Generation X Faces Retirement Savings Crisis

Generation X, often referred to as the 'Silver Squatters,' faces a significant financial crisis as they approach retirement age. A Prudential Financial survey reveals that the median retirement savings for those around 55 years old is only $50,000, leaving many unprepared for their golden years. This cohort, often sandwiched between supporting both their children and aging parents, is increasingly looking to their families for financial support, with nearly 25% relying on their children. The fear of outliving their savings is prevalent, with two-thirds of 55-year-olds expressing concerns about their financial futures. Meanwhile, Erin DeRuggiero, a successful entrepreneur, represents a contrasting narrative, using her retirement to empower others and innovate in health technology. As America grapples with the reality of retirement preparedness, many are left questioning their financial stability and future.