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The Boomer Wealth Boom
Steven Malanga, in City JournalLink to more items from this source
[Opinion]
July 12, 2021

"Baby Boomers ... leave behind a giant pile of money that the media have labeled 'the greatest wealth transfer' in modern history: a collective net worth that currently sits at $35 trillion, much of which will be passed down to their heirs.... Yet news stories about this wealth transfer are overlooking something basic: a simple explanation of how boomers accumulated this wealth amid a supposedly massive financial crisis spurred by the alleged inadequacies of our private-sector pension systems, which, four decades ago, began a shift from defined-benefit retirement plans to individual savings accounts."

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