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This study estimates the life course incidence and age pattern of affluence among American couples in comparison to nonmarried, never married, and formerly married men and women. Life course probabilities are computed from a series of life tables built upon 25 years of data from the Panel Study of Income Dynamics (N ϭ 8,510 25-yearolds; N ϭ 3,481 45-year-olds). Results confirm the notion that marriage enhances the lifetime probability of affluence, and that this advantage varies sharply by gender and by race. The study suggests that the marital advantage for gaining affluence is textured by a financial landscape of gender and race inequality.It is widely believed that marriage increases the likelihood of becoming affluent, especially when the marriage lasts a long time. This belief is a part of American cultural lore, first articulated by Benjamin Franklin, and continuing to the present

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The likelihood of experiencing poverty at some point during the adult life cycle is estimated. These probabilities are derived through a set of life tables built upon 25 waves of data from the Panel Study of Income Dynamics, and represent an alternative approach to studying poverty than prior empirical studies. Life table analyses are divided into early adulthood (ages 20-40), middle adulthood (ages 40-60),and later adulthood (ages 60-80). The findings indicate that individuals within the sample face a significant risk of poverty at some point during their adult lives, particularly during the early and later stages of adulthood. Duration tends to be relatively short (1 or 2 years), but once poverty occurs, it is likely to occur again. Results also reveal the profound life-course effect that race, education, and gender have upon the likelihood of encountering poverty during the adult years. Several policy and research implications are discussed. © 2001 by the Association for Public Policy Analysis and Management.

The study of American poverty represents a major field of research within the academic and policy communities. Yet, it was not until 1964 that the United States began to officially measure poverty. This review examines what we have learned over the past four decades regarding the effect of poverty on America's families. The following five substantive areas are discussed: (a) the scope and dynamics of American poverty, (b) factors associated with poverty, (c) the effects and consequences of impoverishment, (d) policy strategies for assisting poor families, and (e) needed future research directions.