Session: Social and Institutional Determination of Asset Building over a Life Course (Society for Social Work and Research 30th Annual Conference Anniversary)

This symposium examines the multifaceted role of social and institutional factors in shaping asset building and wealth accumulation across the life course, highlighting the critical implications for family well-being and individual development. While asset and wealth accumulation are increasingly recognized as vital for economic security and upward mobility, our society faces stark wealth inequalities in their distribution. Achieving financial security through strategies like human capital enhancement, homeownership, and retirement savings is often perceived as a matter of individual agency. However, this symposium argues that these pathways are deeply embedded within and significantly influenced by institutional arrangements. Educational policies and equity dictate opportunities for human capital development and its subsequent income returns, which are further shaped by labor market demands and technological shifts. Similarly, housing equity and retirement savings are heavily reliant on public incentives, policy design features (such as loan and tax credits), and employer-sponsored benefits. Taking a life course perspective, this symposium delves into the institutional potential of various sectors to foster asset building at different life stages. It features four distinct papers that explore the impact of early asset-building policies, educational attainment, non-profit housing service provision, and retirement savings policies on wealth accumulation. By examining these diverse institutional contexts, the symposium aims to illuminate the crucial role of policy and organizational structures in mitigating wealth inequality and promoting more equitable asset-building opportunities throughout individuals' lives.

The first paper on SEED OK reveals the significant positive impacts of universal, automatic Child Development Accounts (CDAs) over 17 years on college assets, parental expectations, college preparation, engagement, hope, and behavior. It underscores the potential of early asset-building policies for long-term well-being and equity.

The second study comparing post-secondary credentials and degrees nationally finds industry-based non-degree credentials can offer similar or greater initial earnings gains than two-year degrees in less time. Bachelor's, Master's, and Doctorate degrees show substantial earnings advantages, challenging a linear income-schooling model and highlighting the need for diverse public investment.

The third paper evaluates Habitat for Humanity's impact using longitudinal credit data, indicating significant gains in credit scores and liquid assets for homeowners, particularly Black families. This demonstrates the potential of non-profit housing interventions to foster financial resilience and economic mobility by providing a path to affordable homeownership and financial education.

The final paper assesses the SECURE 2.0 Act's potential impact on lower-wage workers' retirement savings using survey data. Preliminary findings suggest benefits are more likely for those with existing savings and employer plans, while structural barriers may limit effectiveness for others.