Yes, unless inflation-adjusted incomes increase each decade, as they did for much of the 20th century: in that scenario a child's peak earning years will tend t

Yes, unless inflation-adjusted incomes increase each decade, as they did for much of the 20th century: in that scenario a child's peak earning years will tend to happen when incomes are higher than the peak earning years of the parents. Whether incomes should increase forever, and why they did for so long and no longer do, is a separate question.