Generation X is entering the home stretch towards retirement, with just six months left before the first Gen Xers turn 60 - but 3 in 10 are worried that they’ll never retire.  

That’s according to recent surveys by Natixis Investment Managers which have found that almost half of Gen X (48%) say it’s going to take a miracle to retire securely. To get there, they are saving an average of 17% from their annual income but half of them say they are burying their heads in the sand and avoid thinking about retirement altogether.

Two critical issues seem to be shaping Generation X’s thinking about retirement - inflation and debt. In the short term, they are coming to grips with the reality of inflation. Overall, 83% of Generation X investors say the recent bout of inflation has revealed just how big a threat rising prices are to their retirement security. Nearly seven out of ten (69%) say inflation has hurt their ability to save for retirement and more than half (55%) report that they are saving less due to higher everyday costs.

On this episode of Morning Shot, Dave Goodsell, Executive Director at the Natixis Centre for Investor Insight shares more.

Presented by: Ryan Huang

Produced & Edited by: Yeo Kai Ting (ykaiting@sph.com.sg)

Graphics credits: planadviser