I've been reading the Incerto series by Nassim Taleb and he talks quite frequently about nonlinearities and their outsize impact. He mentions how a friend of his saw how during the Gulf War, everybody had planned for the war to increase the price of oil. So his friend bet against everybody else. Turns out, everybody was stockpiling oil due to the war, and given how short it was, there was an oil glut afterwards. His…
You're goal should not necessarily be to move up a social-economic class, but to at least provide your children with more opportunity than you had. Inter-generational wealth accumulation is very important.
Most people don't go rags to riches, it's typically families that do so over multiple generations. With poor people focusing on educating their children, who become professionals, who then have kids with the opportunity to make it big. If you look at Bill Gates, he's the son of a judge. Zuckerberg is the son of a dentist. One of the Google founders is the son of a college professor. Even our president came from a wealthy family.