The effects of early childbearing on a woman's later social and economic status are examined in this paper. Previous research has documented an association of early motherhood with lower educational attainment, marital instability, higher subsequent fertility, and later economic poverty. However, these associations have not been tested in multivariate models of attainment that include important controls for social, economic, and motivational factors. Therefore, it is not clear whether the attainment of young women is inhibited by having a first birth at a young age, or whether the achievements of early childbearers are limited by personal and social characteristics other than age at first birth. The analyses summarized in this paper evaluate the attainment of approximately 5000 contemporary young American females as it is affected by the age when they bare their first child. In addition, the effect of the legitimacy status of the birth is evaluated. Quantified results and analytical discussion focus upon education; family size (fertility); marital stability; and occupational and income status. Additional foci include an examination of the relationship between female headed families, welfare dependency, and poverty. Some means are suggested by which the government, the schools, and other institutions could ameliorate the problems of high teenage fertility. (Author/GC)