NEWYou can now listen to Fox News articles!
For the better part of a decade, we’ve been sold a simple narrative in America. Millennials and Gen Z are broke, have it much worse, and boomers and Gen X’ers are rich, and the system is rigged.
It’s a great headline. It’s also increasingly wrong.
Let’s start with the stat that should make both sides very uncomfortable. Baby boomers still control over $85 to $88 trillion in wealth and that’s more than half of all U.S. household wealth.
That’s the scoreboard.
JONATHAN TURLEY: SANDERS’ WEALTH TAX DANGLES CHECKS WHILE TORCHING THE CONSTITUTION
Millennials are doing better than even they realize. They are catching up to boomers at light speed. (iStock)
But here’s the plot twist nobody wants to talk about in America. 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 by 2025, which is a 374% surge. We are going to have the largest intergenerational transfer of wealth over the next decade.
Let me say that again: 374% growth in six years.
AMERICA HAS A VERY EXPENSIVE PROMISES PROBLEM — AND THE BILL IS COMING DUE
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 Gen X did at the same age by as much as 25% in some studies.
So, what’s really going on here?
FOUR LESSONS WHY THE ‘BOOM BELT’ IS MAKING SUCH A BIG NOISE WITH MIGRATION
The ‘phantom wealth’ problem
Millennials look richer on paper, but it doesn’t feel that way.
Why?
Because much of their wealth is tied up in two places right now.
- Real estate (thanks to a historic housing boom).
- The stock market (which has been on a 15-year tear).
Let’s start with the stat that should make both sides very uncomfortable. Baby boomers still control over $85 to $88 trillion in wealth and that’s more than half of all U.S. household wealth.
In fact, housing appreciation alone 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 completely different system.
- Lower home prices (higher mortgage rates).
- Employer pensions.
- Cheaper college.
- Less competition for high-paying jobs.
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’re still catching up.
TRUMP’S ‘BIG BEAUTIFUL BILL’ NEEDS A ‘FAT SHOT’ TO END OUR DANGEROUS DEBT ADDICTION
Here’s the real divide (and it’s not generational)
The real story isn’t boomers vs. millennials.
It’s winners vs. losers.
TIME FOR BUSINESSES TO RETURN TO THEIR ESSENTIAL PURPOSE
Because the data shows something far 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 much of their wealth is tied up in two places right now.
If you picked the right career (tech, finance), bought assets early, and stayed invested, you’re crushing it.
If you didn’t do this, then you’re getting crushed.
That’s not a generational gap. That’s an education gap.
The coming wealth earthquake
Now here’s where this gets really interesting and controversial.
Over the next 10–20 years, we’re about to witness the largest wealth transfer in history:
- $38 trillion globally shifting from boomers to younger generations
That sounds like salvation for millennials. But don’t count on it.
Because many boomers aren’t passing it down. Instead, they’re spending it.
Travel. Healthcare. Longevity. Lifestyle.
The “inheritance bailout” millennials are counting on? It may be a mirage.
Did boomers and X’ers steal the economy and wreck it?
IT’S NOT JUST DEMOCRATS. SOCIALIST MAMDANI’S PLANS SHOULD WORRY REPUBLICANS NATIONWIDE
If you picked the right career (tech, finance), bought assets early, and stayed invested, you’re crushing it. If you didn’t do this, then you’re getting crushed.
Boomers and X’ers didn’t “steal” the economy. Millennials aren’t “broke.”
But here’s the truth nobody wants to say out loud.
This is no longer a fair game. It’s a fast game. So, buckle up.
CLICK HERE FOR MORE FOX NEWS OPINION
If you own assets, you’re winning.
If you don’t, you’re falling further behind faster than ever before.
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
To fix it, everyone needs to really understand capitalism and get in the game. It’s why I talk about it every week on my show, “Red, White, and Green.”
The real question is will you get in the game and be owner or just watch from the sidelines? It’s the two-minute drill, and you’ve got an opportunity now to understand it and build lifetime wealth.
CLICK HERE TO READ MORE FROM TED JENKIN
