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THE BIG FINISH
WRAP YOUR HEAD AROUND THE MARKET'S LEADING INDICATORS
GEN X ANXIOUS, FEARFUL FOR FINANCIAL FUTURE
More than a third of consumers aged 28 to 52, known as Generation X, have a bleak outlook for their financial future,
according to Fico's latest consumer trend research. Gen Xers were hit hard between 2007 and 2010, losing nearly half of
their wealth and left dealing with crippling debt.
"Generation X is clearly concerned about what the future might hold," said Tim Van Tassel, VP of FICO's Credit Lifecycle
Business Line. "The survey confirms genuine anxiety about debt and saving levels in the aftermath of the 2008 recession.
The 'sandwich generation' is often financially overwhelmed by the competing obligations of having to care for both kids
and aging parents. This obstacle to saving means they have a real concern about a potential retirement income shortfall."
Source: FICO Survey "Gen X Continue to Carry Large Debt as 'Inevitable Financial Crisis' Looms"
of Gen Xers said they
are interested in
getting assistance
to help manage
debt, a drecrease
from 24 percent in the
previous survey.
of Generation X said,
"I am confident I will
reach my long-term
financial goals,"
a stark contrast to
older millennials (45
percent), younger
millennials (46
percent), or even
boomers (36 percent)
who were more
hopeful.
of Gen Xers believe
that another
financial crisis is
inevitable in the next
decade. This gloomy
outlook was higher
than that of other
generations by a full 5
percent.
of Gen Xers said they
were concerned
about debt and
saving, with 41
percent feeling the
need to save more for
the future.
38
%
41
%
32
%
18
%
GEN-X FINANCE STATS AT A GLANCE
