Will Generation X Be Able to Retire?

Will Generation X Be Able to Retire? Bulman Wealth

According to a study conducted by Investopedia, retirement is the top concern for Generation X. The survey revealed that even though many members of this generation consider themselves knowledgeable about their finances, they still worry about being prepared for retirement. Almost 25% of Gen X individuals are uncertain about their retirement plans and are not sure if and when they will be able to retire.[1]

The significance of these numbers lies in the fact that even though Gen X may have a general idea of what they should do to achieve the retirement they look forward to, they are uncertain about the methods they should use to achieve those goals. If you feel the same way, don’t be concerned because you’re not alone.

According to the study, many Gen X individuals anticipate relying on Social Security and/or 401(k) plans for their financial support in retirement. However, there is a growing worry that the Social Security funds may be unable to fulfill the total amount of benefits promised by the time most of Gen X expects to retire. This is especially troubling for those of Gen X who maybe experienced a financial roadblock and were counting on Social Security benefits to aid them during their retirement years.[2]

Even if you managed your finances prudently, you may still feel like you haven’t saved enough to retire. In such a situation, what measures can you take, and how do you know if you’ll have enough?

It is important to create a precise budget that accounts for all your expenses. This will enable you to have an idea of how much money you will need each month and allow you to compare it with your retirement savings.

It is advisable to read and learn about retirement and explore the various options available to you. The more you learn, the more confidence you will have about your retirement plan.

Ultimately, seeking the assistance of a financial professional can help illuminate the steps you need to take to hit your financial goals, and they can help you navigate the complex terminology and potential pitfalls associated with the transition to retirement.

By seeking a financial advisor, you may realize that you are better prepared for retirement than you initially thought, or they may help you come up with a plan to improve your financial situation. If you’re seeking professional advice for retirement planning, feel free to Click HERE to reach out to us today at Bulman Wealth Group for a complimentary review of your financial situation.



All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or an indication of future results.

Opinions expressed herein are solely those of Chris Bulman Inc. dba Bulman Wealth Group and our editorial staff. The information contained in this material has been derived from sources believed to be reliable but is not guaranteed as to accuracy and completeness and does not purport to be a complete analysis of the materials discussed. All information and ideas should be discussed in detail with your individual advisor prior to implementation. Investment advisory services are offered through Chris Bulman Inc dba Bulman Wealth Group, an SEC Registered Investment Advisor. Insurance products and services are offered through Chris Bulman, Inc. dba BWG Insurance Agency and Ameritas Life Insurance Corp., CA State Insurance License # 0M46922. Being registered as an investment advisor does not imply a certain level of skill or training.

Bulman Wealth Group, BWG Insurance Agency and Ameritas Life Insurance Corp. are not affiliated with or endorsed by the Social Security Administration or any other government agency.

Any statements or opinions expressed should in no way be construed or interpreted as a solicitation to sell, or offer to sell, advisory services to any residents of any State other than the States where otherwise legally permitted.

Images and photographs are included for the sole purpose of visually enhancing the website. None of them are photographs of current or former Clients. They should not be construed as an endorsement or testimonial from any of the persons in the photograph.

Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital.

Share this post with a friend or family member!


Archived Blog Posts