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Clark Howard's Tips
Generation X not saving for retirementApril 21, 2008
Members of Generation X don't think they'll ever be able to stop working, according to a survey from the BetterInvesting organization. Most adults age 27-42 have saved minimally at best for their retirement. In fact, 40% have saved almost nothing at all!
Here's the upside: Gen X is not in denial about the dwindling of Social Security. They know they should be saving for retirement -- they just haven't done it. Well, the first step to getting better is to admit that you're ill!
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CLARK'S TIP TOPICS
Find more consumer advice in Clark Howard's book, "Get Clark Smart" |
If you don't save, you'll probably have to continue working until you drop. That's so unlike the scenario that faced most baby boomers -- a generation that really lived it up in the golden years. But at the current rate, Gen X won't even have the option of retirement. It goes without saying that Clark wants Gen X to reduce debt and save along the way.
It all begins by buying only the things that you can afford on a day-to-day basis. That's means no 0% in-store financing. We're at a unique juncture in American history where we have the permission to indebt ourselves into oblivion. But that's a choice. And if you make it, you may have to work your whole lifetime and never stop.
