Gen Xers don't feel prepared for retirement
About 60% of employees who belong to Generation X reported being confident in their finances, while 65% of baby boomers, and 67% of millennials said the same. Pew Research Centeras Americans aged 39 to 54 in 2019, accounting for one-third of the overall workforce.
While employees of all generations name personal finances as their No. 1 stressor, Gen Xers on the whole fall short when it comes to savings, according to the MetLife survey, and it's contributing to their unhappiness at work. Just over half of Gen Xers report having three months worth of salary socked away — money that could be used as an emergency fund — compared to 60% of baby boomers and 58% of millennials. What's more, 48% of Gen Xers said they're living paycheck to paycheck.
Overall, Gen Xers appear fairly pessimistic about retirement, according to the MetLife survey, which found 55% of Gen Xers reported feeling either significantly or somewhat behind on their timeline. Overall, 18% of the cohort does not plan to retire at all. That's compared to 12% of baby boomers and 14% of millennials.Read more
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