Boomer wealth surge widens generational wealth gap
Source: Fortune
While Americans over 65 saw their net worth jump 38% between 2021 and 2024—driven by real estate and stock holdings—adults under 35 lost ground, with millennials experiencing a median wealth decline of 5%. The gap reflects structural barriers: boomers own appreciating assets acquired at lower prices and rates, while younger cohorts face asset poverty tied to current valuations and wage stagnation. The wealth transfer narrative assumes intergenerational redistribution. A boomer with $2 million in home equity can gift it to heirs. A Gen Z earner without down payment capital cannot enter asset ownership at all.