As the oldest members of Generation X turn 60 in 2025, many are approaching retirement with a sense of unease and reflection. A new Northwestern Mutual study reveals that half of Gen Xers (50%) share one major financial regret — they focused too much on building wealth and not enough on protecting it. That’s far higher than the 35% of baby boomers who expressed similar concerns.
Below, we’ll explore why this generation feels exposed, what steps they can take now, and how financially ready they are for retirement.
1. Gen X’s Core Financial Mistake: Focusing on Growth Over Protection
While growing wealth is essential, protecting it is just as critical — and that’s where many Gen Xers fell short.
“Many Gen Xers feel they’ve fallen behind in retirement savings and are trying to make up for lost time, which can leave them vulnerable to financial risks,” explained Dundee Gouin, a financial advisor and managing director at Northwestern Mutual’s Hyde Park office.
According to Gouin, Gen X should ensure they’re prepared for unexpected life events like disability, loss of a spouse, or sudden health challenges — all of which can drain savings quickly.
“It’s crucial to have a comprehensive plan that not only grows wealth but also safeguards what has been built,” Gouin said.
To achieve that, financial professionals suggest that Gen Xers take time now to evaluate risk coverage, insurance, and estate planning.
“A trusted advisor can help explore ‘what if’ scenarios and design strategies to address them,” Gouin added. “By doing so, people can move from financial anxiety to financial confidence.”
2. How Much Gen X Has Saved — and Why It’s Still Not Enough
Despite prioritizing wealth-building, many Gen Xers are still behind on retirement savings. The Northwestern Mutual study found that most in this age group have saved three times their annual income or less, and 14% have saved less than their yearly salary.
“For many individuals, that’s simply not enough to ensure a comfortable retirement,” Gouin said.
Because everyone’s needs are different, Gouin recommends working with a financial advisor to determine the right target amount and investment approach.
“A professional can help identify how much to save, the best way to grow those savings, and how to protect that nest egg over time,” he said.
3. Retirement Anxiety Is Real for Gen X
The same study uncovered a deep sense of financial uncertainty among this generation. More than half (56%) of Gen Xers believe they might outlive their savings, compared with 40% of boomers. And 57% worry about whether they’ll have enough to retire at all.
Gouin explained that Gen X faces unique challenges that contribute to this anxiety.
“Gen X has spent more time in the ‘sandwich generation’ than any other group,” he noted. “Their aging parents are living longer, creating rising caregiving costs, while their adult children are struggling with housing, healthcare, and education expenses — often moving back home.”
On top of those pressures, Gen X has fewer built-in financial safety nets than previous generations.
“Fewer Gen Xers have traditional pensions, which helped many boomers cover retirement expenses,” Gouin said. “And they may be the first generation to feel the effects of changes in Social Security, with projections showing the fund could be depleted by the mid-2030s.”
4. The Path Forward: Building a Safer Retirement
Even with these challenges, experts say it’s not too late for Gen X to build financial security. The key is intentional planning — focusing not just on saving more, but on creating a plan that can weather uncertainty.
“It’s important for Gen X to act intentionally,” Gouin emphasized. “A personalized financial plan helps chart a course toward long-term stability and peace of mind.”
In short, the best way for Gen X to overcome regret is to balance growth with protection — turning financial anxiety into financial resilience before retirement arrives.