Retirement used to be a finish line. For Generation X, it’s starting to look more like a mirage.
In a post on Reddit’s Gen X forum, one user spoke plainly. “Retirement is gone,” they wrote. “Most of us are not gonna retire. There is not enough money saved and cost of living is skyrocketing.”
That bleak forecast didn’t go unanswered. Redditors agreed, some echoing a similar sentiment: even if they did manage to retire, they’d be doing it broke, resentful, or burdening family members with the cost of aging. Others joked darkly about walking off piers or feeding themselves to the Crocodile Gods.
While the thread spanned everything from Ayahuasca to tiny homes, the financial fears were serious — and backed by real data.
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How Far Behind Is Gen X?
According to the National Institute on Retirement Security, the median retirement savings for Gen X households is just $40,000. Nearly 70% of Gen X workers say they’re behind, and 47% say they’re significantly behind. The problem isn’t limited to low-income earners either. Even in the top 25%, the median Gen Xer has saved just $72,000 — still a far cry from what most believe they’ll need.
And that number? According to Northwestern Mutual’s 2025 Planning & Progress Study, Gen X estimates they’ll need $1.57 million to retire comfortably. That’s over $300,000 more than the national average across all generations.
In other words, the gap between what they have and what they expect to need is somewhere between brutal and mathematically impossible — especially as the oldest Gen Xers start turning 60 in 2025.
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What’s Making Retirement So Much Harder?
Unlike many Baby Boomers, Gen X isn’t retiring with defined benefit pensions. Only 14% of Gen Xers have one, according to the Retirement Income Institute. Instead, they’re stuck with DIY retirement: 401(k)s, IRAs, and personal savings. Add in rising housing costs, skyrocketing healthcare, market volatility, and caregiving responsibilities, and the result is what one user called “a holding pattern until we die.”
One 53-year-old on Reddit said she never expected to be caring for her mother full time at this stage of life — and now needs antidepressants just to cope. Another pointed out that many older workers who do want to work are still overlooked by employers. “They see us as a short-term solution,” another commenter wrote. “No one wants to hire someone close to retirement.”
Some commenters blamed the system, pointing to Social Security fears and the decline of job security. Others blamed themselves for financial decisions they wish they could take back. One summed it up bluntly: “We get taxed on taxed money. It’s a scam.”
Is It Too Late to Catch Up?
No. But it’s going to take intention — and some urgency.
Here are a few strategies that can help Gen X households close the gap:
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Max out tax-advantaged accounts like 401(k)s and IRAs. For those over 50, catch-up contributions can give a real boost.
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Invest consistently rather than trying to time the market. Even small, steady contributions can compound faster than people expect.
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Explore fractional real estate investing through platforms like Arrived, which lets individuals invest in rental homes with as little as $100 and earn passive income over time.
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Downsize or relocate if housing costs are unsustainable. Several users mentioned moving abroad to stretch limited savings.
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Consult a financial adviser. Many Gen Xers say they were never taught how to plan — an expert can offer strategies to manage debt, prioritize savings, and prepare for long-term care needs.
Gen X doesn’t have the same retirement foundation their parents did. And they know it.
Some will make it work with tight budgets, rental income, or just luck. Others will keep working long past 65 — not out of passion, but necessity. Either way, the message from the thread was clear: retirement isn’t a given anymore. It’s a privilege — one that’s slipping further out of reach.
For those feeling behind, now is the time to reevaluate, regroup, and take action — even if it’s late in the game. Because no one’s coming to fix it. And as one user put it, “All we control is now.”
Image: Shutterstock
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This article 'Retirement Is Gone,' Say Gen X As Reality Sinks In —Most Think They'll Need $1.57 Million To Retire Comfortably But Data Shows They Only Have $40K originally appeared on Benzinga.com
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