GITNUXREPORT 2025

Baby Boomer Wealth Statistics

Baby Boomers control most wealth, rely on real estate and retirement savings.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

Our Commitment to Accuracy

Rigorous fact-checking • Reputable sources • Regular updatesLearn more

Statistic 1

Nearly 60% of all U.S. mortgage debt is held by Baby Boomers

Statistic 2

Over 80% of Baby Boomers own their homes outright or have a mortgage

Statistic 3

The average debt for Baby Boomers is approximately $63,000, including mortgages, credit cards, and student loans

Statistic 4

Baby Boomers' average household debt-to-income ratio is around 16%

Statistic 5

Nearly 80% of Baby Boomers plan to use home equity loans or reverse mortgages to fund retirement, indicating reliance on real estate

Statistic 6

Approximately 30% of Baby Boomers have experienced a significant reduction in their credit scores due to financial hardships

Statistic 7

The percentage of Baby Boomers who have filed for bankruptcy in their lifetime is around 15%, compared to less than 10% for Millennials and Gen X

Statistic 8

Baby Boomers make up approximately 26% of the U.S. population

Statistic 9

The total number of Baby Boomers in the U.S. is roughly 73 million

Statistic 10

Approximately 70% of Baby Boomers are homeowners, compared to 65% of Millennials

Statistic 11

Baby Boomers' median household income is approximately $81,000

Statistic 12

Around 27% of Baby Boomers have no estate plan or will

Statistic 13

The median age of Baby Boomers during retirement is around 67 years

Statistic 14

The share of Baby Boomers in the workforce is approximately 20%, down from 40% two decades ago

Statistic 15

Baby Boomers’ charitable giving averages around 3% of their income annually, total donations estimated at over $30 billion annually

Statistic 16

The average age at which Baby Boomers retire is approximately 65 years

Statistic 17

Baby Boomers’ total annual expenditure on travel and leisure exceeds $200 billion, making them the largest consumer group in this sector

Statistic 18

Approximately 20% of Baby Boomers use financial advisors for estate planning, compared to 35% of younger generations

Statistic 19

Baby Boomers hold approximately 54% of U.S. personal wealth

Statistic 20

As of 2022, Baby Boomers control about $70 trillion in wealth in the United States

Statistic 21

The median net worth of Baby Boomers is approximately $254,000

Statistic 22

Baby Boomers hold over 70% of all household wealth in the U.S.

Statistic 23

Baby Boomers' average retirement savings is approximately $144,000

Statistic 24

45% of Baby Boomers have no retirement savings

Statistic 25

Baby Boomers' real estate accounts for about 35% of their total wealth

Statistic 26

Baby Boomers are more likely to have diversified investment portfolios than younger generations

Statistic 27

About 50% of Baby Boomers have less than $100,000 in retirement savings

Statistic 28

Baby Boomers' wealth is concentrated primarily in real estate and retirement accounts, totalizing over 80%

Statistic 29

Baby Boomers' investment in stocks has increased by approximately 15% over the last decade

Statistic 30

Approximately 50% of Baby Boomers have non-retirement investment accounts, such as taxable brokerage accounts

Statistic 31

Baby Boomers own about 60% of the U.S. gold reserves, accounting for a significant portion of personal wealth tied to precious metals

Statistic 32

About 30% of Baby Boomers have experienced a significant loss in their investment portfolios during the 2008 financial crisis

Statistic 33

Baby Boomers are increasingly investing in alternative assets such as cryptocurrencies, with nearly 10% holding digital currencies as of 2023

Statistic 34

Baby Boomers hold roughly 75% of all inherited wealth passed within families in the U.S.

Statistic 35

Baby Boomers are the only generation where the majority have more than 60% of their net worth in real estate

Statistic 36

Baby Boomers’ assets allocated to cash and equivalents constitute about 15% of their total wealth, reflecting cautious investment behavior

Statistic 37

Baby Boomers’ net worth has increased by over 20% in the last decade, driven largely by rising home values and stock market gains

Statistic 38

Baby Boomers’ propensity to leave an inheritance has led to an increase in intergenerational wealth transfer, averaging over $100,000 per estate

Statistic 39

The average Baby Boomer’s savings accounts for about 30% of their total assets, with the rest spread across stocks, bonds, and real estate

Statistic 40

Approximately 15% of Baby Boomers have received inheritances of over $250,000, significantly boosting their financial security

Statistic 41

Less than 25% of Baby Boomers have a long-term care insurance policy

Statistic 42

Baby Boomers' average annual healthcare expenditure is about $12,000 per person

Statistic 43

The likelihood of Baby Boomers requiring long-term care increases significantly after age 75, with over 50% needing some form of assistance

Statistic 44

The average annual premium paid by Baby Boomers for long-term care insurance is around $2,700, with only about 10% holding such policies

Statistic 45

Over 40% of Baby Boomers are concerned about their ability to pay for healthcare during retirement

