Can the Poor Accumulate Assets?

Brief

Can the Poor Accumulate Assets?

Abstract

Can the poor accumulate assets? Longitudinal data from the Panel Study of Income Dynamics and programs targeted at helping families accumulate assets provide empirical evidence that they can. Following families over a 13-year period reveals that, even among those poor more than half the time, over 40 percent increased their net worth. And following low-income, asset-poor families over time revealed that 12 years later 44 percent saved enough to escape asset poverty. This shows that across the life course a substantial proportion of poor and low-income families do manage to accumulate assets.

Cross-Center Initiative

Cross-Center Initiative: 
To reuse content from Urban Institute, visit copyright.com, search for the publications, choose from a list of licenses, and complete the transaction.

LATEST IN Income and Wealth

To reuse content from Urban Institute, visit copyright.com, search for the publications, choose from a list of licenses, and complete the transaction.