Younger Americans Lead Older Generations in Family Wealth

(Arkansas Business)

Younger Americans had greater family wealth on average than did Gen Xers and baby boomers did when the generations were close to the same average age of 33-34, the Federal Reserve Bank of St. Louis reported last month.

It defined younger Americans as millennials and members of Gen Z, those born in 1981 or later; Gen X as those born between 1965 and 1980; and baby boomers as those born between 1946 and 1964.

In the fourth quarter of 2023, younger Americans owned $1.29 for every $1 of wealth owned by Gen Xers, on average, at the same age.

Younger Americans owned $1.22 for every $1 of wealth owned by baby boomers, on average, at close to the same age.