The Next Generation to Worry About Retirement
Right now, most of the talk is centered on Baby Boomers when discussing retirement. Generation X is also feeling the pressure. The Great Recession hit Baby Boomers hard, with many having to dip in to savings to stay afloat, but Generation X is feeling it even more as it compounds on many other unfortunate events in their careers. Gen X has had bad timing from the start, since while many were starting their careers, there was a change in how retirement plans were being dealt with. Pensions were being phased out and 401(k)s were just beginning, leaving many in a weird in-between phase. As a result, many among Gen X have significantly lower savings than other generations at the same age. For more information visit this article by Mark Huffman with Consumer Affairs.