I would expect it would be higher. It takes decades to accumulate wealth. So Boomers will have saved longer than Generation X and so on. I'm in my 50s now and I've saved up a lot more than in my 20s.
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Millennial are well into their 30s now and boomers on average had more of the share of wealth when they were 30 than Millennials do now. This older generation is hoarding a larger piece of the pie than previous generations. www.federalreserve.gov/releases/z1/...
aug 31, 2025, 7:00 pm • 0 0 • view
I understand. That's not what my comment was about. I was wondering how this wealth is distributed among boomers. What percentage of them have a net worth of "millions?" Not demanding that you provide the answer, just saying many did not in fact retire with millions.
aug 31, 2025, 7:05 pm • 1 0 • view
I asked my good friend ChatGPT and the estimated number of Baby Boomers with a net worth of $2 million or more is 2 to 5 million. chatgpt.com/share/68b49e...
aug 31, 2025, 7:11 pm • 0 0 • view
2-5 million households, not individuals. But nearly have of people with $1M in wealth are boomers. Odds are still in their favour.
aug 31, 2025, 7:18 pm • 0 0 • view
So you’re blaming boomers for buying a home in the 80s? They’re telling us it will take $1 million to retire now, mostly because of medical.
aug 31, 2025, 7:07 pm • 0 0 • view
Having money saved up for retirement isn't "hoarding"; that's just good planning. (Dave Ramsey voice): EVERYONE should be saving for retirement.
aug 31, 2025, 7:06 pm • 0 0 • view
But due to systemic issues, millennials, some Gen X, and Gen Z do not have the disposable income to save the way boomers did. Wages have been stagnant and living costs have increased.
aug 31, 2025, 7:08 pm • 1 0 • view
Yeah, inflation has been pretty high for most of the past 4.5 years.
aug 31, 2025, 7:14 pm • 0 0 • view
The issues people are talking about in this thread go back decades
aug 31, 2025, 7:15 pm • 0 0 • view
Then it's not really related to Baby Boomers.
aug 31, 2025, 7:16 pm • 0 0 • view
When the "savings" come from taking a bigger slice of the pie, rather than growing the pie, it's hoarding. The current generation of 60+ controls more % of total wealth than the previous older generations. Squeezing younger generations harder than they had it.
aug 31, 2025, 7:45 pm • 0 0 • view
I'm Gen X (or as the historians call us, The Awesomest Generation) most of my retirement savings are in stocks and my house. My stocks are increasing in value and I'll eventually spend a lot of that when I retire and eventually I'll sell the house. I imagine lots of Baby Boomers do the same thing.
aug 31, 2025, 8:26 pm • 0 0 • view
Damn right your awesome! But, today the 55-69 gen has 41.7% of the wealth, 40-54 is 20% In 2001 that was 35.2% and 36.4%, respectively. GenX (awesomest) should have expected to have more wealth. But more has been concentrated up. Under 40 was 8.2% on 2001, now it's 6.6%. The squeeze is on.
aug 31, 2025, 9:07 pm • 1 0 • view
Is that kind of savings bad?
aug 31, 2025, 8:26 pm • 0 0 • view
You're talking about individuals and he's talking about generational cohorts and the systems they built
aug 31, 2025, 8:31 pm • 1 0 • view
But most Baby Boomers aren't wealthy and they did a lot to make America better. They vastly reduced racism and sexism and invented lots of cool technology. And I learned a lot from them in my career. I think as a generation, Baby Boomers are pretty cool.
aug 31, 2025, 9:20 pm • 0 0 • view
I have certainly had positive relationships with many baby boomers. My original comment on this thread was questioning making generalizations about members of the generation. Individuals vs systems, again. I don't think anyone here is saying "we must hate all boomers!" If so they're a twit.
aug 31, 2025, 9:29 pm • 1 0 • view
Baby boomers are cool GenXers are cool and work hard too Millennials have innovated like crazy GenZ and Alpha will too. The problem is the system than rewards compounding wealth. Once the boomers pass, GenX will take over and have even greater share at the expense of the rest.
aug 31, 2025, 9:31 pm • 0 0 • view
Why is compounding wealth so people can pay for their own retirement a bad thing? All generations should be maximizing compound interest and investment. I mean, would putting LESS money in my own 401k be more moral?
aug 31, 2025, 9:42 pm • 0 0 • view
No one thinks that's a bad thing. Younger people today can't do it because they don't have as much money left over after paying their bills, because everything is comparatively more expensive than it was in the past. This has been said repeatedly here. I don't know how else to say it.
aug 31, 2025, 9:49 pm • 0 0 • view
It's compounding at the expense of others. It's not growing wealth. It's taking wealth from others because the system works that way. That's the point I've been making. Wealth is concentrating upward at the expense of younger families.
aug 31, 2025, 9:57 pm • 0 0 • view