Statistic 46

Baby Boomers' average annual income is around $74,000

Statistic 47

The majority of Baby Boomers plan to work past traditional retirement age, approximately 60%

Statistic 48

The average monthly Social Security benefit for Baby Boomers is $1,650

Statistic 49

Almost 90% of Baby Boomers express concern about outliving their savings

Statistic 50

Only about 15% of Baby Boomers own rental property as a source of additional income

Statistic 51

Nearly 40% of Baby Boomers believe they will have to work during retirement to maintain their lifestyle

Statistic 52

Roughly 65% of Baby Boomers have saved for retirement primarily through employer-sponsored plans, such as 401(k)s

Statistic 53

About 15% of Baby Boomers have downsized their homes upon retirement, leveraging home equity for financial stability

Statistic 54

The median savings for Baby Boomers approaching retirement is approximately $150,000, which may be insufficient for a 20-year retirement period

Statistic 55

The average Baby Boomer's savings rate has declined by approximately 10% over the last 15 years, indicating increased financial insecurity

Statistic 56

Baby Boomers' participation in employer-sponsored retirement plans has decreased, with only about 65% actively contributing as of 2023

Statistic 57

The incidence of bankruptcy among Baby Boomers has increased by 25% over the past decade, partially due to retirement savings shortfalls

Statistic 58

Nearly 65% of Baby Boomers expect to rely on Social Security as their primary retirement income, though many are concerned about the sustainability of benefits

Statistic 59

Around 35% of Baby Boomers use annuities as part of their retirement income plan, seeking guaranteed income streams

Statistic 60

The number of Baby Boomers experiencing financial hardship has risen by 18% since 2015, largely due to inadequate retirement savings

Slide 1 of 60

Sources

Our Reports have been cited by:

Trust Badges - Publications that have cited our reports

Key Highlights

Baby Boomers hold approximately 54% of U.S. personal wealth
As of 2022, Baby Boomers control about $70 trillion in wealth in the United States
The median net worth of Baby Boomers is approximately $254,000
Baby Boomers hold over 70% of all household wealth in the U.S.
Nearly 60% of all U.S. mortgage debt is held by Baby Boomers
Baby Boomers' average retirement savings is approximately $144,000
45% of Baby Boomers have no retirement savings
Baby Boomers' real estate accounts for about 35% of their total wealth
Over 80% of Baby Boomers own their homes outright or have a mortgage
Baby Boomers' average annual income is around $74,000
Baby Boomers make up approximately 26% of the U.S. population
The total number of Baby Boomers in the U.S. is roughly 73 million
Approximately 70% of Baby Boomers are homeowners, compared to 65% of Millennials

Baby Boomers, wielding over half of the U.S. personal wealth and holding $70 trillion, are at a pivotal crossroads as they navigate retirement, real estate, and intergenerational wealth transfer amidst rising financial uncertainties.

Debt, Mortgages, and Financial Security

Nearly 60% of all U.S. mortgage debt is held by Baby Boomers
Over 80% of Baby Boomers own their homes outright or have a mortgage
The average debt for Baby Boomers is approximately $63,000, including mortgages, credit cards, and student loans
Baby Boomers' average household debt-to-income ratio is around 16%
Nearly 80% of Baby Boomers plan to use home equity loans or reverse mortgages to fund retirement, indicating reliance on real estate
Approximately 30% of Baby Boomers have experienced a significant reduction in their credit scores due to financial hardships
The percentage of Baby Boomers who have filed for bankruptcy in their lifetime is around 15%, compared to less than 10% for Millennials and Gen X

Debt, Mortgages, and Financial Security Interpretation

Despite their reputation as financially seasoned, nearly 60% of all U.S. mortgage debt is held by Baby Boomers, whose substantial home equity reliance and debt levels—averaging $63,000—highlight a generation balancing on the financial edge of retirement, with many turning to their homes as both safety nets and sources of cash as economic hardships leave their credit scores and bankruptcy rates more vulnerable than their younger counterparts.

Demographic and Population Characteristics

Baby Boomers make up approximately 26% of the U.S. population
The total number of Baby Boomers in the U.S. is roughly 73 million
Approximately 70% of Baby Boomers are homeowners, compared to 65% of Millennials
Baby Boomers' median household income is approximately $81,000
Around 27% of Baby Boomers have no estate plan or will
The median age of Baby Boomers during retirement is around 67 years
The share of Baby Boomers in the workforce is approximately 20%, down from 40% two decades ago
Baby Boomers’ charitable giving averages around 3% of their income annually, total donations estimated at over $30 billion annually
The average age at which Baby Boomers retire is approximately 65 years
Baby Boomers’ total annual expenditure on travel and leisure exceeds $200 billion, making them the largest consumer group in this sector
Approximately 20% of Baby Boomers use financial advisors for estate planning, compared to 35% of younger generations

Demographic and Population Characteristics Interpretation

Despite comprising over a quarter of the U.S. population and commanding substantial wealth and spending power, nearly a third of Baby Boomers neglect estate planning, revealing a paradoxical legacy of financial sophistication intertwined with complacency.

