Younger Baby Boomers’ Finances

Auditing Their Strengths and Weaknesses

About This Report
Younger boomers are wealthier than Gen Xers and millennials. But with retirement—voluntary or involuntary—now on their horizon, many younger boomers are going to face new financial challenges for which they are not fully prepared.
Table of Contents

When marketers are chastised for ignoring older consumers, it is often said that baby boomers are the ones with all the money. But to what extent do younger boomers live up to that billing? They certainly have more money than the much-courted millennials. But looking at a mix of factors—income, net wealth, retirement readiness and so on—one must give their finances a mixed review.

  • Younger boomers have above-average household income—$82,322, by latest count—even though their often empty-nester households are below-average in size.
  • A majority of younger boomers are still in the workforce—including more than seven in 10 of those ages 55 to 59. But the number drops significantly as one gets closer to age 65.
  • The popular notion that most boomers will work indefinitely does not hold up to scrutiny, as health issues will push many of them out of the workforce. More broadly, health-related expenses are a major concern for this age group, as well they should be.
  • Compared with younger generations, boomers have high net wealth. By one measure, median net wealth for the 55-to-64s was $187,300 as of 2016, nearly double the figure for total households.
  • Home ownership is a big part of this, and about three-quarters of younger boomers are owners. But there’s a caveat: Many will be paying off mortgages well into their retirement years. And they carry other sorts of debt as well, sometimes including student loans. About three quarters carry some debt, with a median amount of nearly $70,000.
  • One report puts the median amount in retirement accounts for 55-to-64s at $120,000. But as they approach a retirement that could easily span a couple decades, many boomers have little or nothing saved for it.
  • On the expenditure side, younger boomer households spent an average of $63,255 in the latest 12-month period for which there is data—more on a per-person basis than younger households. The 55-to-64s spend well-above-average amounts for new vehicles.

Here’s what’s in the full report


Exportable files for easy reading, analysis and sharing.


Reliable data in simple displays for presentations and quick decision making.

2expert perspectives

Insights from industry and company leaders.

Table of Contents

  1. Sizing Up Younger Boomers’ Income
  2. What They’ve Got, What They Owe
  3. Ready or Not, Here Comes Retirement
  1. Key Takeaways
  2. eMarketer Interviews
  3. Read Next
  1. Sources
  2. Media Gallery

Interviewed for This Report

Lori Bitter
The Business of Aging
Interviewed May 4, 2018
Richard Johnson
Urban Institute
Senior Fellow, Income and Benefits Policy Center
Interviewed May 3, 2018

Read This With Insider Intelligence


Mark Dolliver


Tricia Carr
Managing Editor, Interviews
Jennifer Pearson
VP, Research