Gen X (aged 35 to 49) have significant financial concerns, but find it difficult to create change or maintain a positive outlook, according to a new survey exploring US consumers' financial attitudes and behaviours.
Findings from the study, conducted by US financial services company Northwestern Mutual, were released in April 2015. The survey included the views of more than 5,000 US adults, from across four generations.
Gen X revealed the poorest financial habits of the four generations studied, having the largest proportion of "informal" planners, more spenders than savers and the least likelihood of possessing more savings than debt. This lack of planning is affecting Gen X's sense of financial wellbeing and future outlook.
There is an opportunity to address the concerns of this generation by offering ways to future-proof their financial outlook. For more insight into how Gen X think and what differentiates this age segment from millennials, see Getting to Know Gen X.