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Limits To Boomer Wealth

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Limits To Boomer Wealth

Net worth among the baby boom generation has grown substantially, but it may not be enough to get them through retirement without Social Security and pension plans.


By Bill Lurz, Senior Editor September 30, 2004
This article first appeared in the PB October 2004 issue of Pro Builder.

 

A recent study by American Association of Retired Persons shows net worth among the baby boom generation has grown substantially in recent years, but may not be enough to get them through retirement without Social Security and pension plans.

The AARP study, "The Distribution of Financial Wealth Among Boomers," found that median net worth among boomers increased from $36,000 in 1989 to more than $107,000 in 2001. Counting home equity, net worth exploded from $140,000 to $400,000 for the period.

A second AARP study, "Inequality of Financial Wealth Among Boomers," shows wealth is now more concentrated in the highest income brackets than in the late 1980s. The top 1% holds a greater share of net worth than the bottom 80%, and almost as much as the bottom 90%.

The two studies confirm that builders of active adult and retirement housing should target the most affluent buyers - but also that a huge market may be forming for affordable retirement housing.

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