Financial education is the quiet infrastructure of upward economic mobility. While increases in income, access to affordable housing, workforce development, and asset-building opportunities are all critical drivers of economic success, their long-term impact depends on whether individuals have the confidence, knowledge, and skills to navigate an increasingly complex financial system. Financial education provides the foundation that allows those other investments to succeed. It equips individuals to make informed decisions, build healthy financial habits, protect and grow assets, and adapt to changing economic circumstances. Without that foundation, gains in income or wealth are often temporary. With it, investments in economic mobility are more likely to produce lasting, generational impact.
At its core, upward economic mobility is about increasing financial assets and savings while reducing debt and financial vulnerability. Financial resources alone do not guarantee lasting progress, as demonstrated by the approximately 70% of lottery winners who experience financial hardship or bankruptcy within a decade.¹ While a higher income can improve day-to-day financial stability, wealth provides the long-term security and opportunity that allow individuals and families to thrive. Economic mobility is about building wealth.
Everyone deserves the opportunity to build wealth, regardless of where they begin.
Wealth creates a financial cushion that helps families navigate unexpected challenges without losing the progress they’ve made. It makes it possible to invest in opportunities like education, homeownership, entrepreneurship, retirement, and other assets that strengthen financial well-being over time.
The impact of wealth extends far beyond a single generation. It can be passed on to children and grandchildren, creating greater opportunity and helping break cycles of financial instability. Wealth also reduces financial stress, improves overall well-being, and gives people greater freedom to make choices about their futures. Through homeownership, business ownership, and other forms of asset ownership, wealth also strengthens communities by increasing stability, investment, and civic engagement.²
When more families have the opportunity to build wealth, the benefits ripple outward. Communities become more resilient, local economies grow stronger, and investments in education, workforce development, affordable housing, and financial capability create deeper, longer-lasting impact.²
If sustainable wealth building is the goal, the next question is: What does it take to achieve it? At Prosperity Connection, we believe the answer should be guided by evidence. As a data-driven organization committed to delivering best-in-class financial education and coaching, we look to leading research to inform our work and ensure our programs reflect proven strategies for lasting economic mobility.
One of the most influential voices in this field is the Aspen Institute’s Financial Security Program (Aspen FSP). Aspen FSP brings together research, policy, and practice to better understand the financial challenges facing American households and identify solutions that expand financial security and economic opportunity. Their work aligns closely with our commitment to reducing wealth inequality and helping more individuals and families build lasting prosperity.
In December 2021, Aspen FSP published Foundations of a New Wealth Agenda: A Research Primer on Wealth-Building for All. The report identifies five conditions—and one foundational precondition—that create the environment for sustainable wealth building. Together, these conditions provide a research-based framework for understanding how individuals, communities, organizations, and institutions can work together to expand opportunities for lasting economic mobility.
The Aspen Institute notes that achieving these conditions requires coordinated action from nonprofits, financial institutions, employers, policymakers, and community organizations. No single strategy can eliminate wealth disparities on its own, but together these efforts create an ecosystem where more individuals and families can build lasting financial security.
Research provides the framework for understanding sustainable wealth building. Our clients demonstrate what that framework looks like in practice. Wayne’s journey illustrates how financial education, coaching, and perseverance can transform financial challenges into lasting financial security.
Wayne came to Prosperity Connection during a particularly difficult chapter in his life, navigating a divorce while caring for his elderly father. His goal was to improve his credit and prepare to purchase a home.
Working closely with his coach, Wayne addressed significant financial obstacles, including an unfavorable debt settlement agreement that was limiting his ability to save. With guidance and persistence, he successfully negotiated major settlements on outstanding debts, dramatically reducing what he owed and creating space to move forward.
Through consistent budgeting and disciplined saving, Wayne began steadily improving his financial position. After selling his house, he was able to eliminate all remaining debt and build more than $80,000 in savings. The stability he created allowed him to focus on caring for his father during his final days without the added burden of financial stress.
Today, Wayne is entering a new chapter with confidence, having purchased a reliable car and his forever home. His story is a reminder that sustainable wealth grows through informed decisions, consistent action, and the confidence to keep moving forward.
Wayne’s success illustrates how the conditions for sustainable wealth building work together. Through financial education and coaching, he strengthened his financial stability, increased his savings, resolved burdensome debt, built the confidence to navigate complex financial decisions, and ultimately achieved his goal of homeownership.
Financial education is a necessary investment for anyone seeking lasting economic mobility.
Sustainable wealth grows from a strong financial foundation, informed decisions, and opportunities that can be sustained over time. Through best-in-class financial education and coaching, Prosperity Connection, equips individuals and families with the confidence, knowledge, and skills to turn financial stability into lasting economic mobility. When people have the tools to build and protect wealth, the benefits extend beyond individual households to create stronger communities, healthier local economies, and a more prosperous future for all. By investing in people, we’re helping create lasting economic mobility that strengthens families, communities, and future generations.
Akeem Smith (He/Him)
Mindy Pluma (She/Her)
Otis McClure (He/Him)
Genise Lay (She/Her)
Jeff Lash (He/Him)
Regina Fowler (She/Her)
Aaron Tucker Jr. (He/Him)
Nikol Theberge (She/Her)
Anniece Robinson 
Elizabeth ‘Liz’ Myers (She/Her)
Joyce Kampwerth (She/Her)
Allison Cook (She/Her)
YaNan Bledsoe (She/Her)
