In the first quarter of 2024, 51.8 percent of the total wealth in the United States was owned by members of the baby boomer generation. In comparison, millennials own around 9.4 percent of total wealth in the U.S. In terms of population distribution, there is almost an equal share of millennials and baby boomers in the United States.

In the third quarter of 2024, 51.6 percent of the total wealth in the United States was owned by members of the baby boomer generation. In comparison, millennials owned around ten percent of total wealth in the U.S. In terms of population distribution, there is almost an equal share of millennials and baby boomers in the United States.

This map layer shows the prevalent generations that make up the population of the United States using multiple scales. As of 2018, the most predominant generations in the U.S. are Baby Boomers (born 1946-1964), Millennials (born 1981-1998), and Generation Z (born 1999-2016). Currently, Millennials are the most predominant population in the U.S.A generation represents a group of people who are born around the same time and experience world events and trends during the same stage of life through similar mediums (for example, online, television, print, or radio). Because of this, people born in the same generation are expected to have been exposed to similar values and developmental experiences, which may cause them to exhibit similar traits or behaviors over their lifetimes. Generations provide scientists and government officials the opportunity to measure public attitudes on important issues by people’s current position in life and document those differences across demographic groups and geographic regions. Generational cohorts also give researchers the ability to understand how different developmental experiences, such as technological, political, economic, and social changes, influence people’s opinions and personalities. Studying people in generational groups is significant because an individual’s age is a conventional predictor for understanding cultural and political gaps within the U.S. population.Though there is no exact equation to determine generational cutoff points, it is understood that we designate generational spans based on a 15- to 20-year gap. The only generational period officially designated by the U.S. Census Bureau is based on the surge of births after World War II in 1946 and a significant decline in birth rates after 1964 (Baby Boomers). From that point, generational gaps have been determined by significant political, economic, and social changes that define one’s formative years (for example, Generation Z is considered to be marked by children who were directly affected by the al Qaeda attacks of September 11, 2001).In this map layer, we visualize six active generations in the U.S., each marked by significant changes in American history:The Greatest Generation (born 1901-1924): Tom Brokaw’s 1998 book, The Greatest Generation, coined the term ‘the Greatest Generation” to describe Americans who lived through the Great Depression and later fought in WWII. This generation had significant job and education opportunities as the war ended and the postwar economic booms impacted America.The Silent Generation (born 1925-1945): The title “Silent Generation” originated from a 1951 essay published in Time magazine that proposed the idea that people born during this period were more cautious than their parents. Conflict from the Cold War and the potential for nuclear war led to widespread levels of discomfort and uncertainty throughout the generation.Baby Boomers (born 1946-1964): Baby Boomers were named after a significant increase in births after World War II. During this 20-year span, life was dramatically different for those born at the beginning of the generation than those born at the tail end of the generation. The first 10 years of Baby Boomers (Baby Boomers I) grew up in an era defined by the civil rights movement and the Vietnam War, in which a lot of this generation either fought in or protested against the war. Baby Boomers I tended to have great economic opportunities and were optimistic about the future of America. In contrast, the last 10 years of Baby Boomers (Baby Boomers II) had fewer job opportunities and available housing than their Boomer I counterparts. The effects of the Vietnam War and the Watergate scandal led a lot of second-wave boomers to lose trust in the American government. Generation X (born 1965-1980): The label “Generation X” comes from Douglas Coupland’s 1991 book, Generation X: Tales for An Accelerated Culture. This generation was notoriously exposed to more hands-off parenting, out-of-home childcare, and higher rates of divorce than other generations. As a result, many Gen X parents today are concerned about avoiding broken homes with their own kids.Millennials (born 1981-1998): During the adolescence of Millennials, America underwent a technological revolution with the emergence of the internet. Because of this, Millennials are generally characterized by older generations to be technologically savvy.Generation Z (born 1999-2016): Generation Z or “Zoomers” represent a generation raised on the internet and social media. Gen Z makes up the most ethnically diverse and largest generation in American history. Like Millennials, Gen Z is recognized by older generations to be very familiar with and/or addicted to technology.Questions to ask when you look at this mapDo you notice any trends with the predominant generations located in big cities? Suburbs? Rural areas?Where do you see big clusters of the same generation living in the same area?Which areas do you see the most diversity in generations?Look on the map for where you, your parents, aunts, uncles, and grandparents live. Do they live in areas where their generation is the most predominant?

A 2023 survey found that around ** percent of Generation Z in Indonesia were mainly concerned about social and economic inequality. Other leading concerns included mental health and human rights, as stated by ** percent and ** percent of respondents, respectively.

The largest share of Russian millennials and Generation Z believed that a legislation limiting the gap between a business's best-paid executive's and average employees' rewards would help reduce inequality in Russia, according to a survey from early 2021. Furthermore, over one half of Gen Z held the opinion that higher taxes for the wealthiest people would tackle that issue.

