Wealth – a household’s assets minus its debts – is an important indicator of child well-being. Higher household wealth related to better academic achievement, behavior, and health among children. Yet a sizeable share of American children, including a majority of Black and Hispanic children, grow up in households with very low levels of wealth, and wealth inequality among households with children is rising even faster than among the general population. This volume of RSF, edited by social policy experts Christina Gibson-Davis and Heather Hill, provides the first comprehensive examination of the contours and consequences of wealth inequality for children under the age of 18. An interdisciplinary roster of contributors consider the vast racial and ethnic disparities in wealth and how those disparities affect child well-being. 
 
Contributors Fabian Pfeffer and Nora Waitkus find that child wealth inequality is far worse in the U.S. than in other industrialized countries. Editors Gibson-Davis and Hill show that a relatively small group of American parents—mostly White—control the lion’s share of wealth, with Black and Hispanic parents having only pennies on the dollar for every dollar of White parental wealth. Nina Bandelj and Angelina Grigoryeva show how White parents with above median wealth are more likely than other parents to practice “financially intensive parenting,” saving and borrowing in ways that promote child achievement. After controlling for other measures of family resources and socioeconomic status, Portia Miller and colleagues demonstrate that family wealth is uniquely related to both academic and behavioral development throughout childhood and adolescence and that wealth helps buffer the negative effects of low family income. Jordan Conwell and Leafia Zi Ye find equalizing wealth is not sufficient to eliminate race- and ethnic-based gaps in academic achievement: even among families with the same levels of wealth Black and Hispanic children often have significantly worse scores than Whites.   
 
High levels of childhood wealth inequality are not inevitable; they are the consequence of laws and practices that favor wealth accumulation among few, primarily White, families. Jin Huang and coauthors look at one of the few policy models for increasing savings in low-income child households, Child Development Accounts, which have been shown to increase educational savings and improve maternal mental health, but they have yet to be adopted nationwide. Two studies in this issue, by Margot Jackson and colleagues and by Katherine Michelmore and Leonard Lopoo, find that large-scale income-support programs, the EITC and Medicaid, have positive spillovers onto asset accumulation, but policies designed to fundamentally alter the distribution of wealth among families with children will require more expansive changes to the tax code and program asset caps.
 
This issue of RSF expands our understanding of wealth inequality and its effects on children, and provides important insights into policies and practices that either directly or indirectly boost wealth acquisition among child households.