Which generation has the most wealth? (2024)

Baby boomers have the highest net worth of any American generation.

Baby boomers, defined by the Federal Reserve as born between 1946 and 1964 (currently ages 59 to 77), often find themselves in career decline or early retirement.

Higher net worth is expected: With most baby boomers planning financially for at least a few more decades, they are benefiting from the wealth they have earned through long careers and have more robust retirement accounts than the Silent Generation, which has dipped further into retirement savings.

The Silent Generation (born before 1946) has the second highest net worth (or assets minus debts) at approximately $1.29 million per household, followed by Generation X (born between 1965 and 1980) at $1.11 million per household. Millennials (born after 1980) are the generation with the least wealth. (The Federal Reserve does not yet have data on Generation Z.)

Who has the most wealth?

Baby boomers also have the most annual household assets, followed by the Silent Generation, Generation X and Millennials. In terms of asset components, baby boomers have the most retirement savings, as many people in this generation have not yet retired or have not yet retired. They also have slightly more than the silent generation in shares and real estate.

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What about obligations?

Generation X has fewer assets than boomers and the silent generation – and they also have the highest average liabilities. Generation X households have an average of $146,000 in unpaid mortgages. In fact, mortgages make up the largest portion of Generation

Millennials have the second highest number of annual household commitments, followed by Baby Boomers and the Silent Generation. These trends are likely to change as millennials grow in their careers and Generation X retire.

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