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Wage growth, not investments, drove most income gains in a 26-year Norwegian study.
A 26-year study of nearly 300,000 Norwegians found that wage increases were the main driver of upward income mobility, with 95% of those who advanced doing so through salary growth, either alone or with investments.
Only 5% rose through investments alone.
Average wage gains for those who advanced were $31,000, compared to just $308 in investment income.
During financial declines, capital losses played a larger role than wage cuts in downward mobility.
The findings suggest steady wage growth is more impactful than investment returns for most people’s long-term financial progress.
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El crecimiento salarial, no las inversiones, impulsó la mayoría de las ganancias de ingresos en un estudio noruego de 26 años.