Baby Boomers: Higher Assets Can Fund Their Future

May 5, 2017 Data-driven Marketing

Baby Boomers, born 1946-1964, may have faced lower interest rates in the last few years, but for many of them, the rising stock market has stacked the cards in their favor. Even though they hold about 40% of the nation’s credit balance, they control over 46% of U.S. total invested assets – increasing their share of assets by about 2.1% in the last five years. As they begin to take mandatory retirement account distributions, they may be seeking additional financial advice to maintain their wealth. Let’s take a deeper look at how Baby Boomers’ likely financial wallet has changed.

Did You Know? Change in Baby Boomer Financial Wallet

Source: WealthComplete®, Income360®, Discretionary Spending Dollars™, CreditStyles® Pro

Shift to Higher Asset Tiers

Compared to five years ago, there are many Baby Boomers that have climbed their way into higher asset tiers; almost 10% of Boomer households grew their wealth to have over $125,000 in estimated assets.

Percent of Boomer Households by Estimated Asset Tier in 2016 (change from 2011)

  • $0 – $25,000: 35.6%  (7.7%)
  • $25,000 – $125,000: 21.3%  (2.0%)
  • $125,000+: 43.1%  (9.7%)

Source: WealthComplete®

 

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