You’re right: I exaggerated, and should have looked for data. Still though, if 42% of children in the bottom quintile stay there, and only 16% of them end up in the top 40% (6% in the top 20%), that means that starting place has a pretty giant impact on outcomes, wouldn't you say?
Only 6% of the bottom 20% make it to the top 20%, so I’d guess a very small percentage become “self-made millionaires”.
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You’re right: I exaggerated, and should have looked for data. Still though, if 42% of children in the bottom quintile stay there, and only 16% of them end up in the top 40% (6% in the top 20%), that means that starting place has a pretty giant impact on outcomes, wouldn't you say?
Only 6% of the bottom 20% make it to the top 20%, so I’d guess a very small percentage become “self-made millionaires”.
That report you link is great, thanks.