Retirement Fears of Gen X

The Insured Retirement Institute recently conducted a survey of Generation X - defined as people aged 36 to 55 - about their retirement planing fears. Surprisingly, having enough money in retirement was not the top concern. Here are the fears that outweighed that:

1. Covering their own long-term care costs: Only 63 percent of the Gen Xers said they were somewhat or very confident about having enough money to pay their long-term care bills.
2. Meeting their parents’ LTC needs: About 53 percent of the Gen Xers said they were somewhat or very confident about being to help pay their parents’ LTC bills.
3. Paying their children’s college bills: Only 51 percent of the Gen Xers said they were somewhat or very confident that they will have enough money to cover their children’s higher education expenses.