Wise Investing

Has Gen X Been Abandoned? Getting This Generation on Financial Track

Millennials and baby boomers dominate headlines. As the two largest generations in history, it’s no wonder these demographics have taken center stage for financial advice. There is no shortage of articles offering advice on how to pay down student loans or tackle rising healthcare expenses in retirement. However, Generation X (those born between 1965 and 1980) is often overlooked as it is sandwiched between boomers and millennials.

Studies show that Gen X has woefully under-saved for retirement and has more credit card and overall debt than any other generation. Now is a critical time for Gen Xers as they are likely in their highest earning-potential years. As a Gen Xer, I understand how it feels to be pulled in different directions. I see many clients and friends who are also facing financial obstacles unique to Gen X.

Yes, we want to help our kids pay for college.
Yes, many of our adult children are asking for financial support.
Yes, we want to ensure our aging parents get the best care possible.

However, we can’t allow all of this to take precedent of our own financial well-being and preparation for retirement. Your children can take out student loans, or opt to attend a less expensive college. Your parents may have to downsize or adjust their spending habits so they don’t outlive their savings. The bottom line is you can’t take out a loan for your retirement income.

As you evaluate your finances for the year, reconsider how you can bolster your retirement funds. At the same time, have frequent conversations with your teenage children, adult children and parents if their life situations may be impacting your finances. It’s critical that everyone in the family unit have open and honest conversations about plans. This can help ensure everyone is on the same page and minimize last-minute financial decisions that can veer everyone off track.

If you are feeling financial pressure as a Gen Xer and want to help the generations on either side of you, have an open conversation with your financial advisor. He or she can help determine to what extent you are able to be a financial support system for your loved ones.

If you’re looking for guidance or assistance in meeting your financial goals, the advisors at Girard, a Univest Wealth Division, are here to help. Contact us to have a conversation about the plan for your financial future.


Girard is a marketing name used by Univest Financial Corporation to provide (1) investment and wealth management, fiduciary services and trust services through its subsidiary Univest Bank and Trust Co., (2) specific fiduciary and investment advisory services through Girard Advisory Services, LLC (3) securities products, insurance products and brokerage services through Girard Investment Services, LLC, a registered broker-dealer and member of FINRA and SIPC, and a licensed insurance agency, and (4) investment management and related products and services for Pennsylvania municipal entities through Girard Pension Services, LLC. Investment products and services are not FDIC insured, not a bank deposit, not bank guaranteed, not insured by any federal government agency and are subject to risks, including possible loss of any principal amount invested.

Leave a Reply

Your email address will not be published.