Stressed out woman holding her hand on her head

Gen X often gets overlooked between baby boomers and millennials, but when it comes to retirement, they’ve been dealt a tough hand. Born between the mid-1960s and early 1980s, this generation is facing challenges that make saving and planning harder than ever. Here are seven reasons Gen X may struggle more than any other group when it comes to retirement.

Pension Plans Disappeared Too Soon

401k paperwork sitting on desk with a pen
Image Credit: Garyphoto via Deposit Photos.

Many boomers had access to pensions that guaranteed monthly income after retirement. By the time Gen X entered the workforce, pensions were already disappearing. Instead, they were offered 401(k) plans that shifted responsibility to the worker. Without guaranteed income, Gen X has been left to carry all the risk themselves.

💸 Take Back Control of Your Finances in 2025 💸
Get Instant Access to our free mini course
5 DAYS TO A BETTER BUDGET

College Debt Hit at the Wrong Time

People in class raising hands
Image Credit: NewAfrica via Deposit Photos.

While millennials are often associated with student loan debt, Gen X was the first generation to face the sharp rise in tuition costs. Many are still paying off loans for their own education, and some even co-signed for their kids’ debt. That double burden cuts into retirement savings during crucial years.

The Great Recession Set Them Back

Man sitting in a chair leaning over looking stressed and upset
Image Credit: Hananeko_Studio via Shutterstock.

Gen Xers were in their prime earning years during the 2008 financial crisis. Many lost jobs, homes, or savings when markets crashed. While younger workers had more time to recover, Gen X was stuck trying to rebuild with retirement only a few decades away. The timing couldn’t have been worse.

Healthcare Costs Keep Rising

Doctor filling out paperwork
Image Credit: Sementsova321 via Deposit Photos.

Medical costs continue to climb, and Gen X is now at an age where healthcare is becoming a bigger expense. Unlike boomers, they’ll likely spend more years paying higher premiums and out-of-pocket expenses before Medicare kicks in. Those costs eat away at savings that should be going toward retirement.

Housing Isn’t the Safety Net it Once Was

Man signing papers to purchase a home
Image Credit: SuperOhMo via Shutterstock.

Boomers built wealth through homeownership, but Gen X entered the market when prices were high and interest rates volatile. Many are still paying mortgages well into their 50s. For some, home equity isn’t enough to provide the cushion that previous generations enjoyed. That leaves them with fewer assets to fall back on.

Retirement Age Keeps Moving

Wealthy retired couple standing in front of their mansion
Image Credit: Monkeybusiness via Deposit Photos.

Boomers could expect to retire around 65, but Gen X is being told to work longer. With Social Security benefits shifting later and fewer safety nets, many expect to work into their 70s. For a generation already worn down by economic downturns, the idea of delaying retirement adds even more stress.

Stuck Between Two Generations

Young woman taking money from her mom's wallet
Image Credit: BearFotos via Shutterstock.

Gen X is often caught in the middle; caring for aging parents while also supporting children who are struggling financially. This “sandwich generation” role drains both time and money. Instead of putting everything toward retirement, they’re spreading resources across family needs. It leaves little left to secure their own future.

Retirement Feels Out of Reach

Old man holding a bunch of hundred dollar bills
Image Credit: Efurorstudio via Deposit Photos.

Gen X was hit by disappearing pensions, economic crashes, and rising costs at the worst possible times. They’ve shouldered financial responsibilities that stretched them thin, leaving retirement savings far behind where they need to be. Unless major changes happen, this generation could face the harshest retirement reality yet.

11 Surprising Perks Retirees Are Overlooking Right Now

Beautiful older woman closeup
Image Credit: Dianestockimages via Shutterstock.

Retirement often brings routine, but there are plenty of opportunities worth taking advantage of. From discounts to surprise travel offers, retirees have access to many benefits if they know where to find them. These little-known perks can save money and add more enjoyment to your retirement years. 11 Surprising Perks Retirees Are Overlooking Right Now