The wealthy boomer problem is metastasizing—they got 38% richer over the last 3 years as Gen Z and millennials under 35 got wiped out

Americans’ financial experiences have moved in sharply different directions over the past three years. Wealthy baby boomers became 38% richer, while Gen Z and millennials under 35 were hit hard.

A widening financial divide

The contrast highlights how different assets can shape people’s sense of financial security. A large stock portfolio and an expensive car may both signal wealth, but they have not had the same effect on Americans’ finances during the period.

For wealthy boomers, the period coincided with a substantial increase in wealth. Younger adults, by contrast, saw their financial position deteriorate, creating a stark generational divide.

Why the contrast matters

The figures show that broad descriptions of the American financial experience can obscure major differences between age groups. The same three-year period produced significantly different outcomes for older, wealthier Americans and adults under 35.

Gen Z and millennials were not simply left behind by a modest margin. The comparison describes their finances as having been wiped out, underscoring the severity of the gap reported between younger adults and wealthy boomers.

What the figures show

• Wealthy boomers became 38% richer over three years.
• Gen Z and millennials under 35 experienced a sharply worse financial outcome.
• Stock portfolios and expensive cars can create different financial results despite both conveying a sense of wealth.

The figures point to a pronounced divide in how recent economic conditions affected Americans across generations and wealth levels.