For the better part of a decade, we in America have been told a simple story. Millennials and Gen Zers are broke and have it much worse, and boomers and Gen Xers are rich, and the system is rigged.
It’s a great headline. Things are also going wrong more and more often.
Let’s start with the statistic that should make both sides very uncomfortable. Baby boomers still control more than $85 to $88 trillion in wealth, which is more than half of all U.S. household wealth.
That’s the scoreboard.
JONATHAN TURLEY: SANDERS’ WEALTH TAX DANGLES CHECKS AS THE CONSTITUTION IS UNDERTAKEN IN FRANCE
Millennials are doing better than they realize. They’re overtaking boomers at light speed. (iStock)
But here’s the plot twist that no one in America wants to talk about. Millennials are quietly catching up faster than any generation in modern history.
According to Federal Reserve data, millennial wealth exploded from about $3.8 trillion in 2019 to over $18 trillion in 2025, an increase of 374%. Over the next decade we will see the largest intergenerational transfer of wealth.
Let me say it again: 374% growth in six years.
AMERICA HAS A VERY EXPENSIVE PROMISE PROBLEM – AND THE BILL COMES OUT
That’s not a struggling generation. That’s the Artemis II for money.
Even more controversial? Adjusted for inflation, millennials now have more wealth than boomers, and in some studies it was as high as 25% for Generation X at the same age.
So, what’s really going on here?
FOUR LESSONS WHY THE ‘BOOM BELT’ IS MAKING SUCH A BIG NOISE WITH MIGRATION
The problem of ‘phantom wealth’
Millennials look richer on paper, but it doesn’t feel that way.
Why?
Because a lot of their wealth is currently tied up in two places.
- Real estate (thanks to a historic housing boom).
- The stock market (which has been on a tear for 15 years).
Let’s start with the statistic that should make both sides very uncomfortable. Baby boomers still control more than $85 to $88 trillion in wealth, which is more than half of all U.S. household wealth.
In fact, housing market appreciation alone has added trillions of dollars to millennial balance sheets in recent years. Especially since COVID-19.
That’s great unless you’re trying to buy your next home or upgrade your home.
Boomers, on the other hand, built wealth in a very different system.
- Lower house prices (higher mortgage interest rates).
- Employer pensions.
- Cheaper college.
- Less competition for well-paying jobs.
LEE CARTER: 45% OF AMERICANS WHO CALL THEMSELVES ‘INDEPENDENT’ ARE NOT INDEPENDENT AT ALL – THEY ARE JUST ANGRY
Millennials are trying to cope with high real estate prices. (iStock)
Millennials didn’t get that deal. They got the following.
- Student debt.
- Sky-high housing costs (a 20% down payment now averages $85,000).
- A gig economy instead of pensions.
And yet they are still catching up.
TRUMP’S ‘BIG BEAUTIFUL BILL’ NEEDS A ‘BOLD SHOT’ TO END OUR DANGEROUS DEBT ADDICTION
This is the real divide (and it’s not generational)
The real story isn’t about boomers versus millennials.
It’s winners versus losers.
TIME FOR COMPANIES TO RETURN TO THEIR ESSENTIAL PURPOSE
Because the data shows something much more uncomfortable:
Translation?
HIGH SCHOOL SENIORS SEE RED WHEN THEY LEARN THE SIZE OF THE NATIONAL DEBT
Millennials look richer on paper, but it doesn’t feel that way. Why? Because a lot of their wealth is currently tied up in two places.
If you chose the right career (tech, finance), bought assets early and stayed invested, you’ll crush it.
If you haven’t done this, you will be crushed.
That’s not a generation gap. That’s an education gap.
The coming wealth earthquake
This is where things get really interesting and controversial.
Over the next ten to twenty years, we are about to witness the largest wealth transfer in history:
MIKE ROWE WARNS OF A DECREASING WORK ETHICS PROBLEM AS YOUNGER GENERATION’S ‘SNOWFLAKES’ ARE LESS EFFECTIVE
- Globally, $38 trillion is being transferred from boomers to younger generations
That sounds like salvation for millennials. But don’t count on it.
Because a lot of boomers don’t pass it on. Instead, they spend it.
Travel. Healthcare. Lifespan. Lifestyle.
The ‘legacy bailout’ millennials are counting on? It could be a mirage.
Did boomers and X’ers steal and destroy the economy?
IT’S NOT JUST DEMOCRATS. SOCIALIST MAMDANI’S PLANS WOULD WORRY REPUBLICANS ACROSS THE NATION
If you chose the right career (tech, finance), bought assets early and stayed invested, you’ll crush it. If you haven’t done this, you will be crushed.
Boomers and X’ers didn’t “stole” the economy. Millennials are not “broke.”
But here’s the truth that no one wants to say out loud.
This isn’t fair game anymore. It’s a fast game. So, buckle up.
CLICK HERE FOR MORE FOX NEWS ADVICE
If you own assets, you win.
If you don’t, you’ll fall further behind faster than ever before.
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
To solve this, everyone needs to truly understand and participate in capitalism. That’s why I talk about it every week on my show, “Red, white and green.”
The real question is: do you join the game and become an owner or do you just watch from the sidelines? It’s a two-minute exercise, and now you have a chance to understand it and build lifelong wealth.
CLICK HERE TO FROM TED JENKIN