Financial Assets and Wealth Distribution

Baby Boomers hold approximately 54% of U.S. personal wealth
As of 2022, Baby Boomers control about $70 trillion in wealth in the United States
The median net worth of Baby Boomers is approximately $254,000
Baby Boomers hold over 70% of all household wealth in the U.S.
Baby Boomers' average retirement savings is approximately $144,000
45% of Baby Boomers have no retirement savings
Baby Boomers' real estate accounts for about 35% of their total wealth
Baby Boomers are more likely to have diversified investment portfolios than younger generations
About 50% of Baby Boomers have less than $100,000 in retirement savings
Baby Boomers' wealth is concentrated primarily in real estate and retirement accounts, totalizing over 80%
Baby Boomers' investment in stocks has increased by approximately 15% over the last decade
Approximately 50% of Baby Boomers have non-retirement investment accounts, such as taxable brokerage accounts
Baby Boomers own about 60% of the U.S. gold reserves, accounting for a significant portion of personal wealth tied to precious metals
About 30% of Baby Boomers have experienced a significant loss in their investment portfolios during the 2008 financial crisis
Baby Boomers are increasingly investing in alternative assets such as cryptocurrencies, with nearly 10% holding digital currencies as of 2023
Baby Boomers hold roughly 75% of all inherited wealth passed within families in the U.S.
Baby Boomers are the only generation where the majority have more than 60% of their net worth in real estate
Baby Boomers’ assets allocated to cash and equivalents constitute about 15% of their total wealth, reflecting cautious investment behavior
Baby Boomers’ net worth has increased by over 20% in the last decade, driven largely by rising home values and stock market gains
Baby Boomers’ propensity to leave an inheritance has led to an increase in intergenerational wealth transfer, averaging over $100,000 per estate
The average Baby Boomer’s savings accounts for about 30% of their total assets, with the rest spread across stocks, bonds, and real estate
Approximately 15% of Baby Boomers have received inheritances of over $250,000, significantly boosting their financial security

Financial Assets and Wealth Distribution Interpretation

Despite controlling over half of U.S. wealth and boasting a median net worth of $254,000, many Baby Boomers face retirement savings shortfalls and heavy reliance on real estate and inheritance, highlighting a generation whose assets tell a story of accumulated wealth intertwined with caution, legacy, and the unpredictable tides of economic upheaval.

Healthcare, Expenses, and Lifestyle Factors

Less than 25% of Baby Boomers have a long-term care insurance policy
Baby Boomers' average annual healthcare expenditure is about $12,000 per person
The likelihood of Baby Boomers requiring long-term care increases significantly after age 75, with over 50% needing some form of assistance
The average annual premium paid by Baby Boomers for long-term care insurance is around $2,700, with only about 10% holding such policies
Over 40% of Baby Boomers are concerned about their ability to pay for healthcare during retirement

Healthcare, Expenses, and Lifestyle Factors Interpretation

With less than a quarter of Baby Boomers insured for long-term care and over 40% worried about affording future healthcare, it’s clear that many are navigating retirement’s golden years in a health-related financial minefield—preferably with some insurance, but tragically, many without.

Retirement Planning and Income

Baby Boomers' average annual income is around $74,000
The majority of Baby Boomers plan to work past traditional retirement age, approximately 60%
The average monthly Social Security benefit for Baby Boomers is $1,650
Almost 90% of Baby Boomers express concern about outliving their savings
Only about 15% of Baby Boomers own rental property as a source of additional income
Nearly 40% of Baby Boomers believe they will have to work during retirement to maintain their lifestyle
Roughly 65% of Baby Boomers have saved for retirement primarily through employer-sponsored plans, such as 401(k)s
About 15% of Baby Boomers have downsized their homes upon retirement, leveraging home equity for financial stability
The median savings for Baby Boomers approaching retirement is approximately $150,000, which may be insufficient for a 20-year retirement period
The average Baby Boomer's savings rate has declined by approximately 10% over the last 15 years, indicating increased financial insecurity
Baby Boomers' participation in employer-sponsored retirement plans has decreased, with only about 65% actively contributing as of 2023
The incidence of bankruptcy among Baby Boomers has increased by 25% over the past decade, partially due to retirement savings shortfalls
Nearly 65% of Baby Boomers expect to rely on Social Security as their primary retirement income, though many are concerned about the sustainability of benefits
Around 35% of Baby Boomers use annuities as part of their retirement income plan, seeking guaranteed income streams
The number of Baby Boomers experiencing financial hardship has risen by 18% since 2015, largely due to inadequate retirement savings

Retirement Planning and Income Interpretation

With nearly 90% of Baby Boomers worried about outliving their savings and only 15% owning rental properties as a safety net, it's clear that many are facing retirement with a financial tightrope—hoping Social Security holds steady, yet knowing they may need to keep working longer just to stay afloat.