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Five tips for Gen Xers feeling squeezed by student debt
  + stars: | 2023-11-02 | by ( Chris Taylor | ) www.reuters.com   time to read: +5 min
That means many competing financial responsibilities, familiar to the Sandwich Generation: student debt, retirement saving, raising kids and sending them to college, and caring for elderly parents. Something has to give – which is why Gen Xers still dealing with student debt often sacrifice saving for retirement. “For those Gen X with student debt, the average amount of retirement savings is consistently lower. “These student debt repayments can last for 30 years,” says Evan Potash, a wealth management advisor with TIAA. In particular, starting in 2024, participating employers will be able to match your student loan repayments with contributions to your 401(k).
Persons: Joe Biden's, Debbie Irk, Irk, “ I’m, , Xer, Xers, Gen Xers, Tyler Bond, NIRS, Joe Biden’s, Evan, TIAA, , NIRS ’ Bond, I’ve, Chris Taylor, Lauren Young, Jonathan Oatis Organizations: Baby, University of Phoenix, National Institute on Retirement Security, Sandwich, Supreme, Thomson Locations: Washington , U.S, South Bend , Indiana
Gen X isn't financially prepared for retirement
  + stars: | 2023-09-27 | by ( Jeanne Sahadi | ) edition.cnn.com   time to read: +8 min
New York CNN —Gen Xers are now in their 40s and 50s and account for about a fifth of the US population. And the median amount that Gen X households have in retirement savings — meaning half have less, half have more — is just $40,000. “Retirement savings for Generation X is highly concentrated among the highest earners,” the report notes. Nevertheless, the average Gen X retirement savings balance (nearly $130,000 for individuals and $243,000 for households) suggests that many higher earners may not be saving enough, if those savings are intended to be one’s main source of income in retirement. Also, changes to an existing Saver’s Credit may help lower income Gen Xers.
Persons: Xers, , Tyler Bond, Gen Xers, Stark, Rowe Price, , Organizations: New, New York CNN, Boomers, National Institute on Retirement Security, Social Security, Social, Fidelity, Vanguard Locations: New York
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