5 Brutal Gen X Retirement Truths Most Advisors Won’t Tell You

Comments · 95

• PF

  @pf6112 · 3 weeks ago

  #3 "Your planned retirement date won't be something you pick." Yep.

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• MI

  @MikeHenkes-b6g · 3 weeks ago

  One of two things will happen with GenX either they will figure it out as they've been trained to do. Or, they will just shrug their shoulders and say, "It's really not that big of a deal."

  2

• TH

  @thebourbonengineer6903 · 3 weeks ago

  Erik, spot on and exactly what happened to our family.  Luckily (time perspective) I saw my parents go through similar decades ago and had a rough roadmap to prepare.  Thanks for what you are doing!!

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• AS

  @assumity · 3 weeks ago

  Unfortunately my generation spent most of what they earned in the last 30 years. They’ve waited until their 50s to try to save aggressively and stitch together some kind of retirement fund - not understanding that those supposed high-earning years in your 50s often get derailed by health issues, career obstacles, family troubles, or other financial concerns. Those of us who started saving and investing consistently in our young adult years - even though they were small dollar amounts early on - are the only ones that are truly prepared financially for a comfortable retirement. So many of my friends over the last 30 years chuckled derisively at me for living well below my means, as they drove expensive cars and bought nice boats and went on pricey family vacations to Hawaii. They’re not laughing now.

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• SC

  @ScruggsGA · 3 weeks ago

  Found your channel in the last few weeks. Lots of great insights and observations and no filler. Finally a channel not talking to me like I'm both innumerate and 'special'. 🙂

• ST

  @stephenr2195 · 3 weeks ago

  We're Gen X, we will figure it out, just like we have since we were 5.

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• IN

  @InfoSecTangSoo · 3 weeks ago

  Yup. 54. Gen X F500 IT Director here. &nbsp;At least I was until 2 months ago. &nbsp;Position “eliminated”. &nbsp;(Actually consolidated with another director’s position who was also laid off). &nbsp;No “High Earning Years” /Catch Ups for me now. &nbsp;Still have to put two kids through college. &nbsp;With ageism, I’ll be lucky to pull 1/2 what I commanded before.<br><br>Man plans. &nbsp;G-d laughs.

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• TH

  @TheYangnyin · 2 weeks ago

  Never got a decent job until the last few years (now in my 50s) so couldn&apos;t really save. &nbsp;Now I&apos;m worried about AI taking my job before have enough to scrape by

• RI

  @ridoyab5537 · 3 weeks ago

  The distinction between simply having an account balance versus generating predictable retirement income was brilliantly explained. Adding clear visual chapter overlays or quick summary graphics for the five retirement truths would make following the financial concepts even more seamless. I am a professional video editor and thumbnail designer. I crafted a clean and high CTR thumbnail for this video that I would love to gift you. Please let me know what is the best way to contact you.

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• SE

  @Setters-R-Better · 3 weeks ago

  We&apos;re Xers who both have already retired in our 50&apos;s. Its no longer popular to say, but for us, our number 1 financial goal was paying off our mortgage. We did that on my 40th birthday. Remember mortgage rates were 8-9% when we built our home and the markets sucked for the entire decade of the 2000&apos;s. We kept investing but it was after doubling and tripling our mortgage payment. Now, in our second year of retirement, I cant imagine having a house payment in retirement. It was the best single financial decision we ever made. It opened up so many other opportunities not having that huge monthly payment for the last 15 or so years of our careers.

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• RP

  @rpdrpd4153 · 3 weeks ago

  We are in our mid-50’s and definitely feeling sandwiched. Both of our parents are still alive in their mid to late 80’s and need a lot of assistance. They refuse to move from their homes and downsize. Are kids are trying to launch on their own but can’t find an apartment for under $2500/month or a house close by under $600k that isn’t a tear down. &nbsp;We have a good amount saved and I’ll get a great pension but don’t even know if that will be enough.

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• ZN

  @Zneedsmore · 3 weeks ago

  I cared for my mother during her final years and supported my former spouse through a long-term illness, with much of that care paid from my retirement savings. My adult son also has significant disabilities and still needs ongoing financial support. I did all of this for the right reasons and have no regrets, but it affected my retirement plans more than I anticipated. I’m still far better positioned than most, and I’m grateful for that, but without those responsibilities, I could have retired this year at age 61. Instead, I’ll need to postpone it until I turn 65.

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