09/02/2026
For many Gen Xers, retirement is starting to feel less like a distant milestone and more like a looming financial reality.
The oldest members of the generation will turn 62 next year, the earliest age to claim Social Security. At the same time, many are approaching retirement with limited savings and fewer pensions than previous generations had.
The median Gen X retirement savings balance is about $107,000, while members of the generation estimate they’ll need roughly $700,000 for retirement. Social Security may also become an increasingly important source of income, with 41% of workers over 55 saying they expect it to be their primary source in retirement.
That gap is prompting some Gen Xers to rethink when they’ll stop working, how much they may need to save, and what retirement could realistically look like.
If retirement is getting closer, this may be a good time to review your savings, expected Social Security benefits, and other sources of retirement income.
Millions of Generation X Americans expect to depend on Social Security as their main — or only — source of retirement income.
