What used to smell like teen spirit has turned to a mid-forties funk. But angst is nothing new to the oft-overlooked age group known as Generation X, which is going through growing pains usually associated with adolescence as they battle through milestones of adulthood. The prospect of retirement is especially angst-invoking for the onetime “slacker” generation, now known as the “sandwich” cohort, as they navigate the trying tasks of taking care of their children, parents, and own finances.
When it comes to leaving the workforce, Gen Xers are a bit more nervous than generations before them. So found the Mather Institute in the first year of a five-year project that surveyed more than 2,500 Gen Xers and 2,500 boomers. Currently shouldering the caretaking weight of both younger and older relatives, our sandwich generation is spread about as thin as a layer of mayo on a hoagie. Add to the mix concerns about Social Security being drained by boomers and the waning offering of pensions, and Gen Xers are feeling bleak about their chances of retiring.