Well, the article didn't give a break down of Gen X saving rates, but it states that only a forth of Boomers are prepared and a forth will likely be destitute. The other half is iffy.
"Well, the article didn't give a break down of Gen X saving rates, but it states that only a forth of Boomers are prepared and a forth will likely be destitute. The other half is iffy."
Yeah, that sounds about right. Now, go see what the Gen Xers are doing. I have them living all around me, and I don't see them putting money anywhere except into more toys for themselves and their kids.
They all seem to be in new cars, and have new boats and new strollers for their offspring, along with big screen TVs and all that stuff. Most of the ones I know also have "creative" mortgages on their McHouses, too.
Looks to me like the ones I see are spending about 110% of their earned income, based on my knowledge of what they do and the cost of things.
Yes, there are GenXers who are thinking ahead, but I doubt if it's more than the 25% of boomers who did.