Gen Z expects to inherit money and assets—but their boomer parents aren’t planning on leaving anything behind

Baby Boomers today hold an estimated $82 trillion in wealth — more than double the $42 trillion held by Generation X and roughly four times the $16 trillion of Millennials. The wide gap stems from several structural advantages Boomers had, including being the first generation to access 401(k) retirement plans, benefiting from decades of steady economic expansion and rising asset values, and buying homes when they were far more affordable. In contrast, younger generations are confronting higher housing costs and mounting mortgage debt that make wealth-building more difficult.

Why Boomers Pulled Ahead

Early access to 401(k)s: Boomers were the first to benefit from employer-sponsored retirement plans like 401(k)s, giving them decades to accumulate assets.
Economic backdrop: Their prime earning years coincided with affordable housing markets and stable wage growth, unlike today’s younger workers who face high home prices and stagnant pay.
Homeownership and investments: Much of Boomer wealth comes from soaring home equity and long-term stock market gains held over decades.
Stock market dominance: Boomers also hold a disproportionate share of the U.S. stock market — more than half of all equities — while Millennials own only a sliver.

The Pressure on Younger Generations

Housing affordability crisis: Millennials and Gen Z face steep barriers to entering the housing market, with high prices and heavy debt loads making it harder to accumulate equity.
Expanding generational gap: As Boomer wealth continues to climb while younger cohorts struggle, the wealth divide between generations has widened sharply — and shows no sign of narrowing.