November 2024

Gen X slip between DB and DC pension cracks

The tail-off in defined benefit (DB) pension provision around the millennium and a lack of compulsion around defined contribution (DC) saving until 2012 has had a lasting impact according to Standard Life’s Retirement Voice report. • Majority of Gen X (54%) are worried their finances won’t cover their retirement – compared to 31% among Baby Boomers • 45% Gen X expect their living standard to be worse in retirement compared to 29% of Millennials • Gen X most likely...

October 2024

US. Here’s How Gen Xers Are Catching Up on Retirement Savings

Key Takeaways The oldest Gen Xers are already eligible to withdraw from retirement accounts penalty-free. Gen Xers are often underprepared for retirement but can improve by increasing savings and adjusting their budget. Unlike baby boomers with pensions, Gen X relies heavily on 401(k)s. During their highest earning years, Gen Xers can maximize retirement savings. Roth IRAs and 401(k)s can offer tax advantages for Gen Xers in retirement. Sandwiched between the more populous boomer generation and even more populous Millennials, Gen...

July 2024

Reality bites for Gen X retirement

The Slacker generation might have been slacking off when it came to planning for retirement: Gen X consistently ranks in surveys as the least-prepared group for when they stop earning. Why it matters: The first members of Gen X were born in January 1965, which means they turn 59½ this month and can start withdrawing money from 401(k) and other retirement accounts without paying a penalty. The big picture: As Gen Xers get older, they are getting increasingly worried about looming financial problems in...

June 2024

La Generación X no está lista para el retiro: el 40% no ha ahorrado en su jubilación

Las personas que están por cumplir 59 años y medio forman parte del grupo de edad conocido como Generación X. Este sector de la población de Estados Unidos están por llegar a la tan ansiada jubilación. Lamentablemente, la alegría pronto pasa a la preocupación luego de que un nuevo estudio encontró que el 40% de las personas en esas edades no tiene ningún centavo ahorrado para su jubilación. El Instituto Nacional de Seguridad de la Jubilación (NIRS) presentó un informe en el que...

US. Gen X is the least confident about retirement as ‘crunch time’ nears—and has done less to prepare than boomers or millennials

The cohort once derided as the “slacker generation” is about to start heading into retirement, and many Gen Xers aren’t feeling so optimistic about it after not doing as much to get ready. Only 62% of Gen Xers feel confident about “being able to financially support all the things they want to do in life,” according to Allianz Life Insurance’s 2024 annual retirement study. That’s well below baby boomers (82%) and millennials (77%). To be sure, the simple fact that Gen X...

April 2024

US. As Gen Xers Inch Toward Retirement, They’re Considering Where to Live

When they were raising their four children, Billy and Erin Shipley had space for their family to grow: a two-story, five-bedroom house in Sugar Land, Texas, with a large yard and a pool. But as the children became adults and moved out, the second floor was deserted and maintaining the lawn and pool became a burden. Like many members of Generation X facing an empty nest, the Shipleys decided to look for a home better suited to their needs where...

January 2024

US. 5 Gen Xers share what it’s really like to plan for retirement: ‘My generation is going to have a harder time than boomers’

The oldest Gen Xers, born in 1965, are just a few years away from traditional retirement age. But many don’t feel nearly ready enough for that next chapter. Fortune received hundreds of emails from Gen Xers who say they are worried about what the future holds in store for them and their retirement readiness. “I’ve followed my dreams, as my generation was told to do, but found that some dreams cost more to follow than others,” writes one Gen Xer. “My savings...