Dossier
Economic mobility
Coverage of Economic mobility in the Nexus archive.
- ‘The golden years are not golden’: Boomers are hoarding most of America’s wealth and power because they’re terrified of outliving their money
Baby Boomers hold significant wealth and power in America but many are financially unprepared for retirement, facing anxiety over outliving their savings. Structural issues like housing affordability and economic mobility challenges, combined with health risks and market uncertainties, trap many Boomers in unaffordable homes and jobs they cannot quit.
- This factor may determine whether you get rich. You don't control it.
A new study reveals that family wealth is a significant determinant of homeownership, often playing a more crucial role than earning a good salary. The research suggests that securing a well-paying job may be insufficient for purchasing a home without existing family financial resources.