Boomers Hold About $140 Trillion, Controlling Roughly Three-Quarters of U.S. Wealth
Households headed by people aged 55 and older own roughly $140 trillion, about 75% of the nation’s total net worth, according to a Bank of America Institute analysis of Federal Reserve data.
Analysis of Federal Reserve data by the Bank of America Institute finds that households headed by people 55 and older possess roughly $140 trillion, representing three-quarters of total U.S. net worth. The surge follows a strong equity rally fueled by AI-related stocks, with the so-called Magnificent Seven accounting for over half of S&P 500 gains last year. Boomers, who comprise about 31% of the population, own 54% of all U.S. equities and are driving a large share of consumer spending, especially on travel and groceries.
Wealth within this cohort is unevenly distributed: the richest 10% hold 71% of boomer wealth, while about one-third have no retirement savings and many rely heavily on Social Security. The report warns that a market downturn could disproportionately affect older consumers and the sectors that depend on their spending, such as airlines, hotels and retailers.
