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 finance, social security, 401(k) plans, baby boomers, individual retirement accounts, retirement planning, generation y, investment strategy, generation x, roth 401(k) plans, allianz se, breaking news: investing, business news,