George Kamel, financial expert from Ramsey Solutions, between Americans working in retirement age and provides advice to investors.
As Generation X Continue to get closer to retirement, some have less than rose opinions on their retirement prospects, according to a recently published study not published by Fidelity Investments.
Loyalty investments found in the Latest edition Among his annual study of “the state of retirement planning” only 45% of the Gen Xers – those between 44 and 59 years old – declared having estimated that they were not “confident” in their ability to retire “when and how they wish”.
Meanwhile, 53% were convinced to do so.
A person puts money in a retirement savings pot. (Istock / Istock)
“Gen X is most likely to be what we call the generation of sandwich at the moment”, vice-president of retirement offers from Fidelity Investments Rita Assaf told Fox Business. “They take care of both aging children and parents, as well as retirement preparation. It is quite expensive.”
“They are also at a time when the cost of living higher, so if they help with children, they probably have children at university or maybe they just finished university, and these costs were much higher,” she continued. “Their daily expenses are much higher. And we also know with aging parents, health costs and long -term care costs associated with it.”
Assaf said that generation X was ready to be the first “generation 401 (K)” also led these figures.
“Current retirees mainly use fixed pensions as the main way to finance their retirement economies, but generation X, I think that our study revealed that 61% would hold 401 (K) and IRA and individual retirement savings vehicles, so it is also a big difference,” she noted.
401 (K) The sales reached the second higher recorded: Fidelity
Compared to last year's study, the confidence of generation X in retirement “when and how they want to” lower 16 percent points retirement age.
She said that the investigation “really stressed the fact that with a higher cost of living, there is a little general concern that” will my retirement economy last “?”
According to Fidelity Investments, Gen X “holds in particular the most negative retirement prospects” among the four generations included in the study.
The study revealed that generation Z and generation Y felt the most confident to retire “according to their own conditions”, at 75% and 71%, respectively. Meanwhile, 68% of baby boomers said they were confident.
For generation X, juggle children, aging parents and higher life costs have played in this area. Assaf also said that “anxiety tends to increase as you approach” retirement.
The young generations like Gen Z and the Millennials “still have a long horizon of time, they therefore actually feel more confident” and “have more time on their hands to save more and invest and harvest the advantages of composed profits”, according to Assaf.
Overall, 67% of those their years of retirement planning I felt positively when it was a question of retiring “when and how they wish,” said Fidelity Investments.
The study was based on a survey involving more than 2,000 “financial decision -makers for adults” with a minimum of an investment account.
According to retirement, the inflation and high costs of life, conclude the balance of coverage expenses in relation to the retirement economy and to determine the amount of the funds necessary for retirement were among the problems identified as those who pose the most challenge, according to the study.
Close -up of a senior man calculating invoices at home. (Istock / Istock)
Meanwhile, among current retirees, the golden years “went as expected” for 72%, the study reported. A similar part – 70% – also estimated that their retirement planning had created them sufficiently.
The study shows how long social security, 1.5 million dollars of eggs would last in 50 states
With regard to retirement income, 77% of retirees highlighted Social Security as their highest source, according to the study. Behind that, there were pensions, at 48%, and personal savings, at 41%.
A retired couple walks in their arms on the beach. (Annette Riedl / Picture Alliance via Getty Images / Getty Images)
“Planning does not stop retired,” Assaf told Fox Business. “You must continue to evolve Your planningEven when you are retired. “”
The economy of seven out of 10 retirees fired the cost of living, said the investigation.
The Transamerica retirement studies center found in a August 2024 report that the median retirement age for middle -class retirees was 62.
Americans think that $ 1.46 million is the amount of money to experience a comfortable retirement, according to a study published by Northwestern Mutual last year.
