Boomers are 33 times as wealthy as Gen Z – and they’re getting richer

30 comments

1. > Gen-Zs aged 16 to 24, who typically have (a nest egg of) £15,200.

   Did the Telegraph only interview the Gen Z grandkids of Telegraph readers?

2. That’s because they were able to buy a houses for 52p

3. Reddit is shocked to find that personal pensions exist

4. The meltdown in the Telegraph comments section is something to behold.

   They really think it is as simple as they’ve worked harder and longer than the younger generation.

   Nothing to do with the average house price in London being something like 14x the average income.

5. It just shows that the younger generations need to drop buying takeaway coffees and cancel their Netflix subscriptions. Then everything will be even /s

6. Boomers may have lucked out a bit, that’s life, but it doesn’t seem all that stark to me.

   I think this is fairly encouraging:

   > Older millennials, aged 35 to 44, have fared slightly better, accumulating £209,600.

   I mean, who has any wealth at 16 – 24? I had absolutely zilch until I started work, and then lived entirely payday to payday like most young people.

   Once you learn the power of compounding, and actually start to make some real money then it becomes far more possible. Let’s say these millenials have 1/2 in their pension and 1/2 in their house. If you’ve got £100k in a pension at 44 and pay in £200 PCM then you’re likely to have ~£250k come retirement.

   Add in the house, and you’re essentially in the same place as the boomers.

   I think it’s fine to acknowledge that things worked out pretty well for that generation, but you have to keep some semblance of balanced realism. This constant messaging to young people that they’re fucked is both completely untrue, but also terrifyingly self fulfilling

7. Well obviously. Even ignoring the actual generational differences that would be true to some extent.

   People who’ve been working for 50 years are going to be significantly wealthier than those who’ve been working for at most 6 years and many of whom will still be in full time education.

8. we need a quadruple lock on the state pension, bound to RPI

9. Breaking news: Person who has worked for the past 50 years is more wealthy than person who has worked for (at best) the past 10 years

10. Erm some are and some aren’t. Why does everyone forget about GenX I’m Gen X and rent and have little money. Not everyone is in the same boat.

11. East Midlands, I don’t know anyone with a nest egg of 15k’s…

12. People at the end of their lives have more money than those at the start of their working lives….

13. Can somebody tell me where all these rich boomers live because all the ones I know are don’t have a pot to piss in

14. Tbf I don’t think there’ll be many 18 year olds who earn as much or own as many assets as a 60 year old. That 60 year old wouldn’t have been that well off at 18 either.

    The difference of course is the 18 year old has far less hope of ever attaining the economic level of the 60 year old because governments have fucked things.

15. Tell me again how desperately you need those winter fuel payments?

16. People talk about London this and London that but a lot of Gen Z are doing well outside of London.

    I work with two Gen Z lads. Both single lads in their early 20s and they have got themselves on the property ladder already. They earn about £40k.

17. Isnt that how age works? The longer youre around, the more you have?

18. Crazy how people who have been working for 3 years haven’t got the same wealth as people who have been working for 50 years.

    Who would have thought!!

19. Not spending £400 a month in car payments on a car they’ll never own. Throw in having paid the mortgage off and they’ve got money to save/invest above that of someone either sat at home on the dole in their moms basement or with a young family.

20. Collect rent and blame everything wrong on young people.

21. love all the people on here saying that they know some young person is rich or an old person looks poor

    so all the stats must be wrong

22. People in the comment section have no brains. They think that the article compares how much money gen-z, millennials and boomers have at this point and fail to understand that it compares generations at the time they were at the same age.

23. People towards the end of a long career richer than those on average just starting and with student debt. In other news, the sky is blue.

    There are structural issues perpetuating significant generational inequality.

    AND this is a shit article regardless.

24. As they saying goes “Youth is wasted on the young and wealth is wasted on the old”

25. I’m all for forced euthanasia now.

    Let’s start with the bankers and politicians and work our way backwards.

26. Boomer “pull yourself up by your bootstraps” Brigade Assemble!

    Initiate operation Avocado Toast and down vote everything!

27. Its almost as if they’re in control and have rigged the economy to work in their favour.

28. Prolly because they’re 2-3x older and have owned houses which skyrocketed in price due to covid inflation

29. The problem isn’t about boomers being wealthier in the present day. To suggest people don’t deserve to get more money as they age is silly.

    The problem is boomers were so much more wealthier in inflation terms when they were the same age.

30. Probably because they have had more time to accumulate their wealth, should be teaching younger people to invest and save a good chunk of their money to help grow their wealth over time.

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