Reported 11 months ago
Gen Xers are nearing retirement age but are facing challenges in saving enough money, with many having only saved around 10% of the recommended amount. Studies show that the average savings of Gen X households is significantly lower than what is advised for a comfortable retirement, with factors like lack of pension plans, economic crises, stagnant wages, rising costs, and financial responsibilities for adult children and parents contributing to the shortfall. Gen Xers are aware of their financial shortcomings and are the generation most concerned about being financially unprepared for retirement.
Source: YAHOO