I believe the dream of every parent is for their children to better off than they were. It is part of the American dream. Anyone, no matter how humble their beginnings, can become financially secure. The question is how one measures such a goal. One of the ways to do this is through the concept of economic mobility.
Economic mobility is the ability of an individual, family or group to improve (or lower) their economic status — usually measured in income. Economic mobility or what some would consider a person’s “station in life” is often measured by movement between income quintiles.