Training wheels" for newcomers to wealth services : Starter services with varying pricing structures, usually built around robo-advisor platforms, will become valuable to millennials entering the workforce, less affluent millennials and young Generation X households - wealth firms will need to remember though to have a plan for when the "training wheels" need to come off.
Debt management solutions for indebted households : To help young Generation X and millennial households burdened by debt wealth managers will need to offer solutions built around advice to change saving and spending behaviors, with a focus on cutting debt.
Marketing Financial Services to Generation X
is a new report released by 4K Research & Consulting, LLC, which draws on an online survey conducted by ORC International of 1,000 U.
It is clear, according to Barr, that Generation X
is evolving into a viable group of consumers, as diverse as any other group.
As the lead release from the 15th Annual Transamerica Retirement Survey, one of the largest and longest-running national surveys of its kind, this new research examines current trends among American workers and compares the retirement outlooks of Baby Boomers, Generation X
, and Millennials.
In the Allstate survey, which identifies retirement expectations and savings habits, 30 percent of Generation X
respondents said they are "on track" to reach their retirement financial goals--even though their retirement is decades away.
The four groups studied included the Greatest Generation (ages 66-plus), baby boomers (ages 47 to 65), Generation X
(ages 30 to 46) and Generation Y (ages 19 to 29).
5 million baby boomers are on schedule to retire during the next 10 years and company leadership transitions to Generation X
managers born between 1964 and 1979 who will bring a new, distinct skills set to the workplace.
and concerns of Generation X
to the National Liberty Museum