>> In 1989, when baby boomers were around the same age as millennials are today, they controlled 21% of the nation’s wealth. That’s almost five times as much as what millennials own today.

This doesn't seem to document OPs claim of mililians owning 1/6 of what their parents did.

When the boomers were 30 there people didn't live as long, so there were fewer old people to own things.

I'd like to know how much milinials own in absolute terms compared to the boomers.