Financial risk tolerance is an important personal characteristic that is widely used by financial professionals to guide the development and presentation of client-centered recommendations. As more baby boomers enter retirement, research on how these individuals perceive their willingness to take financial risks has gained importance, particularly…

The heterogeneity of the timing and order of achieving the "big five" markers of the transition to adulthood is often treated as a taken-for-granted feature of emerging adulthood, reflecting a tendency of "leisure to explore" between adolescence and adulthood. With the central assumption of emphasizing how individuals take…

This article distinguishes three measures of intergenerational economic mobility that emerge when the population is divided into groups: overall individual mobility, within-group mobility, and between-group mobility. We clarify their properties and the relationship between them. We then evaluate Clark's use of surname between-group persistence as…

The children of high-income parents often become high-income adults, while their low-income peers often become low-income adults. Education plays a central role in this intergenerational income persistence. Because education-based inequalities grew in recent decades, many scholars predicted that intergenerational income persistence would increase.…

Existing empirical work looking at the effects of parental income on IQ, schooling, wealth, race, and personality is only able to explain about half of the observed intergenerational income elasticity. This paper provides a possible behavioral explanation for this elasticity in which heterogeneous agents in sequential generations choose their…

The purpose of this study was to identify latent classes of college-educated late-baby-boomer generation women's economic attainment (income) patterns during mid-career and examine the family and job satisfaction characteristics within each latent class. Longitudinal latent class analysis was used to analyze income data from the National…

Educational attainment sits at the core of research on social stratification in the United States. An extensive literature details the inequalities in access to levels of education, the socioeconomic rewards conferred upon those reaching higher levels of schooling, and the prospects for social mobility among those able to attain a college degree.…

As with earlier social disparities in educational achievement, re-enrolment in college education can depend on parental social background. We link this finding with gender differences using data from the US National Longitudinal Study of Youth 79 and ask if the decision to re-enrol in college is influenced by parental social class in a…

Children who experience multiple transitions in family structure may face worse developmental outcomes than children raised in stable, two-parent families, and perhaps even worse than children raised in stable, single-parent families--a point denoted in much prior research. Multiple transitions and negative child outcomes, however, may be…