In search of the American Dream
Is the American Dream slipping away? Maybe, says Mark R. Rank, PhD, one of the country’s foremost experts on inequality and social justice. “More than at any time in our past,” Rank says, “there are serious questions regarding the American Dream and its applicability to everyday people.” Rank’s new book, “Chasing the American Dream: Understanding What Shapes Our Fortunes” (Oxford University Press 2014) is out.
Americans have the best chance of becoming wealthy if they marry but remain childless, study shows
Photo courtesy of Tom Paule PhotographyMarrying for love … and money.Becoming wealthy and creating a happy family are two key components to achieving the American Dream, but do marriage and children have any impact on your chances of becoming rich? “Marriage substantially increases a person’s likelihood of becoming affluent,” says Mark R. Rank, Ph.D., professor of social work at Washington University in St. Louis and co-author of a study out this month that looks at earnings over the course of a person’s lifetime. “Having children, however, significantly lowers the probability of becoming wealthy for all people,” Rank adds.