The survey indicates that more than half of Gen X members believe their retirement savings fall short of expert recommendations, highlighting a significant financial gap as they approach retirement.
Kamilah Williams-Kemp underscores the importance of proactive planning, stating, 'The difference between retiring on time and feeling comfortable or working longer...will come down to financial planning.'
As members of Generation X prepare to turn 60, the study reveals that a substantial number lack adequate retirement savings, with many needing to adjust their financial expectations.
According to the 2024 Planning & Progress Study, only 36% of Gen Xers have planned for long-term care costs, signaling a critical gap in their financial preparedness.
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