Gen X: Forgotten Generation

As the nation enters the Peak 65® era, new research from the Alliance for Lifetime Income’s Retirement Income Institute reveals that Generation X is at the greatest risk of an unsecure retirement. Unlike Baby Boomers, most Gen-Xers have spent their working lives without traditional pensions, relying primarily on 401(k) plans while facing major financial headwinds, including multiple recessions, soaring education and housing costs, and ongoing caregiving responsibilities for both children and aging parents. These pressures have left many with insufficient savings and low confidence that their money will last through retirement.

The oldest Gen-Xers turn 65 in 2030, arriving at the cusp of retirement just as the Social Security trust fund faces a projected shortfall. Without action from Congress, benefits could be reduced by 23 percent, hitting this generation right as they transition out of the workforce. The report highlights the urgent need for expanded access to protected lifetime income solutions and policies that strengthen retirement security, ensuring Gen-Xers do not enter retirement at a disadvantage compared to the generations who came before them.  Read the Executive Summary here    Download the full paper here