Americans 55 and Over Hold $140 Trillion, Nearly Three Quarters of US Wealth

Americans age 55 and older hold nearly $140 trillion in net worth, roughly three-quarters of the nation’s total, according to a Bank of America Institute report analyzing Federal Reserve data.

The report, released Oct. 1, found that wealth held by the 55-plus group grew more than 20% over two years, powered by strong equity markets. Baby boomers alone, ages 62 to 80 and numbering about 68 million, hold $97.4 trillion — about 52% of all U.S. household net worth — despite making up roughly 31% of the population.

Stocks are the engine. Boomers own 54% of all U.S. equities, and artificial intelligence drove much of the rally. The Magnificent Seven stocks contributed more than half of the S&P 500’s gains last year, while technology accounted for 85% of the index’s return through mid-May, according to the report. Retiree 401(k) accounts are heavily weighted toward tech shares.

Economist Ed Yardeni has dubbed the result a “G-shaped economy,” in which older households drive consumer spending and keep the economy afloat. Americans 55 and older spend more on groceries and travel and less on restaurants, gasoline and clothing than younger households.

But the wealth is narrowly concentrated. The top 10% of boomers held 71% of the generation’s wealth in 2022, while the bottom half of all U.S. households held just $0.37 trillion in stocks compared with $16.15 trillion for the top 0.1%. About 14% of Social Security recipients over 65 rely on the program for more than 90% of their income.

The concentration shapes the broader economy. Economist Mark Zandi estimates that 59% of consumer spending comes from the top 20% of earners, leaving growth dependent on a relatively small group of affluent households.

Some investors warn the foundation looks fragile. Billionaire Ray Dalio has cautioned that AI-driven stock gains resemble a bubble, a risk for an economy leaning so heavily on equity wealth held by older Americans.

Americans age 55 and older hold nearly $140 trillion in net worth, roughly three-quarters of the nation’s total, according to a Bank of America Institute report analyzing Federal Reserve data.

Americans age 55 and older hold nearly $140 trillion in net worth, roughly three-quarters of the nation’s total, according to a Bank of America Institute report analyzing Federal Reserve data.

The report, released Oct. 1, found that wealth held by the 55-plus group grew more than 20% over two years, powered by strong equity markets. Baby boomers alone, ages 62 to 80 and numbering about 68 million, hold $97.4 trillion — about 52% of all U.S. household net worth — despite making up roughly 31% of the population.

The report, released Oct. 1, found that wealth held by the 55-plus group grew more than 20% over two years, powered by strong equity markets. Baby boomers alone, ages 62 to 80 and numbering about 68 million, hold $97.4 trillion — about 52% of all U.S. household net worth — despite making up roughly 31% of the population.

Stocks are the engine. Boomers own 54% of all U.S. equities, and artificial intelligence drove much of the rally. The Magnificent Seven stocks contributed more than half of the S&P 500’s gains last year, while technology accounted for 85% of the index’s return through mid-May, according to the report. Retiree 401(k) accounts are heavily weighted toward tech shares.

Stocks are the engine. Boomers own 54% of all U.S. equities, and artificial intelligence drove much of the rally. The Magnificent Seven stocks contributed more than half of the S&P 500’s gains last year, while technology accounted for 85% of the index’s return through mid-May, according to the report. Retiree 401(k) accounts are heavily weighted toward tech shares.

Economist Ed Yardeni has dubbed the result a “G-shaped economy,” in which older households drive consumer spending and keep the economy afloat. Americans 55 and older spend more on groceries and travel and less on restaurants, gasoline and clothing than younger households.

Economist Ed Yardeni has dubbed the result a “G-shaped economy,” in which older households drive consumer spending and keep the economy afloat. Americans 55 and older spend more on groceries and travel and less on restaurants, gasoline and clothing than younger households.

But the wealth is narrowly concentrated. The top 10% of boomers held 71% of the generation’s wealth in 2022, while the bottom half of all U.S. households held just $0.37 trillion in stocks compared with $16.15 trillion for the top 0.1%. About 14% of Social Security recipients over 65 rely on the program for more than 90% of their income.

But the wealth is narrowly concentrated. The top 10% of boomers held 71% of the generation’s wealth in 2022, while the bottom half of all U.S. households held just $0.37 trillion in stocks compared with $16.15 trillion for the top 0.1%. About 14% of Social Security recipients over 65 rely on the program for more than 90% of their income.

The concentration shapes the broader economy. Economist Mark Zandi estimates that 59% of consumer spending comes from the top 20% of earners, leaving growth dependent on a relatively small group of affluent households.

The concentration shapes the broader economy. Economist Mark Zandi estimates that 59% of consumer spending comes from the top 20% of earners, leaving growth dependent on a relatively small group of affluent households.

Some investors warn the foundation looks fragile. Billionaire Ray Dalio has cautioned that AI-driven stock gains resemble a bubble, a risk for an economy leaning so heavily on equity wealth held by older Americans.

Some investors warn the foundation looks fragile. Billionaire Ray Dalio has cautioned that AI-driven stock gains resemble a bubble, a risk for an economy leaning so heavily on equity wealth held by older Americans.