Meet the typical American gene Xer: Debt, wealth, income | MCUTimes

Meet the typical American gene Xer: Debt, wealth, income

If you have not heard much about Gen X, it’s because they are known as “the forgotten generation.

Born between 1965 and 1980, Gen X has fallen into the path of the media darlings they are booked by – millennials and baby boomers. But the Gen Xers are part of a resilient generation that is expected to more boomers in 2028.

They grew up as “latchkey kids” and as adults experienced three recessions and a technological transformation from dot-com boom to social media. Now turning 41 to 56 years old this year, America’s “middle child” is in the middle of it all — middle-aged and mid-career, juggling job of taking care of both children and elderly parents.

This phase of life means that Gen X is in their best working and earning year, with the typical Gen X-led household earn more than any other generation. But it also means a lot of stress. This is a good time to buy large ticket items, such as cars and houses, and with larger-than-average households, Gen X spends most on consumables. It has left them juggling more debt than other generations and unprepared for retirement.

Because of how they grew up and their commitments in mid-life, most Xers feel confident in their ability to resist crises and in their desire for a stable life.

This is what life looks like for the typical Xer.

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