A recent survey revealed that many Gen X Americans, born between 1965 and 1980, are underprepared for retirement. The Schroders’ 2023 U.S. Retirement Survey showed that this group estimates needing an average of $1,112,183 for comfortable retirement, but expects to have only $661,013, leaving a gap of half a million dollars.
This is the largest gap reported among all generations. Additionally, the survey highlighted that a surprising 45% of Gen X respondents have done no retirement planning.
Experts suggest this shortfall could be due to transitioning away from company pensions, increasing financial responsibility for their immediate families, and an uncertain future regarding Social Security.
My Take…
Geo arbitrage is one way to overcome the shortfall, move to a more economical destination.
For more details click on the link:
https://www.newsweek.com/gen-x-lack-retirement-funds-savings-1855086
