Opinion

The great wealth lie: Millennials are richer than you or they think

The top 10% of millennials are outperforming boomers at the same age, while the average Millennial still feels behind

By Ted Jenkin Fox News

Published April 27, 2026 5:00am EDT | Updated April 27, 2026 7:02am EDT

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For the better part of a decade, we’ve been sold a simple narrative in America. Millennials and Gen Z are broke, have it much worse, and boomers and Gen X'ers are rich, and the system is rigged.

It’s a great headline. It’s also increasingly wrong. 

Let’s start with the stat that should make both sides very uncomfortable. Baby boomers still control over $85 to $88 trillion in wealth and that’s more than half of all U.S. household wealth. 

That’s the scoreboard.

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Millennials are doing better than even they realize. They are catching up to boomers at light speed. (iStock)

But here’s the plot twist nobody wants to talk about in America. Millennials are quietly catching up faster than any generation in modern history.

According to Federal Reserve data, millennial wealth exploded from about $3.8 trillion in 2019 to over $18 trillion by 2025, which is a 374% surge.  We are going to have the largest intergenerational transfer of........

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