Balance sheets of early boomers: Are they different from pre-boomers?

Michael S. Finke, Sandra J. Huston, Deanna L. Sharpe

Research output: Contribution to journalArticlepeer-review

15 Scopus citations

Abstract

Nationally representative data are used to compare the magnitude, composition, and distribution of accumulated wealth of early boomers (born between 1946 and 1957) and pre-boomers (born between 1934 and 1945) at the same life cycle stage (ages 44-45, occurring in 1989 for pre-boomers and in 2001 for early boomers). Early boomers have accumulated greater mean wealth than pre-boomers at the same age, however median wealth did not change and net worth among lower-middle wealth groups declined. Multivariate analysis identified demographic change among those in the wealth distribution tails that indicates the increasing importance of education and race as predictors of wealth.

Original languageEnglish
Pages (from-to)542-561
Number of pages20
JournalJournal of Family and Economic Issues
Volume27
Issue number3
DOIs
StatePublished - Sep 2006

Keywords

  • Baby boomers
  • Cohort wealth
  • Net worth

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