Help Gen X clients through the last mile of retirement planning

Key takeaways:

• Many in Generation X have put off retirement planning but are making it more of a priority now that retirement is just around the corner.
• Guidance from a financial professional like you can support your clients’ ability to arrive to their desired destination of a financially secure retirement.
• Help Gen X clients confront fears of outliving their retirement savings with a plan that incorporates guaranteed retirement income.   

12/08/2025 – The financial needs of Generation X (ages 45-60) are emerging as a significant opportunity for financial professionals to build relationships with tomorrow’s retirees. With retirement just around the bend, many Gen Xers find themselves behind in their financial preparations and seeking help for critical needs, such as planning for lifetime retirement income.

Gen Xers are the first generation of workers who didn’t have widespread access to traditional company pensions and were largely responsible for saving for retirement on their own. This helped cultivate a "do-it-yourself" mentality among Gen Xers when it comes to finances, yet many see value in the guidance financial professionals offer.

As part of our Advisory Authority survey series, powered by the Nationwide Retirement Institute^®, we polled Gen X investors about the state of their retirement preparations. We uncovered some key insights that can help you connect with and guide Gen X clients at an important time in their financial lives.

Time to get real about retirement planning

Back in their early adult years of the 1990s, Gen X had a reputation for cynicism and "taking it easy", but since then have resisted these labels by demonstrating resilience and self-reliance throughout their working lives. With retirement, however, many Gen Xers have procrastinated or put off planning for their financial future.

In our survey, over six in 10 non-retired Gen Xers (61%) said they didn’t feel retirement was an urgent priority but rather a distant milestone until age 50 or older. Now that many Gen Xers have crossed that threshold and retirement is becoming more of a reality, the lack of planning is spurring them into action. 

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Among the steps Gen Xers have taken upon realizing that retirement was near, one-third (34%) increased contributions to their retirement accounts, around one-fifth (19%) shifted their investment strategy to reduce risk, and around one-quarter (23%) sought professional financial advice.

The realization that retirement is just around the corner may provide the necessary catalyst for Gen Xers to take planning seriously. Personal experience may offer another—and perhaps stronger—influence on Gen X behavior. In our survey, more than a third of non-retired Gen Xers (37%) said they had observed family members or peers struggle with retirement planning, and that was a primary catalyst for prioritizing retirement planning for themselves.

Economic factors also at work

While many Gen Xers will be motivated to hasten their preparations as retirement nears, anxieties over current or future economic conditions may complicate the planning process. Fears of inflation, for example, have not gone away; more than half of non-retired Gen Xers (56%) believe inflation will increase in the next year, up from 39% six months earlier. 

The rising cost of living can contribute to other Gen X worries, specifically when it comes to outliving the retirement savings they’ve accumulated. According to our survey, one in four Gen Xers (25%) are concerned their savings won’t last more than 14 years into retirement.

Financial fears can compound stress and compel clients to take action—but not always for the better. Higher anxiety could lead clients to make rash or emotional decisions with their finances, or force a change of plans for their desired retirement lifestyle. For example, our survey found that 43% of non-retired Gen Xers think they will need to continue working in some capacity to supplement income out of necessity if they retired in the next 12 months.

As a financial professional, your guidance can help Gen X clients take positive steps to secure their financial future, especially as the countdown to retirement accelerates. One way to help clients confront their fears of outliving their retirement savings is with a plan that incorporates guaranteed retirement income.   

Where to start with Gen X clients

The need for retirement income is common ground where financial professionals and clients can both agree. In our survey, 32% of Gen X investors and 39% of financial professionals cited insufficient retirement income as one of the biggest obstacles to Gen X Investor’s retirement readiness.

A plan for retirement income can also be valuable in helping clients feel prepared for uncertain economic conditions. Half of Gen Xers surveyed said events over the last 12 months have made them more likely to put part of their portfolio into an annuity or other solution that provides guaranteed income.

Financial professionals are finding success in focusing on retirement income planning with Gen X clients. Nearly a third of financial professionals (32%) are increasing or introducing the use of annuities with Gen X clients compared to what they did with their Baby Boomer or older clients. Moreover, 43% are making more frequent contact and adopting more flexible communications approaches with their Gen X clients compared to what they did with their Baby Boomer or older clients, keeping in touch regularly to guide them through the home stretch of retirement planning.

Where to find the support you need

As a financial professional, the guidance you offer to your Gen X clients can go a long way toward helping them arrive at retirement feeling confident about their financial future. 

For your clients, retirement planning can seem like a long and winding road trip that can be successfully navigated with your guidance. As you collaborate with clients to create a multi-year plan and travel alongside them, you are able to provide them with choices and options to pivot when unexpected turbulence arises. Just like a GPS system, these options and alternative routes support a client’s ability to successfully arrive to their desired destination including a secure retirement. 

At Nationwide, we’re the software that powers your GPS. Our intelligence offers a full range of insights, tools and resources you can use to help your Gen X clients plan for the road ahead. Turn to us for ideas to start your planning conversations and solutions for different financial needs, such as generating retirement income.