This video discusses why so many from the forgotten generation, Gen X, are in financial trouble. Importantly, the video identifies what they can do about it with the time they have left in the workforce to change direction ASAP.
Free report mentioned in the video
https://www.nirsonline.org/reports/genx/
Chapters
00:00 Introduction
00:14 Gen X Financial Problems - Hiding in Plain Sight
00:57 Gen X Does Not Have Access to a Pension
02:13 This is How it Ends...
02:58 Gen X Was the First to Have a 401k as their Primary Retirement Plan
03:28 Gen X's Example Was Wrong
04:31 If Gen X Knew Then What They Know Now...
04:48 Gen X's Finances Are Devastating
05:48 90% of Population Would Have No Money in Retirement
06:32 Does Gen X Know They Are Behind?
07:08 Married Gen X'ers Financial Outlook
07:54 Older Gen X'ers Lost a Lot of Money During the Great Recession
08:49 Gen X Will be Heavily Reliant on Social Security
09:28 Will Social Security Still be Around for Gen X?
09:52 In 1983, the Social Security Trust was Months Away from Running Out of Funds
10:58 What Does This Mean for Gen X?!?
11:36 Gen X Needs to Keep Saving
FREE Retirement Ready Checklist:
https://HolySchmidt.com/Checklist/
Important Links:
Follow Me on Instagram:
https://www.instagram.com/the_schmidtlist/
Geoff's Facebook Page
https://Facebook.com/GeoffreyMSchmidt
Federal Reserve Board Survey of Consumer Finances:
https://www.federalreserve.gov/econres/scfindex.htm
Social Security Administration Application for Benefits
https://secure.ssa.gov/iClaim/rib
Current Social Security Cost of Living Adjustment
https://www.ssa.gov/cola/
Social Security Payment Estimator
https://www.ssa.gov/benefits/retirement/estimator.html
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Disclaimer: this video is for educational and entertainment purposes only and is not meant to be a substitute for legal, accounting, tax, or professional advice. If you have any specific questions about any legal, accounting, tax or other professional service matter you should consult the appropriate professional services provider.