Boomer couples with degrees retire with 7x the median wealth of those without formal qualifications in Great Britain

A new study from the University of Bath reveals that education plays a key role in how people choose their partners and wealth inequality within and across generations.

Led by social mobility expert, Dr. Ricky Kanabar, from the Department of Social & Policy Sciences, the research, published as a University College London working paper, looks at two key groups—baby boomers (born between 1947–1953) and Generation X (born between 1973–1979). The study aims to understand how the way people pair up affects their wealth and the accumulation of assets, including how inheritances play a role in this process.

Using the Wealth and Assets Survey for Great Britain, the study found that by the time university educated baby boomers their mid-to-late 60s, they have a median net wealth of £2.49 million—nearly seven times higher than couples with no formal qualifications. These wealth differences stem from differences in the rate at which pension and housing wealth are accumulated.

Almost 1 in 3 highly educated Baby Boomer couples report receiving an inheritance by the time they reach their 50s, while less than 1 in 10 couples with no formal education report the same. For those who do receive an inheritance, the average amount is £79,370, which is twenty-eight times larger than what couples with no formal qualifications typically receive.

University-educated Baby Boomer couples plan to leave an inheritance of about £332,000 at the median, which is more than double the amount reported by boomer couples with no formal qualifications. Importantly, similar patterns in wealth accumulation and inheritance expectations are seen among Generation X, whose parents are Baby Boomers.

Dr. Ricky Kanabar said, “The study shows that the tendency for people to partner with others of a similar education level, and for this pattern to repeat across generations when combined with the rapid accumulation of wealth among certain baby boomers, is important for understanding wealth inequality, both now and in the future.”