Wealth among older Americans (baby boomers) has grown, and they are withdrawing more money from investments, which could help support current strong consumer spending, according to data from the Federal Reserve and JPMorgan Chase reported by CNBC. A report released by the Federal Reserve last Friday indicated that the inflation-adjusted median net worth of households aged 75 and older increased by 37% between 2022 and 2025, while the net worth of households under 35 decreased by 23%. A September report from the JPMorgan Chase Institute also showed that 8.2% of individuals transferred funds from investment accounts to checking accounts in the three months ending April 2026, up from 4% in the same period in 2019.