An Overview of the Connection between Education and Wealth
It’s no surprise that higher levels of education are correlated with higher levels of both wealth and income. But how are they specifically connected? And what are some other possible explanations for this connection?
In this video, William Emmons, Bryan Noeth and Ray Boshara, researchers with the St. Louis Fed’s Center for Household Financial Stability, discuss their research into the effects of education on income and wealth. They present the findings of their paper “The Role of Education,” which is part of their “Demographics of Wealth” series.
Additional blog posts covering specific findings from the paper are also available:
- The Financial Gaps Widen between Those with Advanced Degrees and Everyone Else
- Education, Financial Decisions and Wealth
- Other Sources of the Education/Wealth Correlation
- Center for Household Financial Stability: The Demographics of Wealth: The Role of Education
- On the Economy: The Financial Pressures of the Middle Class
- On the Economy: Five Simple Questions That Reveal Your Financial Health