Gen X Retirement Planning: Views and Strategies

In response to: “No doubt some assumptions are made about the ‘slacker’ generation’s retirement planning which may or may not be true. What’s the reality of the situation?” Slackerism alone doesn’t explain why Gen Xers are unprepared for retirement. Another characteristic about Generation X is a phobia for the conventional and a preference for the alternative. Even punk rock in the 90s was labeled “Alternative Rock” so as to be more brand friendly for Gen Xers. Stocks and bonds (collectively securities) have a history of being safe and effective long-term investments, but they are glaringly traditional. Gen Xers were often drawn towards risky and unsound alternative investments such as: penny stocks, forex trading, crypto, house flipping, and even some stock option strategies. For the generation that revolutionized extreme sports, these additional risks were never much of a concern. However, prudent retirement investing requires time, and Gen Xers on the cusp of retirement don’t have much left.”