Nearly half of Generation X is not confident about retirement, survey finds

45% of Gen Xers reported they were 'not confident' in their ability to retire 'when and how they want,' according to Fidelity Investments.

Nearly Half of Generation X Lacks Confidence in Retirement, Survey Finds

A recent survey by Fidelity Investments reveals that 45% of Generation X—those born between 1965 and 1980—are "not confident" about their ability to retire when and how they want. This growing concern highlights the financial pressures facing a generation caught between supporting aging parents, funding their children’s education, and preparing for their own retirement.

Why Gen X is Struggling with Retirement Confidence

1. Sandwich Generation Pressures

Many Gen Xers are part of the "sandwich generation," simultaneously caring for elderly parents while supporting their own children. This dual responsibility strains finances, leaving less room for retirement savings.

2. Inadequate Savings

According to Fidelity, many Gen Xers haven’t saved enough to maintain their desired lifestyle in retirement. Market volatility, unexpected expenses, and late starts in retirement planning have contributed to this shortfall.

3. Rising Costs and Economic Uncertainty

Inflation, healthcare expenses, and housing costs continue to rise, making it harder for Gen Xers to project a stable financial future. Many worry that Social Security may not provide sufficient support.

4. Student Debt and Other Financial Burdens

Unlike previous generations, many Gen Xers are still paying off student loans—either their own or their children’s—further delaying retirement contributions.

What Can Gen Xers Do to Improve Their Outlook?

Fidelity suggests several steps to boost retirement readiness:

• Increase Retirement Contributions – Even small increases in 401(k) or IRA contributions can compound over time.

• Reassess Investment Strategies – Adjusting portfolios to balance growth and risk can help maximize returns.

• Plan for Healthcare Costs – Setting aside funds for medical expenses can prevent future financial strain.

• Seek Professional Advice – A financial advisor can help create a tailored retirement strategy.

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The Bottom Line

With retirement approaching, nearly half of Gen X feels unprepared. However, proactive planning, disciplined saving, and smart investing can help bridge the gap. The time to act is now—before it’s too late.