It's true. But I think the point is that more opportunities were available to that generation. For example, both my boomer parents grew up in poverty. Dad was an orphan. They moved to the city with no money and made careers for themselves. Housing was cheap. That's not possible today without family wealth (in Australia at least). I'm a software engineer with an electrical engineering degree and I'll never own a house or retire. They bought houses on public service wages without degrees.