Why Gen X Is Losing the 401(k) Game — and How To Turn It Around, According to Jean Chatzky

Generation X isn’t acceptable to discontinue — astatine slightest financially speaking. Born betwixt 1965 and 1980 — Gen Xers presently scope successful property from 45 to 60 years old.

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While the younger members of this procreation apt inactive person a mates of decades until retirement, the older members are nearing their aureate years. As of 2025, the mean status property for women is 62.6 years old, portion the mean property for men is 64.6 years old, according to the Center for Retirement Research astatine Boston College. Keep speechmaking to find retired wherefore Gen Xers aren’t redeeming capable successful their 401(k) plans and however to marque affirmative changes to hole for retirement.

Unfortunately, lone 14% of Gen X feels financially prepared for retirement, according to the 2024 Schroders U.S. Retirement Survey. Members of this procreation deliberation they volition request $1,069,746 to discontinue comfortably, but lone expect to person $602,944 saved — leaving a $466,802 shortfall.

Thankfully, it’s not excessively precocious to crook things around. A caller occurrence of the HerMoney podcast with Jean Chatzy featured a treatment with Yahoo Finance elder columnist Kerry Hannon, co-author of “Retirement Bites: A Gen X Guide to Securing Your Financial Future.”

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Gen X has faced a assortment of obstacles that person kept galore from consistently redeeming for status — oregon astatine slightest redeeming arsenic overmuch arsenic needed.

“You could reason that the likelihood were stacked against Gen X from the start,” Chatzky said. “Traditional pensions mostly disappeared close arsenic we entered the workforce.”

She noted that 401(k) plans didn’t go commonplace until years aft Gen X entered the workplace. Add to this the economical challenges this procreation has faced, including the tech bubble, the Great Recession and the COVID-19 pandemic, which further disrupted its quality to prevention for status during cardinal earning years, she said.

Additionally, Hannon said that nary 1 gave Gen X fiscal acquisition to assistance them cognize what to put in. Plus, determination weren’t arsenic galore concern options to statesman with, and astatine the clip 401(k) concern limits were little than they are today. All together, it feels similar the platform was stacked beauteous precocious against Gen X ever gathering up capable income to grip the ostentation of the 2020s.

When it comes to redeeming money, mindset plays a ample role. Hannon recommended practicing the HOVER method — hope, optimism, value, enthusiasm and resilience.