Gen Xâthe group now in their late 40s and 50sâshould be hitting their stride when it comes to retirement planning. Instead, theyâre running into headwinds. Allianz Lifeâs latest Quarterly Market Perceptions Study1 shows this generation is more rattled than others by inflation, market volatility, and the looming possibility of another crash.
Only 19% of Gen Xers say now is a good time to invest in the market, down sharply from 30% last quarter. Thatâs not just a dipâitâs the lowest confidence level among any generation. For comparison, 39% of Gen Z and 36% of millennials still see opportunities, while boomers come in at 29%. Overall, 30% of Americans feel positive about investing right now.
Itâs not just market timing. More than half of Gen X (54%) fear another crash is around the corner. That puts them on edge alongside millennials, who feel the same, and ahead of both boomers (48%) and Gen Z (47%).
âAs 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,â says Kelly LaVigne, VP of Consumer Insights at Allianz Life. âWith Gen X worried about the market, it could hinder their ability to secure their ideal retirement. Whatâs key is that in that fragile decade itâs 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.â
Inflation Tightens the Squeeze
If the markets bring anxiety, inflation brings real pain. A full 81% of Gen Xers worry they wonât be able to afford their desired retirement lifestyle because of rising costs. Thatâs a higher share than millennials (77%), Gen Z (75%), or boomers (63%).
And the impact is showing up in their savings habits. Seven in ten Gen Xers admit inflation has kept them from putting away as much as they need. Add to that the 81% who say tariffs have pushed living costs higher, and the sense of financial pressure only deepens.
âNow is the time for Gen X to really put pen to paper and create a long-term financial strategy for retirement,â LaVigne urges. âA 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.â
Entering the Fragile Decade
Allianz points to what advisors often call the âfragile decadeââthe 10 years before and after retirement. In this stretch, portfolios are most vulnerable to market swings, and losses can hit hardest.
Thatâs why Allianz is emphasizing risk management. Itâs not about chasing big returns; itâs about making sure a crash doesnât permanently derail someoneâs retirement. Annuities, for instance, can play a stabilizing role in a diversified portfolio.
What This Means for Advisors
For financial professionals, the study is a wake-up call. Gen X clients arenât just nervousâtheyâre facing structural challenges. Inflation has eaten into savings. Confidence in markets is low. And yet, thereâs still time to build resilience into their plans.
The message is straightforward: protection and planning matter more than chasing returns. As LaVigne puts it, âBy outlining where you are going in your financial journey, this can help boost your confidence in your ability to get there.â
A Generationâs Defining Choice
Gen X is entering retirement with unique burdensâcaring for parents, helping kids, managing debt, and now battling high costs of living. Allianzâs data suggests their decisions in the next decade will be pivotal. The fragile decade is here, and for many, the difference between worry and security will come down to whether they act with a planâor drift without one.
Source:
1 "Gen X Nearing Retirement With Worries About Limited Savings, Allianz Life Study Finds | Allianz Life." Allianz Life, 26 Sept. 2025,
