Boomers may be the richest generation, but younger generations face different financial challenges

A Pew analysis and related reporting show baby boomers hold the largest share of U.S. wealth and had higher median net worth at similar ages than earlier generations; that wealth is unevenly distributed. The article outlines factors that helped boomers build wealth and summarizes financial headwinds and strengths for Gen X, millennials and Gen Z.

Baby boomers currently hold the largest share of U.S. wealth, reported at about $88 trillion. A Pew Research Center analysis found boomer households had a median net worth of $432,200 in 2022 (in 2024 dollars), higher than the Silent and Greatest generations at the same ages. Experts cited lower tuition costs, more workplace pensions and decades of housing appreciation as factors that supported many boomers' wealth accumulation. The article also describes distinct challenges and advantages facing Gen X, millennials and Gen Z. Key facts: - Pew's 2022 figures show boomer households had a median net worth of $432,200 (2024 dollars); Silent Generation households at the same ages had $335,900 (2001) and the Greatest Generation had $185,300 (1983). - The piece notes boomer wealth is large but unevenly held: reporting cites a combined figure of about $77 trillion in 2022 with the top 10% holding 71% of that total, and a broader description of boomer-held wealth near $88 trillion today. - Experts told The Washington Post that lower college costs, employer pensions, the rise of 401(k) plans and long-term home price gains helped many in the boomer cohort build wealth. - Gen X entered the workforce as defined pension plans were phased out and now faces simultaneous retirement saving and caregiving responsibilities; CFP Board research found 53% of Gen X wished they had started retirement planning earlier. - Experian reported that as of mid-2025 the average millennial had $132,280 in consumer debt, a figure that includes mortgage balances. - Surveys show Gen Z began saving sooner than other recent generations: Transamerica reported a median retirement-saving start age of 20, and Empower reported Gen Z averaged $78,300 in retirement and brokerage accounts in 2024, with 62% receiving a full employer match. Summary: The reported data highlight a generational gap in aggregate and median wealth, with boomers holding substantial wealth that is concentrated toward the top. Younger generations face differing headwinds and advantages related to debt, labor markets and saving behavior. Undetermined at this time.