How Boomers Became The Wealthiest Generation

Baby boomers are sitting on a mountain of wealth unlike anything younger Americans have seen.

Between 1983 and 2022, Americans over 75 saw their household wealth soar, while people 65 and older now hold more than double the average wealth of those under 65, according to new research from New York University. They also enjoy a homeownership rate nearly 17 percentage points higher than younger adults.

All told, boomers have amassed a staggering $82 trillion in net worth, more than twice that of Gen X ($42 trillion) and four times Millennials ($16 trillion), Investopedia reports. Their grip on Wall Street only cements the gap. Federal Reserve data shows boomers hold more than half of all U.S. stocks, worth more than $25 trillion, while Millennials control just 8.2 percent, or about $3.9 tri