Money Smart Main Topics
Housing + Employment + Education/Training + Life Skills + Financial Literacy + Asset Development = Economic Mobility
According to PEW Charitable Trusts, economic opportunity and upward mobility have formed the foundation of the American Dream for centuries and remain at the core of our nation’s identity. Yet research shows that the ability to move up the economic ladder from one generation to the next is more limited in the United States than you may think.
PEW Charitable Trusts provides a look at how savings and assets impact mobility, as well as the economic mobility of States. PEW also has a report on Women and Economic Mobility. For more research about economic mobility, please visit the Spotlight on Poverty and Opportunity website.
Research from the Federal Reserve Bank of St. Louis suggests that age, education and race separate the wealthy and poor within an economy.
On Economic Mobility:
- Economic mobility has been tied to the education level of parents (www.federalreserve.gov) and individuals.
- Children’s savings accounts are said to positively affect wealth creation.
- College savings plans (Kansas and Missouri 529 programs) can help to avoid student loan debt.
- Learn about the real college debt crisis
- Education levels can impact potential earnings. Review median salary based on education attainment.
- Education-based employment opportunities are on the rise.