GenX Americans, do you have enough to live comfortably in retirement as it looms nearer, no debt, own your home or will you have to still work in the retirement years to make ends meet?

25 comments

1. GenXer here. I own my home outright, I have no debt, I have a comfortable retirement fund, I’ll be just fine.

2. I’m a millennial but my older siblings are both Gen X.

   They have no expectations of retiring and will work until their bodies start to fail them just like our parents. Then it’ll be a mixture of social security and disability to pay the bills combined with part time work.

3. 53. I should own my home by retirement. We don’t have credit card debt. Our cars are paid off (and we’ll buy reasonably priced used cars in the future). But our salaries aren’t great.

4. Yeah zero debt, own the home (lots of repairs coming up though). I put money in a 401K for the last 30 years, not sure what I’m going to spend it on, probably overdid the retirement savings lol

5. I own my home (thanks to selling a business share) and have no debt and a used car. I have an “ok” amount in retirement funds.

   I assume I’m screwed. I could probably work longer, maybe squeeze another 15 years in. A few years ago I worked with a team of octogenarian AS/400 systems developers… they seemed content to die in a cubicle… and ya gotta have a hobby when you’re over 75 right …. lol I’m so screwed

6. I’m on the young end of GenX, but assuming I’m able to work and continue saving and accruing benefits until my mid-60s, I should be decently situated to retire. I don’t own a home currently, but I have no debt and should have enough between savings, investments, 401k, pension, and social security to not have to work in my old age. My biggest worry is how to make sure I’m cared for if/when I lose my physical and mental faculties, since I have no partner or children. I’m hoping some of my nieces and nephews will make sure I am not neglected and get me into a reasonable care home if I need it. As I and they get older, I’ll reassess which of them to give control of my situation and finances should it be necessary.

7. Leading edge of GenX, raised poor, barely graduated from HS. Eventually went back to school. Now have a paid-for house, car, 2 motorcycles and a comfortable investment account in addition to two IRAs (Roth and conventional), a 401k and company stock account. And I’m due a modest pension. I expect to retire at the end of this year, or shortly after, age 57.

   Transitory debt only – monthly credit card usage paid off at the end of the month, that sort of thing.

   I do not live on a coast.

   I expect I’ll be ok, but I won’t be traveling the world. That gets extremely expensive really fast.

   I’m a saver by nature. I’ve saved/invested at least 20% of my paycheck forever. I do not party at all, so I probably won’t spend it all before I die – I’m gonna be a “rich” uncle for a couple people.

8. Hell no. Will be working ’til I keel over.

9. 1 minute after I turn 65 I’m never working again. Looking forward to giving back.

10. I will have to call in on the day I die.

11. I’m a younger GenX (1979), divorced and single. At this pace, I can theoretically retire at 65, but would have just enough to be comfortable. No frills. I do own two apartments, both in major cities. I prefer to pass them down to my son rather than have to sell for eldercare expenses.

    Of course, any catastrophic event or major illness will throw a wrench into my plans. I do not feel very secure about my future as I am alone and my son is only 11. I plan to work past retirement.

12. I’m at the oldest year of genx at 58. House isn’t paid off but my payment is low enough due to equity and a low rate two years ago that it’s not an issue. Our ranch with house is paid off. We’ve been fortunate to have good , professional jobs for all of my career and a good portion of my wife’s. Good, long term investments along with 401ks, Iras, etc means we’re in pretty good shape now despite living in the SF bay area. The main reason I continue working is I like my job, we have kids in college and the cost of medical until 65 is prohibitive. My company also continues to add significant incentives to keep working.

13. Late Boomer/early X depending on who you ask. (Generation Jones is a much better fit.)

    Retire? ROFL – what *are* you smoking?

14. I have a good job now, but it’s kinda too little too late, and I have no expectation of retiring in the fashion that my boomer parents are barely pulling off now.

15. Late X here. I’ll put in a half day the day of my funeral.

16. I don’t own a home but I am most likely on good track to have retirement money. No debt. I don’t expect I will be able to retire early if I wanted unless I get off my butt and do some hustling.

    I don’t expect to be ever able to find or afford a home of my own to be honest.

17. Older Gen-X, so mid-50s now. I had to file for Disability about 10 years ago, and those monthly payments just don’t go very far anymore. If I had to live on my own, it wouldn’t cover rent, much less anything else. But the majority of people don’t have to do that.

    My longtime partner will likely never retire, but he’s a career-man so that was always his plan. We were only just able to buy a house less than 5 years ago, so we’ll be paying in it until one of us is dead and the other kicked out. We’re not even in a high cost-of-living area.

18. Yes. Husband and I are both Gen X. We live in the Midwest, own our home and cars outright, no debt. Decent retirement accounts (have been maxing out 401k for years). No worries about retirement.

19. I have literally nothing. That’s mostly due to the fact that I have a mental illness (Borderline Personality Disorder) that went undiagnosed and untreated until a couple years ago, so I was drinking very heavily and doing lots of crazy shit.

    At this point, I don’t foresee any realistic possibility of me turning things around enough to be able to have a “great” retirement, the kind in which you’re able to travel and do fun stuff. I’m predicting I’ll mostly be relying on Social Security, which won’t be much, so I’m moving away from the PNW to a place with a much lower cost of living.

20. We’re never retiring. We have to work till we die. It’s awesome to think about!!!

21. When you literally have no hope, and no kids, wife, maybe a gun to the temple makes sense. Like why do I keeps paying money lol. I’m not even getting college relief lmaooooo.

22. I’m 55. I own my home and have no debt, but only have about 100k in 401k and 140k in savings. I’ll be working until I can’t. After that…probably a nursing home paid by medicaid and the government will take whatever I might have left. I am not optimistic about my “golden years”.

23. Work until death

24. No to all of the above

25. Nope. I’m broke. Gonna die broke and in proverty. If I live long enough for that.