The Great Wealth Transfer and Generation X
For many members of Generation X, those born between 1965 and 1980, a comfortable retirement may feel like an increasingly distant dream. Despite being in their prime earning years, a significant number of this generation are facing a retirement savings crisis. With a potential lack of assistance from the upcoming Great Wealth Transfer, the outlook seems concerning.
According to a recent study conducted by Prudential, over a third of Gen Xers surveyed have less than $10,000 in retirement savings, with 18% having no savings at all. These numbers paint a sobering picture of the retirement readiness of this generation.