I don't know if you are making a joke, because the data says the exact opposite.
When the silent generation had 55% of the "total wealth" (and declining), boomers had 40% of the remainder, but now boomers have 55% (and climbing, instead of declining), and the younger generations only have 26% (combined).
It looks like they are still hoarding (for lack of a better term) wealth than relinquishing it.
> When the silent generation had 55% of the "total wealth" (and declining), boomers had 40% of the remainder, but now boomers have 55% (and climbing, instead of declining), and the younger generations only have 26% (combined)
One, stock ownership, not total wealth.
Two, boomer share is declining after peaking around 2020. It’s flat-ish as they begin retiring. Gen X got screwed, but the pick-up among Millenials looks like a return to the norm. (Look at the Boomer/Silent share in the 1990s.)
Three, the generation on the precipice of dying, the Silents, are not the chief stockholders. Boomers still have decades to live. They’re not looking to eke out another year or two of growth at the long-term expense of anything, they need that decades-on value to bank on.
Weren't millennials a bit too young to have significant (or even any) amounts invested in the market back in 2009? And then they got live through one of the biggest stock market booms in history (which unlike dot.com didn't just blow up)?
OTH Gen X got a chance to lose their savings during the latter stages of dot.com and then again in 2009.
Many millennials graduated from college and couldn't get a job due to the market crash. So, not only did they not have savings, they couldn't save if they wanted to. Then, by the time a good chunk could have savings and start investing, inflation slapped them in the face. Now, grocery shopping for a house full of kids is downright expensive. Not to mention, the amount of monthly bills a household is expected to pay is 4-500% of what their parents had to pay while wages have largely stayed the same, housing costs are through the roof because boomers want to make sure they get their "investments" back, and so on.
When the silent generation had 55% of the "total wealth" (and declining), boomers had 40% of the remainder, but now boomers have 55% (and climbing, instead of declining), and the younger generations only have 26% (combined).
It looks like they are still hoarding (for lack of a better term) wealth than relinquishing it.