Income quintiles are assigned based on equivalized household disposable income, which takes into account differences in household size and composition using a method proposed by the Organization for Economic Co-operation and Development (OECD). The OECD-modified" equivalence scale assigns a value of 1 to the first adult Age groups refer to the age group of the major income earner. This refers to the main source of income for the household, that is, wages and salaries, self-employment income, net property income, current transfers received related to pension benefits, or other current transfers received from non-pension related sources.
Self-employment income refers to mixed income related to non-farm and farm businesses. Household rental income is not included. Revenues from Current transfers received - pension benefits relate to current transfers received from corporations for employer's pension plans and current transfers received from government for the Canada and Québec pension plans (CPP/QPP) and the Old Age Security program including the Guaranteed Income Supplement (OAS/GIS). Revenues from Current transfers received - others, relate to all other current transfers received not included in Current transfers received - pensions benefits, that is, it includes current transfers from the government sector except for the Canada and Québec pension plans (CPP/QPP) and from the Old Age Security Program (OAS) and the Guaranteed Income Supplement (GIS). It also includes current transfers from Non-profit institutions serving households (NPISH) and from the non-residents sector. Owner/Renter refers to the housing tenure of a household. Households that have subsidized rents (partially or fully) are included under Renter. Distributions by generation are defined as follows and are based on the birth year of the major income earner : pre-1946 for those born before 1946, baby boom for those born between 1946 and 1964, generation X for those born between 1965 and 1980 and millennials for those born after 1980. Note that generation Z has been combined with the millennial generation as their sample size is relatively small. Distribution of value" is the share of a component of income Value per consumption unit reflects the Statistics value" divided by the number of consumption units

WealthTech Market Outlook

According to our latest research, the global WealthTech market size reached USD 9.7 billion in 2024, reflecting the rapid adoption of digital financial services worldwide. The market is projected to grow at a robust CAGR of 14.2% from 2025 to 2033, reaching an estimated USD 29.4 billion by 2033. The primary growth driver is the increasing demand for digital wealth management solutions that offer seamless, automated, and personalized financial services to both individual and institutional investors.

The remarkable expansion of the WealthTech market is being propelled by the accelerating digital transformation within the financial sector. Traditional wealth management practices are being redefined by the integration of advanced technologies such as artificial intelligence, big data analytics, and blockchain. These technologies are not only enhancing operational efficiency but also enabling the delivery of highly personalized investment advice and portfolio management at scale. The proliferation of digital-native clients, particularly millennials and Gen Z, is further driving the transition towards digital platforms, as these demographics demand intuitive, transparent, and cost-effective financial services. Furthermore, the ongoing evolution of regulatory frameworks is fostering innovation while ensuring investor protection, which is crucial for building trust in digital wealth solutions.

Another significant growth factor is the increasing collaboration between traditional financial institutions and fintech startups. Banks, investment firms, and wealth management companies are partnering with WealthTech providers to leverage their technological expertise and expand their digital offerings. This trend is leading to the creation of hybrid advisory models that combine human expertise with algorithm-driven insights, delivering superior value to clients. Additionally, the surge in demand for low-cost investment solutions, such as robo-advisors and digital brokerage platforms, is democratizing access to wealth management services. This is particularly impactful in emerging markets, where a large segment of the population has historically been underserved by traditional financial institutions.

The growing emphasis on financial inclusion and literacy is also playing a pivotal role in the expansion of the WealthTech market. Governments and regulatory bodies are actively promoting digital financial services to bridge the gap between the banked and unbanked populations. WealthTech platforms are leveraging mobile technology and user-friendly interfaces to reach a broader audience, including those with limited financial knowledge. This democratization of wealth management is not only expanding the market’s addressable base but also fostering long-term financial well-being among diverse demographic groups. The integration of ESG (Environmental, Social, and Governance) criteria into digital investment solutions is further attracting socially conscious investors, thereby contributing to the sustained growth of the WealthTech market.

Regionally, North America continues to dominate the WealthTech market, accounting for the largest share due to its advanced technological infrastructure and high adoption of digital financial services. However, the Asia Pacific region is emerging as the fastest-growing market, driven by rapid urbanization, increasing internet penetration, and a burgeoning middle class. Europe is also witnessing significant growth, supported by favorable regulatory initiatives and a strong fintech ecosystem. Meanwhile, Latin America and the Middle East & Africa are gradually catching up, fueled by rising investments in digital infrastructure and a growing appetite for innovative financial solutions. The global landscape is thus characterized by dynamic regional trends, with each market presenting unique opportunities and challenges for WealthTech providers.

Component Analysis

The WealthTech market is segmented by component into Robo-Advisors, Portfo

The statistic shows the distribution of total expenditures among young Millennial households, ages 18 to 24, in the United States in 1985 and 2010. In both years, food accounted for about 15 percent of these households' expenditures.

This statistic displays the results of a survey conducted in December 2015 about the distribution of income expenditure of millennials in Australia in 2015, by expense type. During the survey period, respondents in Australia spent 44 percent of their income on basic living expenses and regular bills.

Most representatives of Generation Y in Russia were worried about income inequality and distribution of wealth, according to the survey conducted in early 2021. The second major concern of Russian millennials was political and business corruption.

This statistic represents the distribution of monthly expenses of millennials from incremental income across India in 2018, based on type. During the surveyed time period, millennials across the country spent **** percent of their monthly incremental income on entertainment including eating out.

This statistic shows the distribution of expenditures of Millennials in the United States in 2016. In that year, Millennials in the U.S. spent **** percent of their income on housing.