Only 49% of Gen Xers feel on track for retirement, lowest among generations

According to the 2026 Goldman Sachs Asset Management Retirement Survey & Insights Report released on September 30, only 49% of Generation X savers feel they are on track or ahead for retirement. This is the lowest confidence level among the generations surveyed, with Gen Z at 66%, millennials at 61%, and boomers at 60%.

The survey of 5,106 people, conducted in July, highlights that Gen Xers are working more but feeling less financially secure. Only 57% describe their primary job as financially stable, the lowest among the four generations, compared to 71% of millennials. Additionally, 57% of Gen Xers have taken on work outside their main job, with 72% of those citing the need for extra income.

Goldman Sachs' report emphasizes that Gen X, often considered the first generation to use 401(k) plans and currently in the middle of their careers, is the least likely to feel their job provides long-term financial security. One-third of Gen X respondents said their job covers current expenses but makes it difficult to get ahead, while 11% struggle to remain financially secure despite consistent work.

The report notes that Gen Xers are in a critical phase for wealth accumulation just before retirement, a time when confidence in earning power should be at its peak. However, their financial squeeze is evident, with everyday expenses cited as the top savings obstacle for Gen X at 37%, unlike younger generations who pointed to housing costs.

Greg Wilson, head of retirement at Goldman Sachs Asset Management, remarked that while workers may appear financially stable externally, many are working more, delaying major goals, and supplementing their income to manage their finances.