Many Generation Xers struggling to catch up with retirement savings

The oldest members of Generation X are within 10 years of turning 65 years old. Still, according to studies and financial planners, that cohort of Americans trails previous generations in preparing to retire. Members of Generation X, those born between 1965 and 1980, generally accumulated more student debt and often incurred larger credit card bills than members of the Baby Boomer or Silent Generations. As a result, their retirement savings are lagging, and they’re usually not receiving the financial advice they need to catch up. “Generation X is kind of overlooked in the way financial planning advice is given,” Dale Horn, managing director of UBS Financial Services Inc., said.