People who are 55 and older, which includes baby boomers born between 1946 and 1964, hold the vast majority of wealth. Meanwhile, younger Americans have significantly less. Even then, there are significant discrepancies across generations.
The total estimated wealth in the U.S. is $167.26 trillion, according to SmartAsset using Federal Reserve data. That being said, the distribution of wealth is far from even.
Here’s how much wealth boomers have, how that amount breaks down and what it really means in the grand scheme of disbursement across the country.
How the Total US Wealth Breaks Down
An estimated 73% of all U.S. wealth belongs to those ages 55 and up. Here’s how that breaks down by generation:
- Silent generation (born before 1946): 12.1% of total wealth ($20.18 trillion)
- Baby boomers (born between 1946 and 1964): 51.1% of total wealth ($85.41 trillion)
- Generation X (born between 1965 and 1980): 26.1% of total wealth ($43.70 trillion)
- Millennials and Gen Z (born 1981 and beyond):10.7% of total wealth ($17.97 trillion)
For boomers, this is how that wealth is distributed in terms of assets (as per the Federal Reserve):
- Corporate equities/mutual funds: $23.85 trillion
- Real estate: $19.47 trillion
- Defined benefit pension entitlements: $9.72 trillion
- Private businesses: $7.73 trillion
- Defined contribution pensions entitlements: $6.27 trillion
- Consumer durable goods: $2.99 trillion
- Other assets: $14.12 trillion
As you can see, the majority of boomers’ wealth is tied up in mutual funds, corporate equities and real estate.
Explore More: How Much Should the Average Middle-Class Baby Boomer Have in Savings?
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Factors Contributing to Boomers’ Wealth Share
Back in the 1990s, nearly 70% of the total wealth belonged to working-age households. Since then, the share of wealth has steadily shifted. Now, roughly 65% is with those 60 and up.
Due to older Americans having had more time to watch their assets grow and to experience compounding returns, it’s likely the wealth has become more concentrated to those generations.
This could suggest owning assets like real estate or securities for the long-term results in greater value. In comparison, younger generations haven’t had nearly as much time to watch their assets grow.
The cost of living should also be factored in.
Take housing as an example. As of Q1 2025, the average sales price of homes sold in the U.S. was $514,200, per the Federal Reserve Bank of St. Louis. Back in Q1 1964, that number was $19,600. That same $19,600 house would only cost $205,357 when adjusted for inflation.
The cost of education shouldn’t be overlooked, either. According to the Education Initiative, the average yearly cost of tuition is roughly 40 times higher today than it was in the 1960s. For younger generations, paying for education can be a long-term burden, one that incapacitates their ability to save or invest in their future.
Then there’s wages, which haven’t kept up with inflation over the decades. This combined with student loans and other debts makes it harder for younger generations to afford the rising cost of homes and other assets.
What This Means for Boomers and Younger Generations
“The concentration of wealth among older adults causes a huge divide in financial stability,” said Evan H. Farr, CELA, CAP, Certified Elder Law Attorney at Farr Law Firm, P.C. “[M]ost baby boomer adults believe they have a financially stable life, whereas many younger adults will experience delayed milestones (i.e., buying their first homes, getting married), increased debt levels and significantly reduced ability to save for, and/or invest in, their future.”
So what does this mean for younger generations?
“The wealth inequality between older and younger adults will only increase as younger adults rely increasingly upon future inheritance to address the substantial disparities in housing, education and healthcare costs today,” said Farr.
From now through 2045, an estimated $84 trillion will be transferred from older generations like boomers to younger ones, according to research and consulting firm Cerulli Associate. Gen X, millennials and Gen Z are expected to receive the most from this transfer. This transfer could impact how the heirs make financial decisions, their retirement planning or even their investments.
However, not everyone is going to receive a huge windfall. Whether or not you’re set to receive an inheritance, here are a few ways you can start building wealth now:
- Plan ahead for long-term care needs
- Look for tax breaks you can use for your income and possible inheritance
- Automate your savings and investments when possible
- Invest in your skills and education to get a higher-paying job
- Start multiple income streams
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This article originally appeared on GOBankingRates.com: How Much Wealth Do Boomers Have? The Generational Gap Is Still Growing
