Gen Xers fret over the future of Social Security. "I will likely be working in retirement."

TL;DR

Generation X, aged 46-61, faces early retirement challenges with insufficient savings.
The shift from guaranteed pensions to employee-managed 401(k)s has left many without adequate retirement funds.
A projected Social Security funding shortfall in 2032 could reduce benefits for upcoming retirees.
Many Gen Xers expect Social Security to be their primary retirement income source, with 41% of those over 55 anticipating this.
Median savings for Gen X is $107,000, far below their estimated need of $700,000.
Factors like job losses, divorce, and the rising cost of living have further impacted retirement savings.
Some Gen Xers are delaying retirement and planning to work indefinitely, even past Social Security eligibility.
Newer legislation like SECURE 2.0 Act aims to bolster retirement savings, but many Gen Xers find it difficult to catch up.

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