Lower-education jobs tend to be more volatile in times of recession and economic uncertainty such as the 2008 economic recession and COVID-19 pandemic.

The measure on this page highlight attainment of a post-secondary degree — an Associate’s Degree or higher.

Literature Review Highlights

Higher family assets are associated with both college attendance and college graduation of children within the family, even when controlling for parents’ income.  Along these same lines, assets are associated with parents’ educational expectations of their children. There is a positive relationship between assets and parental education expectations, even when controlling for income. High-asset families had higher expectations for their children. [1]

Higher family liquid assets (stocks and bonds) are associated with higher school-aged children math and reading scores, even when controlling for income.  The authors, “speculate that this maybe partly due to a stronger future orientation or the financial savvy of parents who invest in these kinds of assets.” In this study, higher assets was also associated – albeit weakly – with higher cognitive development of school-aged children. [2]

Families with more assets can make bequests to children, increasing social mobility. [3]

Reviewing the literature, Grinstein-Weiss et al. note the following ways that assets impact children:

1. Provide cushions to families, lessening the impact of hardship or distress;
2. Reduce parental stress, which could manifest itself on children;
3. Help parents invest in children’s educational and occupational opportunities.
4. Change children’s attitudes and expectations of themselves. [4]