Not really. Most boomers and are not rich at all. Go to your local food store and you will probably find plenty of older employees...it's not just 20-somethings who are stuck in crappy professions or in a rut. Many boomers did not save for retirement and face the same problems young people do.
Also there are plenty of 20 and 30-year-olds on Reddit (such as on investing and FIRE subs) and hacker news who have sizable investments in real estate and stocks. The post-2009 bull market is the biggest and longest ever ,surpassing even the 80s and 90s in terms of real returns. Plenty of young people have and are getting rich from that, plus also the rise of lucrative FAANG jobs and also online marketing, social media, etc. This is not representative of all young people obviously, but to say that young people are being denied wealth due to older generation hoarding it ,is wrong too. There are plenty of opportunities for young people to get rich.
Regarding luck, boomers did not have as many ways to become wealthy compared to young people today. Although homes were cheaper , mortgage rate were much higher, inflation was much higher, there was no employer healthcare, real stock and real estate returns were poorer, professional jobs did not pay as well, etc. Adjusted for inflation, college grads 40 years ago made less compared to grads today.Homeownership rates were not higher during the 60s, 70s, and 80s despite homes being cheaper, in part because mortgages were so expensive and wages were not that good.
Also there are plenty of 20 and 30-year-olds on Reddit (such as on investing and FIRE subs) and hacker news who have sizable investments in real estate and stocks. The post-2009 bull market is the biggest and longest ever ,surpassing even the 80s and 90s in terms of real returns. Plenty of young people have and are getting rich from that, plus also the rise of lucrative FAANG jobs and also online marketing, social media, etc. This is not representative of all young people obviously, but to say that young people are being denied wealth due to older generation hoarding it ,is wrong too. There are plenty of opportunities for young people to get rich.
Regarding luck, boomers did not have as many ways to become wealthy compared to young people today. Although homes were cheaper , mortgage rate were much higher, inflation was much higher, there was no employer healthcare, real stock and real estate returns were poorer, professional jobs did not pay as well, etc. Adjusted for inflation, college grads 40 years ago made less compared to grads today.Homeownership rates were not higher during the 60s, 70s, and 80s despite homes being cheaper, in part because mortgages were so expensive and wages were not that good.