Gen X net worth is not up to snuff for retirement
Generation X is likely to be worse off in retirement than the baby-boomer generation. Generation X could be the first post-war generation to be more ill-prepared for retirement than the previous one, according to a new study from J.P. Morgan Asset Management, InvestmentNews reported. Baby boomers, people born between 1946 and 1964, enjoyed a period of economic prosperity early on in their careers that contributed to strong asset growth and high savings rates not experienced to a similar degree by following generations. As a result, those younger Gen Xers who are 35 to 44 years old today have a median net worth of approximately $47,000, compared with $102,000 for those of a similar age 25 years ago, according to the report.