3 Wise Reasons Boomers Carry More Cash Than Younger Generations

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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};be("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat(Vn)),notifLabel:document.querySelector(".".concat($n))};t.notifDropdown&&ro(e,t)}))}()}};]]>Laura BogartSun, Sep 14, 2025, 4:09 PM 4 min readSome stereotypes die hard. This is especially true about generations and money — in no small part because some of them hold the tiniest kernel of truth. Or, as Amy Poehler paraphrased on her podcast, “Boomers are all about money. Gen X is like, ‘Is it all about money?’ Millennials are like, ‘Where is the money,’ and Gen Z is like, ‘What is money?'”Find Out: How Much the Average Middle-Class Retiree Spends Monthly at Age 65For You: 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable AlternativesNo, millennials didn’t bankrupt the world because they love lattes, but it does seem true that Gen Zers are excited about new trends blending technology and finance. There’s also evidence to suggest that one of the biggest stereotypes — that baby boomers are more likely to keep cash on hand — is the real deal.Despite being slightly antiquated in the digital age, cash offers an alternative payment method in emergencies or at places that don’t take cards. It also provides a bit of old-fashioned privacy in a world where all of your transactions are being tracked (or even publicized on Venmo). So, maybe boomers are on to something by being all about cash, and here are three reasons their decision-making is spot on.Boomers have experienced a lot in their lifetimes, from major personal milestones to large-scale collective events. They’ve seen significant economic changes, which have compelled them to be more cautious about their saving and spending habits. By using cash, older Americans have a clear sense of what they’re spending.The tangible, tactile experience of handling cash allows people to keep track of what’s coming in and what’s going out every time they hand a $20 bill to a cashier. That experience also makes the act of spending money more tangible in a way that using a credit card, or even a debit card, simply doesn’t.You had $100 in your wallet, and now you have $80. So, you have to ask yourself: Is what you’re buying really worth watching your wallet get thinner?Trending Now: 3 Reasons Gen-Z Isn’t As Bad With Money As You Might ThinkFor many seniors, opening a wallet and grabbing a few bills is easier and more preferable to going online to transfer funds or check their balance. They also don’t want to worry about finding the right bank branch to withdraw cash without incurring extra fees.It’s hard to fault their reasoning there — especially if you’ve ever had to fumble through a half-remembered password or search for the correct ATM. That said, there are times when it’s safer and less cumbersome to carry plastic instead of cash.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,615.28 +30.99 (+0.47%)Dow 3045,883.45 +49.23 (+0.11%)Nasdaq22,348.75 +207.65 (+0.94%)Russell 20002,405.13 +8.07 (+0.34%)VIX15.69 +0.93 (+6.30%)Gold3,716.80 -2.20 (-0.06%)PortfolioSign in to access your portfolioSign inTop gainersUUUU Energy Fuels Inc. 13.82 +1.89 (+15.84%)OKLO Oklo Inc. 95.68 +12.97 (+15.68%)FIGR Figure Technology Solutions, Inc. 37.33 +4.83 (+14.86%)RZLV Rezolve AI PLC 7.72 +0.96 (+14.20%)DGNX Diginex Limited 10.50 +1.10 (+11.70%)Top losersMENS Jyong Biotech Ltd. 51.82 -9.68 (-15.74%)LRN Stride, Inc. 139.76 -18.60 (-11.75%)ABTC American Bitcoin Corp 7.08 -0.81 (-10.33%)RNA Avidity Biosciences, Inc. 40.22 -4.52 (-10.10%)RELY Remitly Global, Inc. 16.67 -1.49 (-8.20%)Most activeOPEN Opendoor Technologies Inc. 9.50 +0.43 (+4.69%)TSLA Tesla, Inc. 410.04 +14.10 (+3.56%)NVDA NVIDIA Corporation 177.75 -0.07 (-0.04%)SNAP Snap Inc. 7.46 +0.12 (+1.63%)GRAB Grab Holdings Limited 6.14 +0.14 (+2.33%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersOKLO Oklo Inc. 95.68 +12.97 (+15.68%)GOOG Alphabet Inc. 251.76 +10.38 (+4.30%)GOOGL Alphabet Inc. 251.61 +10.81 (+4.49%)UBER Uber Technologies, Inc. 98.85 +2.96 (+3.09%)ASML ASML Holding N.V. 867.30 +53.43 (+6.56%)Top economic events