Almost half of Generation X — Americans aged 44 to 59 — are entering their peak earning years without any retirement plan in place and only 14% believe they’ve saved enough to retire securely, according to a new study from Schroders. Even though they estimate a comfortable retirement requires around $1.07 million, the average Gen Xer expects to fall short by roughly $467,000.
Key takeaways
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- Generation X faces an average retirement savings shortfall of about $467,000.
- Financial professionals can effectively address this gap with catch-up contributions, tailored retirement income planning, and strategic Social Security guidance.
- Holistic financial wellness programs enhance retirement outcomes, creating enduring client relationships and opportunities for business growth.
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