Generation X: Small, Mighty… and Financially Insecure?
Generation X – a goldmine for marketers, yet still forgotten in many media plans. In fact, we recently touched on this in the first part of our audience blog and infographic series, focusing on the uncapped potential of this highly influential and impressive generation. Despite this influence, researchers are saying that this generation is concerned about money and will likely have a harder time reaching financial security than their parents. Could this be because many Gen X’ers are financially supporting both their Millennial children, as well as their Boomer parents? One thing’s for certain – this added responsibility has left Gen X’ers feeling financially insecure. When asked for their retirement number the median Gen X respondent said they need $1 million. Nearly a third said $2 million or more. The median figure for both Millennials and Baby Boomers was $800,000 with only 29% and 23%, respectively, saying they would need $2 million or more. Get their full take on retirement here>>