Baby boomers’ average ISA savings now £56,620 each – five times that of the £12,000 saved by millennials

April 4, 2026

The average ISA held by a Baby Boomer is now £56,260, according to new data* from Bowmore Wealth Group, almost five times the £12,010 held by a typical Millennial.

However, even the ISA savings of Baby Boomers are put in the shade by those of the “Silent Generation,” those born before 1946, who have average ISA investments of £67,950.

One surprise is that the average value of ISA investments of Generation Z (Gen Z) at £8,690 are not that much lower than that of millennials. Bowmore says that this again raises the commonly asked question as to whether millennials have made sufficient savings.

Some argue that millennials have been unable to save as much as previous generations due to slow wage growth since the Global Financial Crisis and because they have had to pay higher housing costs.

John Clamp, Chartered Financial Planner at Bowmore Financial Planning, says: “The data highlights a clear generational divide when it comes to ISA savings. While older generations have benefited from decades of compounding and consistent contributions, younger investors appear to be falling behind at a crucial stage in their financial journeys.”

“Even relatively small, regular contributions can build significantly over time thanks to the tax advantages ISAs offer. For Millennials and Gen Z, engaging early with long-term saving and investing is key to narrowing this gap and improving financial resilience in the future.”

Investing capital in stocks and shares ISA offers better returns

For those with a higher risk tolerance, they can consider investing some of their capital into a stocks and shares ISA. In the long run stocks and shares consistently outperform cash savings in a cash ISA.

John Clamp adds: “The challenge for many investors is balancing short-term uncertainty with long-term opportunity. While holding cash can feel safer, it can also limit the growth potential of savings over time, particularly in an inflationary environment.”

“For those able to take a longer-term view, introducing investment exposure through an ISA can be a powerful way to build wealth more effectively, especially when combined with regular contributions and a disciplined approach.”

Table showing differences in average amount held in ISAs by generation