For many members of Generation X, retirement seemed like something to worry about much later down the line. But it turns out that later is now.
According to a new Advisor Authority study funded by the Nationwide Retirement Institute, 6 in 10 Gen Xers didn’t consider retirement an urgent priority until they hit 50 or older. About a quarter say they won’t feel that urgency until age 60 or beyond.
The Harris Poll conducted the online survey for Nationwide from Aug. 19 to Sept. 2, 2025, polling 510 financial advisors and 2,007 investors age 18 and older with at least $10,000 in investable assets. The survey included 580 investors from Generation X, which is defined as those born between 1965 and 1980.
The results show that Gen Xers largely feel like retirement has “snuck up” on them, and now many are scrambling to catch up.
The most common move, according to the survey, is cutting discretionary spending, with 40% reporting they have trimmed their budgets to free up cash for retirement savings.
Here are the other ways respondents ages 45 to 60 say they are shifting retirement plans, along with the percentage reporting making such moves:
- Increasing contributions to retirement accounts: 34%
- Seeking professional financial advice: 23%
- Exploring new income sources such as side jobs: 20%
- Shifting investment strategies to reduce risk: 19%
- Delaying planned retirement age: 17%
- Shifting investment strategies to increase potential upside: 17%
- Working on making catch-up contributions: 16%
Still feeling behind
Despite taking action, many Gen Xers lack confidence their money will last. A quarter worry their savings won’t stretch beyond 14 years, and 12% say their nest egg is already shrinking.
Financial advisors share that concern. Nearly 40% believe insufficient retirement income is among the biggest hurdles their Gen X clients face.
Time is running out, says Suzanne Ricklin, vice president of Nationwide Retention and Sales, in a summary of the report:
“For Gen Xers, the clock is ticking. Retirement is no longer a distant milestone, but an event that’s right around the corner.”
Economic anxiety runs high
Rising costs haven’t helped. Nearly 9 in 10 Gen X investors believe climbing living expenses are making comfortable retirement harder to achieve. More than half expect inflation to rise in the next year, up from 39% just six months earlier.
That uncertainty shows in retirement plans:
- 16% now expect to retire later than they’d hoped
- 12% plan to work part-time in retirement
- 15% don’t know if they’ll ever be able to retire
If they had to retire tomorrow, many say they’d keep working in some capacity out of necessity, while others believe they’d eventually return to the workforce because their savings wouldn’t be enough.
What finally got Gen Xers moving? For 38%, it was economic changes and market volatility, and another 37% were motivated by watching family members or peers struggle with retirement planning.
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