Myth-Busting Millennials vs. Baby Boomers: Where You Stand and What You Can Learn

We compared Millennials and Boomers on five important investing trends — so you can see how you stack up and what you might want to do differently.

Two businessmen, one young man and the other an older man, joke together.
(Image credit: Getty Images)

When it comes to personal finances, the wealth gap between Millennials and Boomers is wide — and growing. A study based on Federal Reserve data shows that the average Boomer’s net worth is 12 times greater than the average Millennial’s.

Naturally, adults ages 25-40 (Millennials) will have less wealth than those ages 57–75 (Boomers). But there are other factors at play, too. A report by think tank New America found that Millennials earn 20% less than Boomers did at the same age. According to Pew research, the median net worth of Millennial households was just $12,500, compared with $20,700 for households headed by Boomers when they were the same age.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Craig Hawley
Head of Nationwide's Annuity Distribution, Nationwide

Craig Hawley is a seasoned executive with more than 20 years in the financial services industry. As Head of Nationwide's Annuity Distribution, Mr. Hawley has helped build the company into a recognized innovator of financial products and services for RIAs, fee-based advisers and the clients they serve. Previously, Mr. Hawley served more than a decade as General Counsel and Secretary at Jefferson National. Mr. Hawley holds a J.D. and B.S. in Business Management from The University of Louisville.