Reflections from a Baby Boomer

I am a Baby Boomer.  I just attended my fiftieth Walt Whitman high school reunion. I’m a third-generation Washingtonian—my father worked for Congress for forty years, and my grandfather was an economist at the USDA.

I’ll soon be leaving the Edgemoor Club in Bethesda, where I’ve been a member for over sixty years—and once served as the pro. I was fortunate growing up, surrounded by adult mentors who modeled generosity and reciprocity. We still have a house in the neighborhood.

I stand on the shoulders of the Greatest Generation—those who endured war, built infrastructure, and laid the foundation for prosperity. Yet I find myself deeply unsettled by what my own generation is leaving behind.

With an estimated $84 trillion in accumulated wealth, Boomers hold unprecedented financial power. But what are we doing with it? Too little, I fear—for the future, for the environment, for the generations to come.

I have no children of my own—just one nephew and one niece. And I often wonder: what are we truly passing on to their generation? What is our legacy?

Yes, we’re leaving behind significant assets—primarily in real estate and accumulated wealth. The so-called “Great Wealth Transfer” is underway, with trillions poised to shift from Boomers to Millennials and Gen X. By the end of 2025, Millennials are projected to become the richest generation on record. Nearly three-quarters of Boomers are expected to pass on their home equity, estimated at $17 trillion, sparking what economists call a “silver tsunami” in the housing market.

But wealth alone is not a legacy.

Our mass retirement is creating a labor and skill gap in critical sectors like healthcare, manufacturing, and construction. Small businesses owned by Boomers are closing at alarming rates, leaving communities vulnerable. Many organizations are scrambling to implement succession plans, trying to preserve institutional knowledge before it disappears.

And there’s a troubling shift in mindset: a growing number of wealthy Boomers are choosing to spend their money during their lifetimes rather than saving it for future generations. According to a 2024 Northwestern Mutual survey, only 22% of Boomers plan to leave an inheritance.

We are aging rapidly. Nearly 10,000 Boomers turn 65 every day. This demographic shift carries profound economic and societal implications. And yet, I see too little urgency in addressing the environmental crises, social inequities, and spiritual voids that threaten the generations to come.

We must ask ourselves: Are we content to be remembered as the generation that consumed more than it conserved? Or can we still choose to be remembered as stewards—of land, of wisdom, of possibility?

My legacy is to give back. In 1979, I helped launch the newspaper recycling program in Montgomery County and became the first recycling coordinator for Washington, D.C. In Northern Virginia, I helped build and manage an oil recycling plant that, over the years, processed hundreds of millions of gallons of used motor oil. We also recovered thousands of tons of old phone books, which were recycled into insulation—right here, where I live today.

Before I go, I want to give back what I call “happy returns”—a gesture of gratitude for all I’ve inherited, and for the generous gifts of my departed friends.

The time to act is now. Legacy is not just what we leave behind—it’s what we stand for while we’re still here.