Abstract
Inequality in the distribution of wealth webs helps reproduce and exacerbate inequities. For example, a child born into a wealthy family is 6.3 times more likely to end up a wealthy adult than a child born into a poor family. Racial inequities are also perpetuated. One study found that twelve percent of the racial wealth gap could be explained by differences in receipt of family financial transfers.
This brief explores these themes in greater depth. It describes the relative infrequency of extended family financial assistance, the inequities in its distribution, and the consequences for household wealth holding. It looks at how families use resources from the web of wealth, why families do not have access to a web of wealth, and what they do in its absence to maintain well-being and leverage opportunity. Finally, the brief proposes policy solutions to ensure that families without a web of wealth are able to access the same opportunities as those situated in well-resourced family networks.