How Much Total Wealth Does Gen Z Have? The Answer May Surprise You

Jennifer Taylor

Fri, February 13, 2026 at 10:55 PM GMT+9 3 min read

The oldest members of Gen Z are nearing 30. Born between 1997 and 2012, the bulk of this young generation is likely in the workforce — at least in some capacity.

While they might be working hard for the money, it doesn’t mean they’re getting rich.

Gen Z and millennials only account for 10.7% of the total wealth in the U.S., according to a recent Smart Asset report. In comparison, baby boomers hold 51.1% of the total wealth, while Gen X is responsible for 26% of the total wealth.

This has changed drastically over the past 35 years, as nearly 70% of all wealth was held by working-age households in 1990, according to the report. Today, roughly 65% of all wealth is held by households over age 60.

A main takeaway from this shift is that wealth is now largely investment-based, instead of earnings-based, according to the report. This means Gen Z needs to focus on investing early, so they can start building a portfolio with long-term appreciation.

4 General Budgeting Tips for Gen Z

Start a Budget

Having a simple budget is important, so you know where your money is going, said Patrick Yaghoobians, certified financial planner (CFP) and founder at Noor Financial Services.

“In today’s world, where credit cards and digital wallets are the norm, many people don’t really see what their money is actually being used on, especially Gen Z, which barely uses cash, if ever,” he said. “There is a psychological element to actually handing over cash to the store employee that has been lost over the years.”

As for actually making a budget, he advised focusing more on rough estimates and rounded numbers than tracking every single penny.

“If you try to build a world-class budget off the bat, it will feel overwhelming to them,” he said. “Keeping it simple helps to build some of the realizations that they may be spending more than they thought.”

Learn More: 8 Frugal Habits Americans Are Ridiculed for — and Why You Shouldn’t Care

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Open a Roth IRA

Since most of Gen Z is entering the workforce in some capacity, Yaghoobians advised starting a Roth IRA now.

“The biggest benefit is the fact that most of Gen Z is probably on the lower end of the tax brackets, meaning they are paying lower rates for a while — assuming continued wage growth,” he said. “By taking advantage of a Roth IRA now, they get the tax-free growth and distributions — at retirement — compounded over decades.”

While it might not seem like much today, he said even contributing $25 per month can add up in the long run.

Save Half of All Raises

It’s easy to get into the habit of spending more as you earn more. However, Matthew J. Filepp, chartered financial analyst (CFA), CFP and founder of PB Wealth, said to keep this in check by saving 50% of all raises.

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“This is especially important for Gen Z, as they have yet to enter their peak-earning years — typically 40 to 50 years old — so they will encounter many raises in the future,” he said. “Lifestyle creep is real and can lead to evaporating savings you have taken years to build.”

Build an Emergency Fund

For adult members of Gen Z, failing to prepare for unexpected expenses can lead to financial distress. While saving six months of living expenses is the general rule, Filepp said to at least start by putting three months of living expenses aside, before investing excess cash in the market.

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This article originally appeared on GOBankingRates.com: How Much Total Wealth Does Gen Z Have? The Answer May Surprise You

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