Gen Xers Are Alarmingly Behind on Retirement Savings, Survey Shows

Today's youngest Gen Xers are roughly 41 years old, while older Gen Xers are reaching their mid-50s. Even those on the latter end of the spectrum still have a number of working years ahead of them, and as such, have a key opportunity to catch up on retirement savings.

But catch up they must. The median savings balance among Gen Xers is a sorry $64,000, according to a recent Transamerica survey, and while that's certainly better than having no money socked away at all, it's a far cry from where workers that age should be.

There's no single savings target that guarantees financial security in retirement, and ultimately, the amount of money you'll need will depend on factors like:

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Source Fool.com