Help Gen X turn savings into retirement income with annuities

Key takeaways:

• Gen X (ages 45–50) will control $45 trillion in assets by 2030. With the oldest now at age 60, the time for retirement income planning is now.
• Among Gen X investors who don’t currently have financial advice relationships, 80% are open to working with a financial professional.
• With the responsibility for retirement planning falling squarely on their shoulders, Gen X faces significant pressure to convert personal savings into guaranteed income, making annuities a relevant and timely solution.
• Annuities can help address Gen X's top three concerns: inflation (45% very concerned), retirement healthcare costs (33%), and market losses (33%).

1/5/2026 — They've been called the "forgotten generation," but Generation X isn't invisible anymore. Born between 1965 and 1980, this group is now in their peak earning years and confronting a retirement landscape that looks nothing like what their parents experienced.

They're juggling aging parents, college-bound kids, and soaring living costs while racing toward retirement without pensions. Skeptical yet research-driven, Gen X wants straightforward advice and strategies that offer control, not complexity. Annuities provide guaranteed lifetime income, market-loss protection, and inflation safeguards—meeting their most pressing needs and giving advisors a chance to build lasting relationships through clear, solution-focused guidance.

A critical window for engagement

Gen X is approaching retirement with unprecedented challenges: they’ll control $45 trillion in assets by 2030¹, yet only 15% have traditional pensions (down from 38% in 1980)² and Social Security trust funds projected for depletion in 2033. They need guaranteed income streams and are actively seeking guidance.

Our 2023 survey shows a major opportunity: 42% trust financial professionals most, but only 36% work with one³, and 80% of those without advisors are open to starting relationships. This positions Gen X as high-potential, long-term clients with significant assets and decades of planning ahead.

Why Gen X represents your best growth opportunity

Gen X is at peak earning years with 6–20 years of active planning ahead—ideal for building lasting relationships. Our survey focused on investors earning $100K+ with $150K+ in assets, making them prime candidates for comprehensive retirement strategies and solutions like annuities.

They also value professional guidance. Despite their research-oriented nature, 53% say financial professionals are their primary resource for financial education. They're looking for trusted guides to help navigate the complexities of retirement planning.

The planning gaps create clear entry points

Gen X's self-reliance has created gaps that represent immediate retirement planning opportunities:

• 33% lack a written plan for retirement
• 46% have no retirement savings target; they're "just saving"
• 27% expect to rely on working part time in retirement versus only 21% expecting annuity guaranteed income

These gaps represent meaningful opportunities to help Gen X clients gain clarity on their income needs, quantify their savings targets, and understand the role annuities can play in meeting those goals—creating pathways for deepening relationships and expanding your book of business.

Retirement planning for Gen X: Start with what matters most

Gen X has experienced significant market volatility firsthand, from the dot-com bust to the 2008 financial crisis and the COVID-19 recession. As a result, they have a practical understanding of market risk and are particularly receptive to retirement planning strategies that can help address their top retirement concerns:

• 45% are very concerned about inflation
• 36% are concerned about retirement healthcare costs
• 33% fear significant market losses

Retirement income solutions like annuities that offer principal protection, guaranteed income, and growth potential can be positioned as part of a broader retirement income strategy designed to address Gen X's top retirement concerns.

Supporting a "trust but verify" mindset

While Gen X values professional guidance, they also take a proactive approach to verification. Our research shows that 77% of Gen X clients who work with financial professionals still do their own research to validate financial advice.

Financial advisors can leverage Gen X clients' research-oriented nature by providing clear comparisons, transparent reasoning, and educational resources that align with this research-driven mindset. For complex solutions like annuities, linking features to client priorities—income stability, inflation protection, healthcare— can make adoption more likely and meaningful.

Gen X attitudes toward annuities: Positive but unfamiliar

While annuity ownership among Gen X remains modest, sentiment is largely positive. More than 80% of Gen X investors have a favorable or neutral impression of annuities, with just 7% reporting a negative view. However, only 17% say they are very familiar with annuities, highlighting a clear education opportunity.

Post-purchase confidence is exceptionally high: Among Gen X annuity buyers, more than 90% believe their annuity purchase was a good decision—strong evidence you can use when addressing questions like "are annuities worth it?" or "are annuities a good investment?"

When asked which factors most influenced their annuity decisions, Gen X investors pointed to:

• Easy-to-understand features (40%)
• Recommendations from a trusted advisor (39%)
• Customization to meet personal needs (37%)

These preferences reinforce the importance of clear communication and tailored guidance when presenting annuity information to Gen X clients. 

Notably, legacy planning isn’t a top priority (only 38% prioritize leaving an inheritance for future generations) for Gen X. So rather than leading with wealth transfer benefits, advisors may find greater success aligning annuity solutions to lifestyle concerns, such as protecting income, planning for retirement healthcare costs, traveling in retirement, or pursuing hobbies without financial stress.

Opportunities to better serve Gen X women

The gender gap in annuity conversations represents an entry point to build your female client base. According to our research, 45% of Gen X women have never discussed annuities with their advisor, compared to 24% of men. What's more, women are more likely to value advisors who "educate me" (71% versus 44% of men). 

These findings demonstrate the value of initiating income planning conversations proactively, taking an education-first approach, and framing annuities as essential tools for creating retirement income security—particularly for female clients who may live longer or anticipate higher retirement healthcare costs.

Building relationships that endure

Gen X clients value transparency, ongoing education, and partnership. This creates an opportunity for financial professionals to position themselves as trusted resources who support their clients' autonomy while offering structure and clarity:

• Share clear, balanced guidance when discussing how annuities might fit into a client's overall retirement income planning strategy
• Offer follow-up materials that help reinforce key points and support ongoing learning
• Stay engaged by sharing timely updates or insights that keep retirement planning conversations relevant and top of mind

Gen X is a financially significant market facing urgent retirement challenges. They’re motivated and open to guidance, giving advisors an opportunity to deliver personalized strategies. Annuities can help address the very risks they're most concerned about while offering the clarity and control they value.

Financial professionals who meet Gen X where they are—with practical guidance, personalized strategies, and a focus on education—can build lasting relationships while helping these clients move toward a more confident retirement.