40% of workers ages 55 to 65 have no retirement account, AARP finds and the average Gen Xer has saved just $215K Jessica Wong Mon, August 3, 2026 at 8:30 AM PDT 4 min read shutterstock.com / fizkes For many Gen Xers, retirement isn't some far-off milestone; instead it's sitting squarely on the horizon. But a surprising number are approaching their 60s without the nest egg that they might need. About 40% of U.S. workers ages 55 to 65 do not have a retirement account, according to an AARP analysis of private-sector workers. Gen Xers are the generation born roughly between 1965 and 1980, and are often dubbed " the forgotten generation ," being caught between larger Baby Boomer and Millennial generations. Must Read Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 6 ways to build wealth like a landlord without actually being one Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here's what it is and 3 simple steps to fix it ASAP Millionaires under 43 hold only 25% of their wealth in stocks. Here's where their money is actually going But the forgotten generation didn't just forget to save. They've faced real challenges. After all, they became adults during periods of economic uncertainty, including the dot-com crash, the Great Recession and more recent inflation pressures. And, now, the pressure is on. Why so many Gen Xers are behind on retirement savings Gen Xers don't have as many years left to build wealth, and at the same time many of them are juggling mortgages, debt, childcare and expenses to care for aging parents. In fact, they're often also referred to as the "sandwich generation," caught between supporting children while also helping older relatives. Some have even put off retirement to help support their adult children, according to AARP . Unlike many older workers who had traditional pensions, Gen X is the first generation to rely heavily on employer-sponsored defined contribution plans like 401(k)s, as well. That has shifted more of the responsibility onto them for saving, making it even more difficult. For some, the biggest obstacle has been simply getting started. Without access to an employer-sponsored plan, or without enough income left after everyday expenses, saving towards a solid financial foundation can end up falling down the list of priorities. The result? Many workers getting close to retirement age may have little more than Social Security on which to rely. That's why, according to research by Fidelity , the average amount a Gen X adult has saved is roughly $215,000. And for those who do have retirement accounts, balances can vary dramatically. A person who starts saving late may struggle to catch up because they have missed decades of potential investment growth and compounded returns. Story Continues How to boost your retirement savings in your 50s and 60s Workers in their 50s and early 60s still have options to strengthen their retirement outlook. 1....
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