Over 55 isn’t babyboomers anymore that’s gen x. I think this kind of data is exactly what you’d expect to see in a somewhat equal society: you work your whole life, saving, of course you’ve got more savings then people who haven’t been working their whole lives. Really I suspect averaging here is skewing your perception, that 70% can hide a few super wealthy and many more poor (which is what you’d expect given 1% of the population own more than the combined bottom 95% ).