Gen X investors are worried about retirement but aren't well-equipped to address their plans, according to a study released Monday by Jefferson National. The study showed that 52 percent of Gen X investors do not have an advisor, and are least likely to seek advice even though they are in their prime earning years, between the ages of 37 to 52.
Of particular note for advisors was the survey finding that 30 percent of Gen Xers said their number one reason for having an advisor was concern about saving enough for retirement. Their second main reason — feeling confident in their financial future — trailed by 10 percentage points.
In contrast, 36 percent each of baby boomers and older investors and 27 percent of millennials cited feeling confident in their financial future as the number one reason for seeking financial advice. Only 15 percent of millennials and 12 percent of boomers said retirement saving was their chief reason.