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Rockville (MD), April 1, 2019 — By a wide margin, Baby Boomer households control more wealth than any other generation, according to market research firm Packaged Facts in the brand new report The Financial Services Market: Affluent and High Net Worth Consumers, 8th Edition. Packaged Facts estimates that in 2019 Baby Boomer households garner 54% of total U.S. household net worth, followed by Generation X and Silent Generation/Senior households. Well behind, Millennial households contribute only 4% of total U.S. household net worth. Despite current trends, Packaged Facts’ research reveals that major generational shifts are underway:
Packaged Facts reports that among affluent and high net worth households, wealth share has shifted away from the Silent Generation/Seniors and toward Generation X and Millennial households, while Baby Boomer wealth share has remained relatively consistent. Among affluent households, as of 2019, Baby Boomers have almost 60% of total household net worth, followed by Generation X and Silent Generation households, while Millennial households contribute only 2%. From 2010 to 2019, Generation X affluent net worth jumped from $4 trillion to more than $17 trillion, increasing this generation’s affluent net worth share significantly. Purchasing the Report True to its title, The Financial Services Market: Affluent and High Net Worth Consumers, 8th Edition segments affluent and high-net worth consumers and households, drilling down into their household finances, banking relationships and financial products and services usage and attitudes, digital engagement, payment usage and preferences, and credit card usage and preferences. The report emphasizes 5-year and 10-year trends over time, including market sizing, attitudes, usage, and other metrics. Throughout the report, affluent and high-net worth consumers and households are segmented as follows:
About Packaged Facts Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, and pet products and services. Packaged Facts also offers a full range of custom research services. Reports can be purchased at our company website and are also available through MarketResearch.com. For more essential insights from Packaged Facts be sure to follow us on Twitter (@packaged_facts), LinkedIn, and YouTube.
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