Toward Healthy Balance Sheets: Are Savings Accounts a Gateway to Young Adults' Asset Diversification and Accumulation?

Understanding the balance sheets of today's young adults"”particularly the factors that set them on a path to financial security through asset diversification and accumulation"”lends some insight into the balance sheets they will have when they are older. This study uses panel data from the Census Bureau's 1996 Survey of Income and Program Participation to investigate the acquisition of a savings account as a gateway to asset diversification and accumulation for young adults.


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