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What Gen Xers Think About Retirement and Social Security
The population cohort following on the heels of the Baby Boomers—labeled Gen X—will begin reaching Social Security eligibility next year. Given Social Security’s looming insolvency and the projections for either a benefit cut in six years or a substantial reshuffling of the rules, what are the current viewpoints of Gen Xers on retirement? That’s the subject of an article by MoneyWatch Associate Managing Editor Aimee Picchi posted on CBS News, and it’s perhaps best framed by this quote: “I will likely be working in retirement.”
Ms. Picchi discusses the plight of Gen Xers–those born between 1965 and 1980 and now in the 46-to-61 age range–noting that the shift away from company-sponsored pension plans has turned the fabled “three-legged stool” of retirement finances into a “two-legged stool.” This shift has placed greater emphasis on private savings to make up the difference, leading many to expect to continue working in their senior years. Overall, an insightful look at what’s facing the estimated 65 million Gen Xers in the years ahead. Click here to read it in full.