Consulting Report
17 Apr 2025

Forecasting the Growth of Millennial Wealth in the US

In collaboration with Wealthfront, this report forecasts how millennial wealth in the US will grow over the next two decades, providing breakdowns of wealth gains across asset classes and income bands.

US millennial wealth is forecast to grow at nearly twice the rate of total US wealth meaning this cohort are on track to accumulate $140 trillion in wealth by 2045. This forecast does not include future generational wealth transfers, which demonstrates that millennials are independently earning and saving more – paving the way for a major shift in generational wealth.

This analysis goes further than simply providing an estimate of growth in total millennial wealth. It shows that wealth growth is driven by equities and pensions which see the highest level of asset accumulation at 12.9% and 13.6% per year respectively. It also shows that, while all income groups are poised for gains, millennial households with incomes above $229,900 are projected to see the largest increase in wealth.

Wealthfront Forecasting the Growth of Millennial Wealth in the U.S. Infographic
This report was brought to you by the Economic Consultancy team.
Oxford Economics specialises in forecasting, economic impact analysis, and evidence-based thought leadership. Our economists and analysts draw from a rich database of figures and analysis on 200 countries, 100 sectors, and 7,000 cities and regions.
The experts behind the research
  • Ben Skelton

    Ben Skelton

    Lead Economist
    Ben Skelton

    Lead Economist

    Ben joined Oxford Economics in 2013 and has extensive experience in model building and economic analysis. Recently, he has led analytical work for clients including Hargreaves Lansdown and the Skipton Group.

  • Alex Stewart

    Alex Stewart

    Associate Director
    Alex Stewart

    Associate Director

    Alex Stewart joined Oxford Economics in May 2023 having spent the previous seven years at the HM Treasury. At Oxford Economics, Alex’s work has focused on assessing the economic impacts of policy reform and analysis of trends in household finances.

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