Compared to previous generations, the 65 million members of Gen X are facing an especially daunting task of building their retirement savings, and many are woefully underprepared. To make up for lost time, employers can help them maximize the savings opportunities they still have, and budget properly once they leave the workforce.
Only one-third of employees ages 43-58 have a retirement strategy in place, and 35% have less than $10,000 set aside for their retirement, according to a recent survey by Prudential. Not surprisingly, 82% of Gen Xers said they are not confident they will be able to fully retire, or already anticipate working part-time once they leave their jobs.
