While Xers aren’t fixated on retirement needs, they have been smarter than their Boomer parents were about financial planning. They have saved more money than previous generations and have taken advantage of 401 (k) accounts, beginning this investment much earlier in their work life. And they have not waited to put money aside for their children (Endnote 23). Yet Xers are also saddled with significant financial debt. Some of this debt stems from educational loans, but even more is attributed to expensive lifestyle choices. Some 20 percent of Xers are depressed over financial obligations stemming from their lifestyle, and 33 percent are so deeply in debt they will probably never get out (Endnote 24).
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