An increasing percentage of Generation X, born between 1965 and 1980, don’t believe they will be able to retire, found a survey from Natixis Investment Managers, with nearly a quarter saying they won’t retire and 44% saying it will take a “miracle” for them to retire comfortably.
According to the survey findings, Gen X investors have a median household income with a median retirement savings of $250,000. Nearly half of those surveyed said they accept that they will have to work longer than planned; however, many in the generation want to retire at age 60, but expect a retirement period of 20 years. Generation X also reports feeling much less financial security than baby boomers or millennials, according to another retirement study released last week by insurance company Allianz.
This generation is “sandwiched between baby boomers and millennials, and they’ve been overlooked,” said Dave Goodsell, executive director of the Natixis Center for Investor Insights, in a press release. “Now many find themselves caring for both aging parents and growing children while under pressure to fund their retirement.”
