Why Gen X is uniquely suited to handle bad retirement prospects

"Prudential warned us in 2023 that more than a third of Gen Xers had less than $10k in retirement savings. In 2024, Natixis Investments found that 48% of Gen Xers said it would take a miracle for them to retire securely (up from only 41% of Generation X counting on divine intervention as of 2021). Even the much-lauded great wealth transfer-the $124 trillion in assets that baby boomers will pass along to their heirs by the year 2048-will largely skip over Gen X."

"While none of this is good news, Gen X has been preparing for this challenge our entire lives. As the generational "middle child," we Gen Xers have spent our lives quietly taking care of ourselves, figuring out new technology as it appeared, and basically getting on with it while everyone else bickered amongst themselves. Here's how the Gen X core competencies, which we've honed over decades, will allow us to seize a secure retirement from the jaws of financial instability."

"Not only did TV stations air guilt-tripping PSAs about what kinds of drug use we were up to while Mom was working late, but columnists also bemoaned the fate of lonely, frightened children coming home to empty houses. Meanwhile, educational, medical, and psychological journals found that the lack of supervision didn't seem to harm latchkey kids. Instead of falling into drug use à la Go Ask Alice, most of us learned to independently handle homework, chores, and"

Gen X faces significant retirement shortfalls, with more than a third holding less than $10k and 48% saying a miracle is needed for secure retirement. The projected $124 trillion baby boomer wealth transfer will largely benefit millennials, who are expected to inherit $46 trillion over the next 25 years. Gen Xers have developed practical self-reliance as a generational middle child, learning to handle responsibilities, adapt to new technology, and persevere quietly through instability. Those core competencies can be leveraged to pursue financial stability and a secure retirement despite systemic challenges.

Read at Fast Company