Skip Navigation Download Adobe® Acrobat Reader to view Portable Document Format (PDF).
aerial view of 2 individuals shaking hands across a table.

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

By: Dave Geibel, Senior Vice President and Managing Director, Girard

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 are here to help. Contact us to have a conversation about the plan for your financial future.


These articles and reports are for general information purposes only and are not intended to provide legal, tax, accounting or financial advice. The information in these articles or reports, and any opinions expressed therein, do not constitute a recommendation or an offer to buy or sell any security or financial instrument. Viewers should consult with their financial and/or legal professionals before making any financial decisions.