Gen Z and the Illusion of Wealth in a System Built for Boomers

As Boomers and Gen X accumulate and consolidate wealth—$80 trillion is expected to transfer hands by 2045, most of it held by Baby Boomers—the generational baton of financial stability isn’t being passed down. Instead, younger generations are handed higher costs of living, record student debt, and an economy where wages haven’t kept pace with inflation for decades.

Gen Z, in particular, is growing up in a world where money is often digital, indirect, and disembodied. Many don’t see or touch their earnings—paychecks are automatically deposited, and then immediately swallowed by bills, subscriptions, and debt repayments. Some are so far removed from the experience of tangible wealth that one could imagine a company paying them in placeholder figures—just numbers on a screen—and there would be little practical difference.