However, the financial wellness and retirement preparedness of these gig workers are far from assured--particularly for Gen Xers
, according to a new research paper from Prudential Financial, Inc.
understand employment in a very different way than their predecessors.
Along with the migration of senior and experienced employees will come a demographic shift among the generational groups, which researchers have described as Traditionalists, Baby Boomers, Generation Xers
, and Millennials.
Whatever you call them (I'll just call them early Xers
), the numbers are clear: Compared with every other birth cohort, they have performed the worst on standardized exams, acquired the fewest educational degrees and been the least attracted to professional careers.
While the next generation following the Gen Xers
(Millennials, born 1982 to 2000) are larger in number at 76 million, they are just beginning to enter the workforce and won't be available in this large number for some time to come.
Here's why Gen Xers
are critical to remodelers, how they're different from the generations of homeowners before them, and why their emergence as a powerful remodeling segment demands that you change--or at least reevaluate--how you work with them.
Rick Rogers a CFP with his own firm in Lancaster; Pa., says his approach with Gen Xers
(who tend largely to be the kids of his primary senior clientele) involves a bit 0f a sometimes jarring reality check for that age group.
* Of the four generations surveyed, Gen Xers
and boomers reported the lowest likelihood to use newer shopping, purchase and payment options such as voice recognition (VR) or cashier-less checkout in the future.
12, 2019 - While millennials seem to be the generation most interested in applying their ideals on environmental, social and governance (ESG) issues to their finances, Gen Xers
and baby boomers are also expressing growing interest, according to the ESG Investor Sentiment Study* from Allianz Life Insurance Company of North America (Allianz Life).
and boomers who may have been interested in downsizing could have been hindered by a lack of smaller inventory; or may have been impeded by the increase in multi-generational living these generations are reporting to accommodate the needs of adult children and aging parents.
Fifty percent of Baby Boomers and Gen Xers
have saved or are on track to save $700,000 or less.