NEW YORK, June 25, 2026, 08:04 EDT
- At the dateline, U.S. core equity trading was still closed. NYSE core hours are 9:30 a.m. to 4:00 p.m. ET.
- Baby boomers have more wealth than any other U.S. generation, but their median is much lower than the $1.6 million-plus average.
- Americans 65 to 74 have an average $100,250 in transaction accounts, about 5.6% of this group’s $1.78 million mean net worth.
- The key investor takeaway is about cash flow rather than wealth: retirement spending, adviser assets, and home-equity demand could depend on how easily boomers convert paper wealth into income.
Baby boomers in the U.S. will hold nearly $90 trillion in household wealth by the end of 2025, over half the country’s total, but banks, brokers and consumer firms are more focused on their ready cash than net worth figures. Investopedia reported June 24 that average boomer net worth is above $1.6 million, with median net worth around $370,000.
Gap tells the story here. Rich households drag up the average. But it’s the median that lines up with the customers most firms want as boomers head further into retirement.
People ages 65 to 74 have a mean net worth of $1.78 million, but the median is just $410,000, using Federal Reserve Survey of Consumer Finances data. So the median comes in at roughly 23% of the mean. For transaction accounts—checking, savings, money markets—the same age group averages $100,250, according to FinanceBuzz in a June 17 piece that ran on multiple consumer-finance sites.
In other words, older boomers have about 5.6 cents in liquid transaction cash for every dollar of average net worth. The ratio is rough, but it gets past the headline wealth numbers.
The Federal Reserve on June 18 updated its Distributional Financial Accounts, which offer quarterly estimates for U.S. household wealth by generation, age, income, race and education. The Fed said it pulls from Financial Accounts data and the Survey of Consumer Finances to assign assets and liabilities to household categories.
Boomer wealth isn’t a straightforward demand boost for investors. Their net worth props up fees, rollovers, and estate planning, but most retirees aren’t sitting on big piles of cash they can use for trips, renovations, or healthcare. To spend, they usually need to sell assets or tap tax-advantaged accounts.
Fidelity’s new retirement survey shows average 401(k), 403(b) and IRA balances fell in the first quarter of 2026 compared with the prior quarter, but are still higher than a year ago. Average 401(k) balances came in at $141,000, down 4% from the fourth quarter, up 11% over last year. Total 401(k) savings rates hit 14.4%, close to Fidelity’s suggested 15% rate.
Fidelity Investments president of workplace investing Sharon Brovelli said in the report that “Retirement savers started the year strong.” Brovelli said most participants kept making contributions during the market swings.
Average 401(k) balances for baby boomers came in at $260,300, while their IRA balances averaged $286,700, according to a Fidelity Viewpoints article from June 23. Figures come from Fidelity account data as of March 31. “Saving for retirement is a marathon, not a sprint,” said Mike Shamrell, Fidelity’s vice president of thought leadership. Fidelity
That set-up helps asset managers but doesn’t do much for near-term spending. People can invest retirement accounts, although pulling money is often tied up with taxes and market swings. Home equity runs even higher, but it’s tough to tap unless homeowners sell, downsize, take out a loan against it or get a reverse mortgage.
Investor attitudes could diverge based on the numbers. Firms taking fees from managed retirement assets might keep targeting boomer money, seeing it as a big resource. Banks and lenders may chase business from yield-hunting customers, pushing cash products and home-equity loans. But retailers looking for retirees who spend freely may watch cash figures closer than net worth.
Investopedia said the Fed’s next triennial Survey of Consumer Finances comes out later this year. For now, the most recent data shows the richest U.S. generation isn’t nearly as liquid as its average net worth suggests.
