From REM to 401(k): A Gen X Guide to Retirement Planning
You'd think Gen Xers would have retirement planning down to a science. After all, those in their late 30s to early 50s have been warned to save for retirement their entire careers. But a surprising number of Gen Xers are coming late to the party. Nearly a quarter of Gen X workers have yet to start saving for retirement, according to Transamerica.
Why do so many people in this age group struggle to save? Often, it boils down to rising living costs. Expenses tend to peak once workers reach their late 30s or 40s, and 40-somethings have higher credit card balances than any other age group. Still, Gen Xers who have neglected retirement planning thus far need to change their ways while there's still time. Here how.
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Source: Fool.com
