Gen x faces mounting retirement anxiety as savings struggle against inflation, says Allianz

Generation X is entering the home stretch before retirement, but many are worried they won’t be financially ready.

According to Allianz Life’s 2025 Q3 Quarterly Market Perceptions Study, concerns about inflation and market turbulence are weighing heavily on this cohort, now mostly in their late 40s and 50s, exacerbated by fast fading confidence in the stock market.

Only 19% of Gen X investors say now is a good time to put money in the market, a sharp drop from 30% in the prior quarter and the lowest of any generation surveyed. By comparison, 39% of Gen Z, 36% of millennials, and 29% of baby boomers see opportunity in today’s market. Across all US adults, 30% share that outlook.

The perilous position of many GenXers has been highlighted in several reports recently, including a CFP Board study revealing that financial regrets have cost the typical Generation X American nearly $100,000 and a BlackRock report showing that Gen X workers are the least confident about retirement readiness.

The new Allianz Life report highlights how fear of another downturn is a concern for Gen X, but also for other generations currently.  

More than half of Gen X (54%) believe another market crash could be looming, matching millennials’ concern levels and outpacing both Gen Z (47%) and boomers (48%).

“As Gen X approaches retirement, it is time for them to get serious about what they would like their life to look like after leaving the workforce and how they can achieve it,” said Kelly LaVigne, VP of consumer insights at Allianz Life. “With Gen X worried about the market, it could hinder their ability to secure their ideal retirement. What’s key is that in that fragile decade it’s more important to help mitigate against the risk of loss than to have the potential to realize large gains. Risk management strategies like annuities can help by adding a level of protection into an overall portfolio.”

Inflation is squeezing Gen X retirement plans harder than other generations, with 81% saying they worry they won’t be able to afford the lifestyle they envision. That compares with 75% of Gen Z, 77% of millennials, and 63% of boomers. In addition, 70% of Gen X report they’ve had to cut back on retirement contributions due to higher costs.

More than eight in 10 Gen Xers (81%) worry that tariffs are raising their everyday expenses, a higher rate than any other generation.

“Now is the time for Gen X to really put pen to paper and create a long-term financial strategy for retirement,” LaVigne added. “A financial professional can help develop a strategy that can address concerns about risks like inflation and limited savings. By outlining where you are going in your financial journey, this can help boost your confidence in your ability to get there.”