Gen Xers are facing a retirement crisis, with just 49% feeling on track or ahead, the lowest of any generation according to the 2026 Goldman Sachs Asset Management Retirement Survey & Insights Report. This marks a sharp decline from 58% a year ago, highlighting growing financial insecurity. Other generations also lost ground, but Gen X started lower and fell further behind. Millennials, for instance, dropped 13 points from 74% to 61%. The survey of 5,106 people, conducted in July, reveals a generation struggling with job instability and rising expenses.
Only 57% of Gen X respondents describe their primary job as financially stable, the lowest among the four generations surveyed. A striking 72% of those taking on side jobs said they needed the extra income. Goldman Sachs Asset Management's Greg Wilson noted that workers may appear stable externally but are often working more, delaying major goals, and supplementing their income. The report highlights that Gen X, in the heart of their careers, is the least likely to feel long-term financial security from their jobs.
The financial squeeze is evident in everyday life. While housing was the top savings obstacle for younger generations, Gen Xers cited everyday expenses as their biggest challenge, at 37%. Two-thirds of Gen Xers have delayed major financial goals, compounding their savings problems. Chris Ceder, senior retirement strategist at Goldman Sachs Asset Management, emphasized the importance of emergency savings to avoid debt and further financial strain.
The survey also found a broader shift toward defensive financial behaviors. The share of workers increasing their retirement savings fell to 39%, a 16-point drop, while those cutting savings rose to 14% from 8%. Two-thirds of Gen Z, millennial, and Gen X respondents expect to delay retirement. The report underscores that Gen X, the first generation to rely heavily on 401(k)s instead of pensions, is now facing the consequences as the oldest members approach their early 60s.