We are the 3%.
- When boomers were roughly the same age as millennials are now, they owned about 21% of America's wealth, compared to millennials' 3% share today, according to recent Fed data.
- Baby boomers are outpacing the Silent Generation in terms of wealth as they age into retirement, while millennials and Gen X are lagging behind boomers as they age.
- Millennials are financially behind as they struggle with increased living costs, the fallout of the recession, and student-loan debt, but it's possible they can catch up.