A Message of Hope and Strategy from Gates Pass Advisors for the Gen Xer Community
Gen Xers face unique challenges as they stand at the threshold of their potential retirement years. More than 1 in 5 say they may never have the funds to retire1. As the oldest Gen Xer approaches that symbolic age of 60, the thought of retiring might feel more like a distant dream than an approaching reality. And if the idea of not being able to afford retirement resonates with you, you’re not alone.
Gen Xers, you have weathered transformative decades that redefined the workplace, emerging as the modern American work ethic pioneers. Despite being dubbed the ‘forgotten generation,’ Gates Pass Advisors is here to acknowledge and respect your resilience and guide you on your path to retirement.
After years of economic instability, we understand that the reality of retirement for many Gen Xers can often feel daunting—a sentiment that the numbers and narratives around retirement seem to reinforce. Below are a few statistics from a September 2023 survey from Bankrate2:
- 69% of Gen X workers feel behind on retirement savings.
- 19% of Gen Xers feel financially secure.
- 72% of Gen Xers feel overwhelmingly behind on their emergency savings.
- 42% of those people say it could take them four years or more to get “back on track.”
Despite the challenges, we firmly believe that within every obstacle lies a remarkable opportunity. This perspective can inspire optimism and hope as you navigate your retirement planning journey.
Retirement planning, especially now, isn’t just about the numbers in your account; it’s about building a strategy that reflects your unique life, needs, and aspirations. Our approach isn’t one-size-fits-all because we know that you are unique. We value your individuality and are committed to exploring how personalized strategies can redefine what retirement means for you.
Our mission at Gates Pass Advisors is clear: to make financial understanding accessible, transform concern into confidence, and turn dreams into achievable plans. This unwavering commitment is designed to instill trust, confidence, and perhaps even curiosity and enthusiasm in all our clients, ensuring they feel secure in their financial future.
The clients that we work with may have experienced changes in their 40s and 50s, such as the loss of a spouse due to death or divorce, pandemic-induced health changes in themselves or their children, or job layoffs that have threatened their sense of ability ever to retire.
Recently, we showed a Gen X client that, while his tech career felt stalled after a layoff, he didn’t need to make major changes immediately—that he actually had more choices than he realized and may not be forced to make the financial moves he was afraid of. This left him feeling more hopeful about the possibilities.
Remember, preparation is powerful. Together, we assess where you stand and celebrate the milestones you’ve already achieved. We will help you plan a course for your retirement that’s as rewarding as the many years you’ve worked to get there. It’s about creating a balance that sustains you, preparing a strategy that supports you, and creating a future that excites you.
Generation X, you’ve always been the bridge between the old and the new. Now, let’s bridge your present to a future where retirement is not a source of concern but a well-deserved chapter full of potential and peace of mind. You’re not navigating these waters alone; Gates Pass Advisors will be with you at every step. We collaborate with you to show you a future where financial security isn’t just a goal—it’s your reality.
Trust and transparency are the cornerstones of every relationship we build. Gates Pass Advisors is here to help you find your way, listen to what you have to say, and give you the tools you need to succeed.
Citations:
- Natixis Investment Managers survey. “Reality Bites as Generation X Approaches Retirement.” June 18, 2024,
https://www.im.natixis.com/en-us/about/newsroom/press-releases/2024/reality-bites-as-generation-x-approaches-retirement - Gillespie, Lane. “After years of economic instability, many Gen Xers could reach retirement age without enough savings.” Bankrate. 10 January 2024