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

Over the past three years, the net worth of American households has shown a significant disparity between older and younger generations. According to the Federal Reserve's Survey of Consumer Finances, median net worth rose by nearly 38% for households headed by someone 75 or older between 2022 and 2025, while it fell by 23% for those headed by someone under 35.

This age-based wealth gap is even more pronounced when considering inflation adjustments, with the oldest group now holding roughly 15 times the wealth of the youngest. The wealthiest group, aged 75 and above, now possesses $140 trillion, which represents about three-quarters of the nation's total net worth. This concentration of wealth among older Americans has led Yale law and history professor Samuel Moyn to describe an "oldigarchy" in which older, disproportionately wealthy individuals hold outsized influence.

Moyn argues that the interests of the economy and political system are increasingly serving the older, wealthier population, rather than younger generations. The gap between the wealthiest and youngest households is not solely due to the older generation having had more time to save, but also in how those resources are allocated.

Older households are more likely to own homes and financial investments, while younger households are less likely to own a home and have a larger share of their assets tied up in vehicles. The stark difference in ownership patterns is partly responsible for the wealth disparity, as older households have benefited from appreciating assets, while younger households have faced challenges such as an unfavorable job market, rising housing costs, and other economic headwinds.