A 26-year study tracking nearly 300,000 Norwegians reveals that 95% of people who climbed income rankings did so through wage increases alone or combined with investment gains. Only 5% rose through investments exclusively. Researchers following individuals born between 1960 and 1964 from 1993 to 2018 found dramatic differences in income sources. For those advancing through both wages and investments, labor income jumps averaged $38,000 compared to capital gains of $9,200. The typical person saw wages rise $31,000 while investment income increased just $308. “Labor income tends to lift individuals up the total income ladder, whereas capital income tends to push them down,” researchers wrote. The pattern reverses during financial decline, with capital losses playing bigger roles than wage cuts in downward mobility. (Story URL)
Paychecks Beat Portfolios For Financial Advancement, 26-Year Study Shows
Dec 22, 2025 | 7:02 PM