TITLE:
Ensuring Financial Happiness through an Integrated Social Welfare System
AUTHORS:
William Elliott
KEYWORDS:
Social Welfare, Child Development Accounts, Baby Bonds, Guaranteed Income, Free College
JOURNAL NAME:
Sociology Mind,
Vol.15 No.4,
September
18,
2025
ABSTRACT: This article presents a set of five policy proposals that can be used to form a planned and cohesive social welfare policy for ensuring all children have the real opportunity to pursue their own financial happiness. The policy proposals are Child Development Accounts (CDAs), Guaranteed Income, Free College, Baby Bonds, and national financial literacy training in schools. CDAs are a tool government can use to ensure people are financially included. They also Guaranteed income ensures all citizens not only have enough income to meet basic needs, but enough to spark wealth creation. Free college serves as a wealth transfer at age 18 to incentivize some form of postsecondary education to include training in the military or other type of qualifying national service. Baby Bonds are a tool that provides citizens with a wealth transfer at age 25 giving children the opportunity to successfully launch into adulthood by strengthening the return they can receive from their postsecondary credentials. And financial literacy training gives government a tool to ensure citizens have the teaching and training they need to build the knowledge and financial skills required to effectively manage institutional resources for the purpose of pursuing their financial happiness.