Divorce and COVID-related deaths of parents may be reducing the risk that members of Generation X will have to provide care for aging relatives, but Gen X consumers are terrified about what inflation could do to their ability to pay post-retirement bills.
Analysts at Allianz Life have compiled data about how Gen X consumers see threats to their retirement security in a batch of survey data supporting a new retirement income study.
The survey sample included about 1,000 U.S. people ages 25 and older, with a minimum household income of $50,000 for single people or $75,000 for married or partnered people, or a minimum of $150,000 in investable assets.The Gen X consumers in the sample ranged in age from 44 to 59. In 2025, the oldest, Gen X consumers will start to turn 60.
The survey results show that Gen X consumers are about as interested in protection against income taxes and longevity risk as other consumers, but that they may be even more frightened by inflation, and more interested in investment strategies and product features that can protect their nest eggs' purchasing power.
For a look at what's haunting Gen X consumers now, and how their fears differ from those expressed by all survey participants, see the gallery above.
(Credit: Adobe Stock)
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