It is a verifiable fact that your parents' income has a significant impact on your income. The same goes for the stability of your family. The following is an explanation of how your parents' income and your family's stability affect your income: Someone in Singapore approaches a jackpot machine with S$20,000 and someone else approaches with S$20. Common sense says that the person with S$20,000, who obviously has much more chance (odds) is more likely to win than the person who can only afford one game. Some people are born with more inherent advantages than others (due to the lottery of birth). For example, the rich get richer, while the poor get poorer. This means that some people are born with inherent disadvantages. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay In a study conducted in the United States, for example, it was revealed that children from families with a higher family income than more than 90% of the population end up with 200% more income than their peers in the families with lower income. Comparing children from wealthy backgrounds to those from middle-class families, children from wealthy families still earn about 75% more. Success in most cases is inherited. If your parents run a successful multi-million dollar business, you may inherit an already established business. This could put you in a high income bracket right outside the door. At the very least, children from successful families have good coaches. Their parents most likely know of a path to success, such as trading stocks, running a business, or even succeeding in the corporate world. These children therefore have the benefit of expert guidance, from people who are invested in their success. Poorer children, on the other hand, often have to find help the hard way. Children from middle-class families tend to earn double the income of their working-class counterparts (children from poor backgrounds). It is therefore a fact that your parents' income is a determining factor for yours, as richer parents can give you more advantages. A person from a poor family, starting his own business or a small organization is dangerous. You will most likely have to consult a loan shark just because your own family cannot provide you with the funds you need. It's a nightmare for that person when the business fails because they will be burdened by debt and end up not recovering. The opposite is a person from a rich family, who can give him an interest-free loan. Donald Trump, for example, received loans of up to $9 million from his father. In case the business fails, there are no real consequences. Rich children get repeated chances, while poor children only get one or two. The rich are more likely to succeed, precisely because they have more options, assuming that people from both backgrounds face similar risks in life. This applies not only to business, of course. Wealthy families can afford private schools and tutoring for their children, while for poorer families, school failure could lead to a permanent low-income situation. Wealthy families can also support their children who fail college exams and have to try again another year. Children from more affluent families are also more likely to see their talents and abilities.