Gen X Faces Retirement Challenges with Lack of Estate Planning
As the oldest members of Generation X enter their 60s, a significant portion of this demographic is unprepared for retirement due to a lack of estate planning. According to a report by Trust & Will, 62% of Gen Xers have not created essential estate planning documents such as wills or trusts. This trend is part of a broader decline in estate planning across the U.S., with 56% of adults lacking any form of estate planning documentation. The reluctance to engage in estate planning is attributed to the discomfort of contemplating death and the complexity and cost associated with the process. Despite the availability of online services that offer more affordable options, many Gen Xers prefer traditional methods involving attorneys, which are currently in short supply. 
