Gen x dating site
12-Jan-2020 00:00
The survey was an online poll was conducted through April 9-13 among 4,638 adults in the United States.
Compared to retiring baby boomers, so many of whom are racing to beat the clock to save for their golden years, Gen X has an edge in this regard.
More than half (52 percent) guess at their retirement savings needs, and often they guess too low.
The median amount of savings that Gen Xers reported they’d need is 0,000.
More than half either believe their standard of living will decrease in retirement, or aren’t sure what will happen with it.
While this might look like bad news, actually it’s by trading some of their material standard of living for their retirement freedom.
More than three-fourths (77 percent) of survey respondents said they’re saving for retirement in an employer-sponsored retirement plan or outside of work.
What needs improvement The median amount of retirement savings reported by Gen Xers is ,000, which won’t come anywhere close to funding an adequate retirement.This entails preparing realistic estimates of their retirement needs and developing a savings strategy to meet their goals.Unfortunately, 40 percent of Gen Xers have no strategy for their retirement, and another 44 percent have a strategy that isn’t written down.Let’s take a look at what Transamerica found that’s working -- and what needs improvement -- regarding Gen X retirement planning.
What’s working, many working Gen Xers have heard and acted on the message that they need to save for retirement.
Millennials are far less confident in fiscal responsibility than the Greatest Generation, as 56 percent of millennials said they are 'extremely' or 'very' responsible in how they manage their money, compared with 80 percent of those older than 70The survey also asked how people believed current affairs could be improved.'Remove all old government officials and term limits for the House and Congress,' a 34-year-old male Republican said. However, people in the Greatest Generation live on fixed, retired incomes.
