Boomers are the wealthiest generation that’s ever lived, finds Allianz. Millennials are the ‘biggest losers’ thanks to economic crises

An older couple on a boat looking out to sea (Credit: gilaxia—Getty Images)

Baby boomers are the wealthiest generation to have ever lived, a new report from Allianz has found, courtesy of affordable housing and strong equity markets providing huge returns on savings.

Millennials, on the other hand, have been the “biggest loser” in the wealth race, courtesy of “crisis after crisis,” the company’s 2024 Global Wealth Report reveals.