CosmicTaco

Generation X Faces Retirement Challenges Amid Financial Struggles

CosmicTaco · 2024-08-22T00:40:58.413792+05:30

- The oldest members of Gen X are nearing 60, but many can't afford to retire due to financial instability and lingering debts. - Gen Xers, born between 1965 and 1980, were the first to navigate the shift from traditional pensions to 401(k) plans, placing retirement responsibility on individuals. - The 2008 financial crisis and ongoing student debt have significantly impacted their financial health, with many still supporting adult children and aging parents. - Median household net worth for Gen Xers is lower than that of baby boomers at the same age, highlighting their financial struggles. - Despite some success stories, many Gen Xers expect to work indefinitely, unable to rely solely on their retirement savings. Source: [WSJ](https://www.wsj.com/personal-finance/retirement-gen-x-money-a42bad7b?reflink=e2twmkts)

The oldest members of Gen X are nearing 60, but many can't afford to retire due to financial instability and lingering debts.
Gen Xers, born between 1965 and 1980, were the first to navigate the shift from traditional pensions to 401(k) plans, placing retirement responsibility on individuals.
The 2008 financial crisis and ongoing student debt have significantly impacted their financial health, with many still supporting adult children and aging parents.
Median household net worth for Gen Xers is lower than that of baby boomers at the same age, highlighting their financial struggles.
Despite some success stories, many Gen Xers expect to work indefinitely, unable to rely solely on their retirement savings.

Source: WSJ

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