I wonder what percentage of boomers have millions in nest eggs. I'm sure it's higher than for younger generations. But still, that's quite a generalization.
Replies
Thank you
sep 1, 2025, 6:35 pm • 0 0 • view
Average boomer has $1.6M, median is $400k though. www.usatoday.com/story/money/...
aug 31, 2025, 7:06 pm • 11 0 • view
Story doesn’t say anything about boomers. There are rich and poor in every generation, so keep your labels. The failing polices that plague us now are the result of several generations stripping away the rules and regulations that kept our economy running strong, just to benefit the wealthy.
sep 1, 2025, 1:25 am • 1 0 • view
Well, yes, the homes around me are selling in the $800’s to millions. While paper wealth looks impressive, it’s not particularly useful and I pay higher property taxes because of it. And the people buying these homes are millennials with young children who seem to mostly work in tech.
aug 31, 2025, 9:07 pm • 1 0 • view
More home buyers are over the age of 70 then under 35. Most millenials require help from their parents to purchase a house. House broke is better than having no assets. And you can pay property taxes with equity (reverse mortgage). fortune.com/2025/07/23/b...
aug 31, 2025, 9:33 pm • 0 0 • view
Average means you add up everyone's cash and divide by the number in the group. You could have 9 people with $1 and 1 person with $10 million, and the average for the group would be $1 million and 10 cents. A median of $400K isn't that impressive when median home price is >half that.
aug 31, 2025, 7:23 pm • 3 0 • view
* 90 cents, not 10. But the point still stands. Average is meaningless because we have seriously wealthy outliers.
aug 31, 2025, 7:25 pm • 3 0 • view
Median home price is about $400k as well, so to have that much is a big deal. Most people cant buy a house in cash. The point is that wealth is more concentrated with the older generations than in the past and as a result young families are relatively poorer.
aug 31, 2025, 7:40 pm • 0 0 • view
Your median home price is more up to date than mine, but it emphasizes my point more successfully because of that. In 1969, median net worth was $68K & median home price was ~ $25K. I'll give you that wealth is concentrated in older hands. But there's more going on than that. 1/
aug 31, 2025, 7:47 pm • 1 0 • view
And, tbh, I doubt most people pay cash for a 400K house, even if they have $400K in cash. Data sources: www2.census.gov/programs-sur... www.financialsamurai.com/the-median-n...
aug 31, 2025, 7:49 pm • 0 0 • view
Wealth creates wealth. It compound. "The first million is the hardest", entrepreneurs love to say that. It's because once you have it, it grows on its own. If you don't have it, your chasing a moving target.
aug 31, 2025, 8:13 pm • 1 0 • view
Exactly. And policy can affect target acquisition success. I think it has grown more difficult over time to chase the 1st mil. Things like huge college debt, expensive health insurance, lack of affordable housing all affect that. And it shows in the numbers. www.federalreserve.gov/releases/z1/...
aug 31, 2025, 8:19 pm • 1 0 • view
Wow!
aug 31, 2025, 7:07 pm • 0 0 • view
And 50-somethings are Gen X, not boomers. I'm 52 and have a chunk of change but not $1 mil. I thought I was super fortunate. I had no idea I'm actually below the mean? So bizarre. Now I see I'm a massive failure, thanks a lot 😂 jk
aug 31, 2025, 7:12 pm • 4 0 • view
Wealth is heavily skewed to the right (graph). Median is a better metric to where you rank. Distribution, in general, is the issue. Older generations have simply benefited more than the others as a result. Not hoarding wealth does not make you massive failure ;) get out and spend it!
aug 31, 2025, 7:16 pm • 0 0 • view
From the article: “If you’re a 50-something and you’re not worth a cool $1 million, do not despair. Those numbers are averages, and the super-rich drive them waaaay up.”
sep 1, 2025, 1:34 pm • 2 0 • view
“The “median” American household – picture the middle number in a long list of numbers – achieves a net worth of about $300,000 in the 50-to-59 age range, a far cry from $1 million.”
sep 1, 2025, 1:35 pm • 1 0 • view
Oh now it’s the over 50s? Cause they ain’t boomers. And while you are whining about generational shifts, the very wealthy of this planet are taking everything, hoarding every resource and forcing all of us to buy it back. Know your enemies.
aug 31, 2025, 8:21 pm • 14 0 • view
They are boomers by def. However you are correct that those numbers day nothing about who — or more pointedly what—to complain about. Our capitalist economy rewards and protects wealth— thereby entrenching it. Blaming old homeowners for their # of bedrooms is idiotic.
sep 1, 2025, 6:40 pm • 1 0 • view
I beg to differ that someone born in 1965 to 1975 is a boomer. Everywhere identifies them as Generation X through 1980.
sep 1, 2025, 6:59 pm • 1 0 • view
Oh. I thought he said “over 50s”.
sep 2, 2025, 2:44 am • 0 0 • view
Good god you boomers do nothing but whine. "Not all of us" we know. Unfortunately the majority.
sep 1, 2025, 11:05 pm • 0 0 • view
Just keep blaming boomers and buying crypto, Apple, supporting all the billionaires’ businesses and wondering why you can’t make millions posting videos of crap you get up to around the house. We didn’t invent Jackass.
sep 1, 2025, 11:47 pm • 0 0 • view
Ok, I guess they are counting your home value- but you are still paying a mortgage- and if you have children they are $$ and college us $$$
aug 31, 2025, 7:51 pm • 2 0 • view
Home value is a huge component. While the value passively grows and increases their wealth, it costs the younger generations more and more at the same time. Most boomers have paid their mortgage off or have substantial equity. Their children could be 40 years old.
aug 31, 2025, 8:10 pm • 1 0 • view
My 30 something year old has 2 homes I have one, that is nowhere near paid off My boomer mother worked until she was 76 It's not people staying in their homes and still working, why shouldn't they stay in their homes? It's the wealthy not paying us ALL enough
sep 2, 2025, 12:48 am • 1 0 • view
Maybe maths is not the strong suit of that article’s author?
aug 31, 2025, 7:54 pm • 0 0 • view
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.
aug 31, 2025, 6:53 pm • 0 0 • view
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