Generation X is embracing the concept of « retiring backwards, » returning to the hobbies of their youth rather than planning new activities as baby boomers did. This generation is approaching retirement with roughly one-third of the savings baby boomers had at the same age, without a pension safety net since only 14% have access to one compared to over 50% for the previous generation. The Schroders survey reveals a gap of nearly $460,000 between what Gen X needs to save and what they expect to actually have, while the Alliance for Lifetime Income reports median savings of just $6,000 for women and $13,000 for men. Nearly 56% of Gen X investors financially support both aging parents and adult children simultaneously, making them the « sandwich generation » that purchases multigenerational homes at the highest rate of any generation.
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