Baby Boomers are loaded. Why are they so stingy?

Baby Boomers were born between 1946 and 1964 – and are the luckiest generation in history. Most of the cohort, which numbers 270 million across the rich world, have not fought wars. Some got to see the Beatles live. They grew up during strong economic growth.

Not all are rich, but in aggregate they have amassed great wealth, owing to a combination of falling interest rates, declining house building and strong earnings. American Baby Boomers, who make up 20 per cent of the country’s population, own 52 per cent of its net wealth, worth $US76 trillion ($108 trillion).

The Economist