If you haven't started saving for retirement in your 40s, there's still hope - but you need to follow these steps

Gen X, born between 1965 and 1980, is facing daunting retirement challenges, with 40% having no savings and a heavy burden of debt.

A 2022 study revealed 80% of Gen Xers feel knowledgeable about finance, yet only 55% believe they can afford to retire comfortably.

With an average household debt of $157,556, Gen X struggles due to mortgage payments, raising kids, and the aftermath of the Great Recession.

The Great Recession set Gen X back, costing individuals around $70,000 in lifetime income, leaving many financially unprepared for retirement.

Read at 24/7 Wall St.