Generation X Faces Retirement Challenges Amid Financial Struggles

• 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