Lots of experts have been focused on baby boomers entering retirement at historic rates.<\/p>\n
However, according to a new data-driven analysis, the real crisis may soon be coming<\/a> \u2014 and it belongs to Gen X. GOBankingRates unpacks what this means for the aging generation, and what they can do about this upcoming retirement issue<\/a>.<\/p>\n According to a new paper from the Alliance for Lifetime Income\u2019s Retirement Income Institute<\/a>, 2025 marks the peak of the Peak 65 Zone \u2014 the largest wave of Americans turning 65 in history.<\/p>\n \u201cWhile baby boomers dominate headlines, Gen X faces an even greater retirement crisis<\/a>. With shrinking pensions, rising longevity and heavy caregiving burdens for parents and other family members, Gen X risks becoming the most financially vulnerable cohort to reach retirement,\u201d the report found.<\/p>\n \u201cIt\u2019s no wonder that our research shows that only 41% of Gen X are confident their money will last a lifetime, compared to 62% of baby boomers,\u201d said Cyrus Bamji, chief strategy and communications officer for the Alliance for Lifetime Income by LIMRA. \u201cAnd not surprisingly, 37% of Gen Xers plan to delay retirement because of financial concerns, significantly higher than boomers (19%).\u201d<\/p>\n Be Aware: Gen X Is Hoping To Retire Like Boomers \u2014 Here\u2019s Why They Can\u2019t<\/a><\/strong><\/p>\n Check Out: 5 Clever Ways Retirees Are Earning Up To $1K per Month From Home<\/a><\/strong><\/p>\n According to a retirement report by Bankrate<\/a>, 69% of Gen X workers reported being behind on their retirement savings, including nearly half (47%) who said they were significantly behind (more than any other generation).<\/p>\n What about the Social Security safety net?<\/p>\n \u201cThe oldest Gen-Xers turn 65 in 2030, just three years before the Social Security trust fund is projected to be depleted<\/a>,\u201d Bamji said. \u201cUnless Congress acts to fix this, Gen X will be the first to face around a 23% benefit cut in protected lifetime income, just as they begin to retire.\u201d<\/p>\n Further, according to Bamji, \u201cTo fill the protection gap that Social Security leaves, it\u2019s no surprise that Gen Xers said they\u2019re considerably more interested in the lifetime income protection that annuities provide compared to boomers.\u201d<\/p>\n Bamji added that the report highlights an urgent need for expanded access to protected lifetime income<\/a> solutions and policies that strengthen retirement security, ensuring Gen Xers don\u2019t enter retirement at a disadvantage compared to the generations who came before them.<\/p>\n More From GOBankingRates<\/strong><\/p>\n This article originally appeared on GOBankingRates.com<\/a>: Here\u2019s Who Should Really Be Worried About Social Security Cuts<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Lots of experts have been focused on baby boomers entering retirement at historic rates. However, according to a…\n","protected":false},"author":2,"featured_media":244764,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[177],"tags":[5580,79,18,5582,19,17,234,235,5229,1078],"class_list":{"0":"post-244763","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-baby-boomers","9":"tag-business","10":"tag-eire","11":"tag-gen-x","12":"tag-ie","13":"tag-ireland","14":"tag-personal-finance","15":"tag-personalfinance","16":"tag-retirement-income","17":"tag-social-security"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115759228040387271","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/244763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=244763"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/244763\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/244764"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=244763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=244763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=244763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}