GenX Are a Retirement Time Bomb for the American Economy

It’s back to the future for GenX, and some can’t believe how their lives turned out.GenX are a Retirement Time Bomb for the American Economy
Retirement savings bleak for Generation X, the cohort older than Millennials
The cohort that withstood the harshest consequences of the great recession of 2008 also have poor savings for retirement. Almost half of Gen X respondents, defined as ages 38 to 53, said they have no money saved in a retirement account.Curiously, the Gen Xers were the least likely generation to say they would save or invest an extra $1,000, instead using it to pay outstanding bills and debt. GenX Debt is too High to Make up the Difference
A third of workers ages 40 to 59 in middle-income households say hacking away at their debt is their top savings focus this year, ahead of fattening up their retirement accounts, a new report shows.

Source: medium.com