Baby boomers have amassed $80 trillion in wealth, accounting for more than half of total household wealth in the US.

The Allianz report points out that baby boomers, born between 1946 and 1970, have become the wealthiest generation thanks to a unique combination of economic growth and affordable real estate markets. They own $80 trillion, or more than 50% of total household wealth in the US, while Gen Xers and Millennials have $40 trillion and $15 trillion respectively. Their economic growth has been underpinned by average annual returns of 9.1%, compared with 6.7% for Generation X and 6.5% for Millennials.