Marriage behavior, fertility behavior, the timing of life events, and context all are, of course, important predictors of adult wealth. These factors have received perhaps the most attention from researchers in the past both because they are the most direct predictors of wealth ownership and also because they are among the more easily measured traits of individuals and families. As previous chapters have shown, other background traits and individual behaviors are also important predictors, but it would be a mistake to underestimate the importance of adult factors. In this chapter, I explore the portions of the conceptual model (Figure 4.1) that include adult traits such as marriage, divorce, fertility, and the timing of life events. I also discuss the role that portfolio behavior plays in wealth ownership. That is, I ask how different investment strategies shape wealth ownership and mobility. Near the end of the chapter, I also briefly address the importance of context, including such factors as stock market booms and busts, generational effects, and the importance of geography.

Figure 8.1 emphasizes the segment of the full conceptual model that is the focus of this chapter. Again, I need to note that my objective is to demonstrate the functioning of the conceptual model and to highlight as many of the important factors that contribute to wealth ownership as possible. In this chapter, I explore several adult behaviors and processes that are critical components of the wealth accumulation and mobility picture.