Nearly half of U.S. workers aged 55-65 have no retirement savings, while the average Gen Xer holds just $215K, raising concerns over financial preparedness.
A new analysis reveals 40% of U.S. workers aged 55 to 65 lack any retirement account, while the average Gen Xer has saved only $215K. The findings highlight growing financial strain as this generation nears retirement age with limited time to recover savings gaps.
Gen Xers, born between 1965 and 1980, face unique economic challenges, including the dot-com crash, the Great Recession, and persistent inflation. Many also juggle mortgages, childcare costs, and expenses for aging parents, earning them the label “sandwich generation.”
Unlike previous generations, Gen X relies heavily on defined-contribution plans rather than traditional pensions, increasing individual risk. The data underscores broader concerns about retirement security amid shifting economic conditions.