Advertising Disclosure

Baby boomers are the wealthiest generation in history

A UBS report shows boomers are worth $83 trillion

Updated:

Avatar photo
By:
Avatar photo

Mark Huffman
Reporter

Mark Huffman has covered consumer issues since 2004, with a special focus on protecting and empowering older adults. A former news correspondent for the Associated Press Radio Network, Westwood One, and ConsumerAffairs, Mark brings decades of journalistic experience to RetirementLiving.com. He is passionate about giving consumers a voice and helping them make informed decisions. Mark has also created educational content, including Senior Scam Alert, a video resource designed to help seniors recognize and avoid fraud. He holds a B.A. from the University of Kentucky and lives with his family in Richmond, Virginia.
logan-weaver-unsplash

Photo by Logan Weaver on Unsplash

Key Insights

  • Baby boomers (born 1946–1964) hold over USD 83 trillion in net wealth—more than any other generational cohort. 
  • Generation X is the second-richest generation, but with about half the wealth of boomers; Millennials (born after 1981) and the Silent Generation (born before 1945) trail significantly in total net wealth.
  • Over the next 20-25 years, roughly USD 83 trillion is expected to be transferred globally between generations. Boomers will play a central role both as wealth holders and wealth donors.

Baby boomers are the world’s largest generation, as well as its wealthiest. In its 16th annual Global Wealth Report, Swiss bank UBS reveals that baby boomers currently hold more than $83 trillion in net wealth globally, larger than any other generation. 

Their dominance stems from accumulated assets over decades: real estate, financial investments, and businesses, coupled with lower debt burdens and, for many, fully paid homes. This places them far ahead of Generation X, millennials, and the Silent Generation in terms of asset accumulation. 

In the U.S. market specifically, boomers hold over half of all household wealth. By contrast, Gen X holds substantially less (about half of boomers’ total), and Millennials + Gen Z together hold only a small fraction. 

Generational comparisons

  • Generation X is the runner-up: asset-rich compared to younger cohorts yet far from approaching boomers’ level. The UBS data shows Gen X wealth around mid-tens of trillions USD, but still less than half that of boomers. 
  • Millennials and Gen Z lag substantially. Their wealth holdings are much lower—both because they are younger (less time to accumulate), carry more debt, and hold relatively less in traditional financial investments.
  • Silent Generation likewise holds less than boomers, though their wealth is significant; many are in retirement and have shifted asset allocations more toward lower‐risk holdings. 

While boomers are currently the wealthiest generation, UBS projects that $83 trillion will be transferred across generations over the next 20-25 years, with the bulk moving vertically, from older to younger generations. 

As these transfers occur, Gen X and millennials are expected to benefit the most. Over time, that may reduce the wealth gap between boomers and younger cohorts, though the timing, structure and tax, legal, and market conditions will mediate how smoothly or quickly that happens.

Implications

The UBS data suggests several implications:

  • Boomers’ control of wealth gives them considerable influence, but also raises questions about retirement readiness, asset depreciation, and healthcare costs.
  • Younger generations face potentially steep inheritances, but also legacies of real estate price inflation, higher cost of living, and different risk/reward profiles in investments.
  • Policymakers may need to pay increasing attention to tax policy, wealth transfer laws, and inter-generational equity, as the gap between generations narrows, not only in wealth totals but also in opportunity.