On average, members of the baby boomer generation saved approximately $4,060 over the course of 2023, lagging behind the average savings levels of every other surveyed generation. This is according to the newest edition of the “Wealth Watch” survey conducted by New York Life Insurance Co.

By comparison, millennials (ages 28 to 43 last year) led all age groups with an average savings of about $9,300. Members of Generation Z (ages 12 to 27) were next at $6,441 per person, followed by Generation X (ages 44 to 59) at $5,132.

Still, the survey found that financial resiliency was details ⇒

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