Your Environment Prevails


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In short, the researchers found that environment prevails. For children who were raised by their biological parents, the correlation between parents’ wealth and a child’s eventual wealth was strong—calculated to be 0.33. (A correlation of 0 would mean parents’ wealth has no bearing on children’s wealth, and a correlation of 1 would mean they are identical.) For children who were adopted, the correlations were much different: Between adopted children and their birth parents, it was weaker (only about 0.13), while between children and their adoptive parents, it was in the middle (about 0.23). These numbers suggest that children who are raised wealthy owe their future financial success more to the household they grew up in than any inherent ability they possess. [Bold added]

—Joe Pinsker, “Rich People Raise Rich Kids

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