Credit: Hyejin Kang/Adobe Stock
For the first time in years, members of Gen X reported slightly worse financial wellness than Gen Z, potentially due to concerns around inflation and economic uncertainty, in a new Guardian's Mind, Body, and Wallet 2024 report. This may be because Gen X, some of whom will reach age 60 next year, is the generation approaching retirement, and during a time of high inflation and economic uncertainty, they’re concerned about saving enough as they approach that milestone, according to Guardian.
A mere 27% of Gen X reported good financial health, lower than the already low average of 32%. So it makes sense then that Gen Xers are more worried about retirement-related concerns, including having a guaranteed source of income in retirement (51%, vs. 46% of Gen Z) and having retirement savings last as long as they need (52% vs. 41% of Gen Z). The latter concern is particularly pronounced in today’s high inflation environment, as someone’s savings to-date might not last as long as originally anticipated.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
