20 June 2023
Gen Xers are facing a retirement crisis, with 56% having less than $100,000 saved and 22% having no savings at all. Factors like economic challenges, student loan debt, and the housing crisis have hindered their ability to save. Inflation has further impacted their retirement plans, and the majority carry significant debt. It’s crucial for Gen Xers to start saving, prioritize debt repayment, cut expenses, and consider investment options. Taking action now can improve their retirement prospects and reduce reliance on government programs.