Hannah Miao

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241 appearances 5 recordings 1 series first heard Oct 2022 last heard Aug 2024

Hannah Miao’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Generation X Is Turning 60, and Many Can’t Afford to Retire · 23 Aug 2024 podcast

Some Gen Xers I spoke with did feel like they're prepared for retirement and did feel like their 401ks set them up.

But of course, they've had to live a bit frugally to make room for those savings throughout their years.

Others who haven't built up as big of a nest egg

really are just saying, I'm planning on working as long as I can.

Many people I talked to said, I'm just going to work until I die, which is obviously a pretty sobering thing to hear.

But Gen Xers also kind of have a bit of that it is what it is attitude.

So that's certainly one strategy that folks are using.

Yeah, so Gen X has witnessed several big market downturns.

Obviously, the 2008 financial crisis was a very defining time.

And many of those members in Gen X were at prime working age and in the prime of their career when that happened.

So if they were impacted negatively during that period,

It took some time to recover from that.

They also witnessed the bursting of the dot-com bubble in the early 2000s, which really hit individual investors pretty hard.

And so when you see these things time and time again, it can make you feel nervous to have your money in the stock market.

Financial markets are a great place

wealth generator for many Americans.

At the same time, it can be volatile.

So it can be hard to see tens of thousands, if not hundreds of thousands of dollars that you've saved over the years evaporate when the market crashes.

One of the things that's interesting is many members of Gen X actually are still holding educational loans.

So the Federal Reserve's Survey of Consumer Finances shows that actually more than a quarter of those Gen X households held education loans.

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