Gen X Handles Stress About Retirement Better Than Other Generations — Here’s What They Do
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Of the last five social generations in the Western world (baby boomers, Generation X, millennials, Generation Z and Generation Alpha), Generation X has been the group most defined by a sense of self-conscious “cool,” as well as using irony and cynicism as a means of remaining (or appearing) aloof. Thus it’s somewhat fitting that the most ironic of recent generations, the one most defined by a sense of cool, would then ironically grow up to become the “most stressed” generation.
Per a recent Upworthy post, as members of Gen X (born between 1965 and 1980) find themselves in their mid-40s or even early 50s, they are now the next generation entering middle age and thus primed to go into retirement. They are, generationally, now at the age in which they must begin to reckon with whether or not they have the financial ability to even retire at all. In fact, Upworthy quotes a 2012 Penn State study that showed that on a 1 to 10 scale, Gen X has an average stress level of 5.8/10, a number significantly higher than baby boomers (4.4/10) and millennials (3.4). So how is the so-called slacker generation handling being the most stressed generation?
Holding Off on Having Kids
As Reddit user gozoom9 recently posted in the thread Apparently We Are the Most Stressed Generation, Gen X is a “sandwich generation” — caring for both aging boomer parents as well millennial or Gen Z children. Further, they argued one way to combat the stress is to simply not complete the generational “sandwich.”
“I’m glad I didn’t have kids because I couldn’t do it and take care of my mom,” they wrote. “I already had to care for both of my grandmothers for the last few years of their lives. My Boomer parents (both are only children) couldn’t cope with it or, in dad’s case, just didn’t want to do it. They died in 2012 and 2015 and I still don’t feel like I’ve recovered physically or mentally. It takes a huge toll. I can’t imagine trying to do it with kids.”
Relying Upon the Coming Generations
In the same thread, user lovetheoceanfl joked that Gen X should “treat the younger generations well. They will be in charge of your financial future.”
All joking aside, though, they might just have a point, and user Odd-Animal-1552 noted they indeed plan to cash out their pensions, sell their home and, if buying an RV or home outside the United States doesn’t work, they fully plan to “crash with one of my kids.” Multigenerational homes are becoming an increasing reality in America, one that lessens the financial burdens of each generation under the same roof.
Keeping It Frugal and Doing What You Love
While this may not be for everyone, Reddit user VolupVeVa kept the Gen X attitude strong in the thread Any Gen X fed up with working yet? What age will you retire? by noting, “I never wanted to work at a job. I have the soul of an artist/layabout. Every job I’ve had has been a means to support my art and relaxation.”
They even went so far as to say that, “I’m willing to live a very frugal life if it means not having to trade 40+ hours a week for dollars anymore. The goal is to semi-retire at 55 and fully retire by 60. As long as my basic needs are covered and I can buy paint and canvases I’ll be happy.” The coolest generation, indeed!
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