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January 1, Boomer Wealth Skyrockets as Younger Generations Struggle: Report



Baby boomers in the United States are growing older and wealthier, while younger generations are falling behind, according to recent data.

“Young persons who haven’t had the time to save money and to buy a home, they are not seeing that same kind of increase in wealth. But [for] existing homeowners, it has been an absolute boon for them,” said The Heritage Foundation economist E. J. Antoni.

Federal Reserve data from Q3 2023 reveals that Americans over the age of 55 now own 72% of the nation’s wealth, with those above 70 holding 30% of all wealth and seeing the biggest gain over the past year at $3.57 trillion. The aging population has also grown, with about 2.3 million more people over the age of 70 in the U.S. since 2019.

In contrast, younger generations, including Gen X, millennials, and Gen Z — all under the age of 55 — have faced stagnant growth. The 25% of American households aged 40 to 54 own just 20% of the nation’s wealth, while those under 40 hold under 7%. Together, these two groups make up 53.3% of all households but just 27% of the wealth.

The strong stock market and rising housing valuations in the post-COVID era have helped older Americans, who have also had decades to benefit from stock investment and homeownership. This comes as a new FOX poll shows younger voters favoring former President Donald Trump over President Biden by 13 points, with the economy being one of their biggest concerns heading into 2024.

Former Senate Judiciary Committee senior adviser Garrett Ventry commented on the situation:

“Inflation is tough. Their financial status is tough. Young people are in more credit card debt than ever in terms of retirement. They just have less saved for basic emergencies like medical bills, car repair, those types of things.”

He added that the economy is a “compounding issue for Biden,” with factors such as inflation, foreign policy, and the impeachment inquiry piling on top of each other.

Why It Matters (op-ed)

The widening wealth gap between baby boomers and younger generations is a glaring reminder of the failed policies implemented by the left. As boomers continue to accumulate wealth, millennials and Gen Z are struggling to keep up.

This disparity highlights the consequences of liberal economic policies, such as inflation and overregulation, which have stifled opportunities for younger Americans. The recent FOX poll showing younger voters favoring Trump over Biden by 13 points is a clear indication of their dissatisfaction with the current administration’s handling of the economy.

The left’s inability to create an environment conducive to wealth-building for all ages will only exacerbate generational inequality and fuel resentment among younger voters.

As our loyal readers, we encourage you to share your thoughts and opinions on this issue. Let your voice be heard and join the discussion below.




  1. Don

    January 2, 2024 at 8:50 am

    The younger generation are screwed. Mainly by government and by greedy real-estate people by pricing them out of the housing market.That started about 25 years ago.

  2. masr

    January 2, 2024 at 10:37 am

    In our 20’s, 30’s,40’s, 50’s we lived a spartan life: no new car; no vacations; limited clothing-much from good will; no eating out…
    The millennialsGen X, Y, Z are all about spending their money – not doing without or saving.
    We went to school with a solid profession and job in mind. These days college students go for international studies, sociology, women’s studies, art appreciation, foreign nation studies. “Knowledge” that no one else cares to partake in.

  3. Gail

    January 2, 2024 at 11:05 am

    First of all if you eliminated the couple dozen over 70 billionaires off this list it flips over.
    There are literally more boomers than the younger generations so at a per capita bases it closes up
    Boomers homes have been falsely inflated because of political interference in the housing market causing a shortage driving prices up, but boomers income has not followed, yet TAXES on that property has gone up exponentially regardless of income which has not nearly kept up. Boomers have property yes, they also have the highest tax burden by far.

  4. Bill Evans

    January 2, 2024 at 12:26 pm


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