The very long arm of wealth: Effects of intergenerational wealth resources on health in the U.S. over the last three decades

Health inequalities result from multidimensional socioeconomic inequalities (income, education, wealth, etc.). Given the specific size and greater stability through time of wealth than income, wealth might affect health beyond other socioeconomic indicators. An important question is how far the reach of wealth is on one’s health: Does wealth promote health even over generations? Using the Panel Study of Income Dynamics (PSID), we consider the effects of intergenerational and intragenerational wealth on age-adjusted self-assessed health (ASAH) across the life course. We find that both parental and personal household wealth strongly affect ASAH net of other socioeconomic measures. Just as social disadvantages have been shown to be inherited between generations, so too are wealth-induced health advantages. Furthermore, the inter- and intra- generational wealth effects on health increase over the life course. This study thus encourages social scientists to pay greater attention to wealth inequalities, despite difficulties in their accurate measurement.