Gen X faces retirement crisis as Social Security looms as only income source

Millions of Generation X workers face financial insecurity in retirement, with some unable to afford basic living expenses and forced to continue working into old age.

A generation that came of age during one of the great quiet upheavals in American economic life — the disappearance of the pension — now stands at the threshold of retirement with a fraction of what they will need. Generation X, roughly 46 to 61 years old, inherited a system that asked them to become their own financial planners without the tools, wages, or guidance to do so. With median savings of $107,000 against an estimated need of $700,000, and Social Security itself facing a projected shortfall by 2032, the reckoning that was deferred for decades is arriving on schedule.

Gen X faces retirement crisis as Social Security looms as only income source

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