sexual affair was with a smug white businessman named Dick Eikenborn.

Although she has been trying to distance herself from Dick, Olga accepts his invitation to attend an important party. When Olga starts helping the waitstaff during the party, Dick feels humiliated. He confronts her afterwards, calling her a maid. Olga is angry and hurt. She calls Prieto to pick her up.

In the car, the siblings get into an argument about who should move into the family house after Mabel moves out. Olga is so frustrated that she blurts out an insensitive comment. Prieto has been a closeted homosexual his whole life, and Olga attacks him for hiding his identity.

A rift forms between the siblings, and Olga feels alone. She begins investing in her relationship with Matteo as a balm. However, not even this form of intimacy can quell Olga's deeper emotional unrest.

When her mother makes a surprising reentrance into her life after Hurricane Maria devastates Puerto Rico, Olga is eager to rekindle their relationship. She thinks that if she agrees to help her mother, they might repair their dynamic. This decision proves to be a mistake.

Lola and Mabel reach out to Olga when she temporarily disappears, locking herself in her apartment for weeks. They help her confront her past trauma and re-embrace life. She and Prieto discuss their complicated maternal dynamic and agree to move towards new futures.