Nearly half of Gen X say they'll need a miracle to retire, study finds

I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

parents really need to start talking to their kids about money at an early age and not make it a taboo subject

My husband and I start way too many sentences with “if we win the lottery…” 😂

I'm happy I'll be retiring this year, with about $500k, but I'm afraid my portfolio will not sustain a long retirement. The funds are likely to be depleted by expenses faster than my portfolio can recover through compounding returns

Proud Gen Xer here Too many people not thinking about paying their future selves. I’m 53, married 23 years, two teens. The wife and I have always contributed something to our 401ks. The past ten years we’ve been slowly increasing contributions. We’ve picked up some mutual funds along the way. We dollar cost average invest in those. Stayed in the same 3 bedroom 2.5 bath house for twenty years. Don’t buy new cars and take modest vacations every year. Six months emergency fund saved. Use cash back credit cards for everything (pay off in full every month. The bank pays me!) Current net worth 1.7M. We will be retiring at 59 1/2. Never underestimate the power of compounding interest. The time to start investing is today no matter how little or how much you can contribute. You must start now.

When Mike + The Mechanics sang "All I need is a miracle, all I need is you", I never thought they meant retirement!

I love when these very wealthy people pretend that they won’t be able to retire comfortably 😂

My Boomer parents had a pension and Social Security for their retirement, and couldn’t teach me anything about IRAs or 401ks, since they had no experience with them. And my public school education during “Home Economics” only covered savings and checking accounts. We GenXer’s had to learn everything on our own, before easy access to information via the web like current younger generations. I remember buying Jane Bryant Quinn’s big book at a book store and subscribing to Money magazine to try to educate myself. Then we had the SP500 peak early in our careers in 2001 and not to hit that level again until 14 years later, so investors my age didn’t see big growth in retirement accounts until after 2014. It has been a heck of a ride and test of patience for Gen Xer’s!

My neighbor the other day talking about how this inflation is affecting the renovation of his cottage in Maine... Me: I was able to buy a pack of hand towels instead of the single ones this week.

I’m Gen X, and I remember being in high school and hearing that Social Security would not be around when I retired. It scared me to death, financially speaking. I read as much as I could about retirement plans and how they work. And then started investing as much as I could into a 401(k) starting at age 23. I had arguments with friends and family who wondered why I invested so much instead of just spending it and having fun. I’m happy to say that I’m in my late 40s and already have enough to retire on, but I plan on working about 10 more years so that I can leave a sizable inheritance for my three kids. My wife and I are taken care of, now it’s about the next generation.

I wish that these studies would be realistic. What middle class American will ever have 1.5 million saved for retirement? I think these reports have most people asking themselves why to even try.

As a young Gen Xer, I have always lived below my means, saved the excess and never had consumer debt and will be retired at 50. I played the long game early in my life and am ready to retire soon.

As a Gen X’er I prefer the Media and everyone to forgot about us , This is has been The status quo for decades and there’s no need to change. Now Get Off My Lawn.

My dad is 63 and retired earlier this year. He has about $400k to live off of for the rest of his life. He lives in a small town and the cost of living is very low, but it's still not a lot of money to depend on for the rest of your days.

Young adults need to understand they MUST “pay themselves first” and automatically save

I love how they make it look it will only happen with genX.

Hard to save for retirement when 2/3 of Americans are living paycheck-to-paycheck.

Luckily, not the case for me. I listened to Dave Ramsey, and I am debt free in a paid for house and well on my way to financial freedom. If I can do it, so can anyone else. Majority of people are living beyond their means even if they think they aren’t.

"My life's transformation still astonishes me! From a modest lifestyle to earning over 78k monthly from investing in the financial market, I'm grateful for this incredible journey. My hard work, determination, and wise financial decisions made this possible. I'm living proof that dreams can become reality!"

I'm on track to retire. I'll be worth 1,000,000 when I'm 40. Born out of trailer park, no college too. Live below your means and invest.