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Friday, October 26, 2012

Gen X Was Clobbered By The Recession

Boomers and Gen X adults have swapped places on the retirement worry spectrum. 
While boomers' anxiety has waned over the last few years, a new study by the Pew Research Center found more than half of Gen X are “not too” or “not at all” confident about retirement. Just a third of boomers echoed the sentiment.
It's a far cry from a similar survey three years ago, when only 19 percent of Gen X respondents said they weren't confident about retirement. 
The reason is simple enough: Though much attention has been given to boomers whose nest eggs were pummeled by the recession, it was Gen X that saw their overall net worth fall the most. 
"The median net worth of [Gen X] has fallen at a far greater rate than for any other age group both in the past 10 years and since the beginning of the Great Recession," the report says.


1 comment:

Anonymous said...

Yep the Obama administration decided to put most of the burden on the youngsters. Screw them they won't know what's coming.