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Gen X remains hopeful for the future. But here’s some good news, at least from a retirement perspective: Generation X is spending less on discretionary purchases in 2024, Bank of America reports.
Generation X (often shortened to Gen X) is the demographic cohort following the Baby Boomers and preceding Millennials.Researchers and popular media often use the mid-1960s as its starting birth years and the late 1970s as its ending birth years, with the generation generally defined as people born from 1965 to 1980.
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There’s a notable gender gap, too. The median retirement savings is $13,000 for single Gen X men and $6,000 for Gen X women. (That might be because Gen X women are more likely to work part-time.)
And Gen X is also notable because "they are the first generation to rely on 401(k) plans instead of pensions and the next in line to retire," says Deb Boyden, head of U.S. defined contribution at ...
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