Gen X Retirement Wake-Up Call: Debt, Kids, Aging Parents & The Future of Social Security

Gen X is officially in the retirement danger zone — and many are worried about outliving their savings. In this episode of Friends Talk Money, Richard Eisenberg, Terry Savage, and I sit down with author and workplace/retirement expert Kerry Hannon to dig into the findings from her new book, Retirement Bites: A Gen X Guide to Securing Your Financial Future.

We explore:

• Why more than half of Gen X fears they won’t be financially ready
• How DIY retirement planning, disappearing pensions & late savings habits created a perfect storm
• The crushing impact of student loans, credit card debt & supporting both kids and aging parents
• Why so few Gen Xers work with a financial advisor — and how to find the right kind of help
• The truth about Social Security’s future for Gen X
• Health costs, layoffs, age discrimination — and how to stay employable into your 50s and 60s
• The new definition of “retirement” and why working longer can be a superpower
•  Plus: What Gen Xers can control right now to course-correct

Kerry also breaks down the huge differences between older Gen Xers nearing 60 and younger Gen Xers in their late 40s, including who may benefit from the next major wealth transfer. Whether you're a lifelong DIY investor or navigating retirement planning for the first time, this episode is a must-listen for the most overlooked generation in personal finance.

Links:

• Retirement Bites: A Gen X Guide to Securing Your Financial Future (Amazon)
• Reality Bites: Gen X is Nearing Retirement and More than Half Don't Believe They'll be Financially Ready When the Time Comes (Northwestern Mutual)
• Portfolio Perspectives: Gen X Isn’t Ready for Retirement – How Financial Advisors Can Help and Harness SECURE 2.0 (Dynamic Advisor Solutions)
• Gen X Nearing Retirement With Worries About Limited Savings, Allianz Life Study Finds (Allianz)
• Gen X’s Retirement Shock: The Truth About Healthcare Costs (Friends Talk Money) 
• Why Retirement Doesn't Need to Bite for Gen X (Next Avenue)

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