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As retirement looms, many Gen Xers are still playing catch-up - TL;DR CNBC

As retirement looms, many Gen Xers are still playing catch-up

Publishing timestamp: 2024-06-20 11:04:59


Summary

Generation X is feeling unprepared for retirement, with nearly half fearing they won't have enough money to enjoy their golden years. Many are part of the "sandwich generation," caring for both elderly parents and adult children. The pressure of retirement saving is on, especially for those facing financial burdens. Financial planners suggest maximizing savings through tax-advantaged accounts and catch-up contributions for those over 50. However, for those without much extra cash flow, it may be challenging to make up for lost time.


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Keywords: personal financesocial security401(k) plansbaby boomersindividual retirement accountsretirement planninggeneration yinvestment strategygeneration xroth 401(k) plansallianz sebreaking news: investingbusiness news

Source: https://www.cnbc.com/2024/06/20/how-gen-x-can-prepare-for-retirement-through-401ks-iras-social-security.html


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