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Generation X Can Retire Successfully but They Have Work to Do


“Many members of Generation X, who are now in their 40s and 50s, were hit harder by the Great Recession.  They are still catching up financially. This so-called Sandwich Generation also faces challenges in getting ahead financially, while caring for their parents and children.”

Generation Xers, whose retirement funds are lagging, can still catch up, according to an article from CNBC,“What Generation X Needs to focus on to retire successfully.”However, they will need a reality check, if they expect to make any significant inroads.

Members of Generation X, who were born between 1965–1978, are now entering their middle years and are more likely than boomers or millennials to feel that they may never recover.

At the same time, that they are getting their careers in order, they are busy caring for aging parents and saving for their kid’s college funds. No wonder they’re behind on retirement savings.

A survey from money manager Personal Capital found that more than 34% of Gen Xers have no retirement savings set aside at all.

As the youngest turn 40 and the oldest now in their early 50s, they do have time to catch up.  However, they need to act decisively and act now. There’s no time for waffling.

Start by figuring out your current financial status. What’s your net worth and how much do you spend on a regular basis? List your assets and debts, then figure out how much money is coming into the household and how much is going out. You most likely will need to make some changes.

Define your retirement goals. It’s much easier to reach goals, if you know what they are. Do you need $1 million to retire and continue your current lifestyle? You may need to consider shrinking your spending, extend your working years or shift your retirement expectations.

One hard choice ahead? It’s possible you may need to limit how much of your children’s college costs you can carry. You and your children can take out loans to pay for college.  However, you’ll be hard pressed to find many loans for retirement.

Reference: CNBC (July 9, 2018) “What Generation X Needs to focus on to retire successfully,”

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