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More than half (52 percent) guess at their retirement savings needs, and often they guess too low.
The median amount of savings that Gen Xers reported they’d need is 0,000.
This entails preparing realistic estimates of their retirement needs and developing a savings strategy to meet their goals.
Unfortunately, 40 percent of Gen Xers have no strategy for their retirement, and another 44 percent have a strategy that isn’t written down.
Just 13 percent said that they had improved things.
The survey, conducted through Survey Monkey, found that 30 percent of boomers believe policies created by their generation had made things worse.
32 percent claimed they made things better, and 34 percent said neither.
More than half (55 percent) said they’ll work beyond age 65, and nearly the same (51 percent) reported they plan to work in their retirement years.The survey was an online poll was conducted through April 9-13 among 4,638 adults in the United States.Compared to retiring baby boomers, so many of whom are racing to beat the clock to save for their golden years, Gen X has an edge in this regard.Let’s take a look at what Transamerica found that’s working -- and what needs improvement -- regarding Gen X retirement planning.What’s working, many working Gen Xers have heard and acted on the message that they need to save for retirement.