Statista reports that around 66 million Americans are members of Gen X. In 2021, they numbered around 65.8 million people, and it’s estimated that this will drop to 63.9 million in 2028.
Generally, the attitude is that baby boomers and Gen X had things easy in terms of employment and being able to easily afford property, which are huge pain points for millennials, zoomers, and older members of Gen A.
The reality isn’t so straightforward, though. It's far more nuanced.
CNN reports that many members of Generation X, the oldest of which are within a decade of retirement, might run out of money after exiting the labor market. As per CNN, 45% of US households risk falling short financially if they retire by the age of 65, and 54% if they decide to retire at 62.
“The shift from defined-benefit pensions to defined-contribution plans left baby boomers and Gen X with less time to accumulate savings,” researchers from Morningstar’s Center for Retirement and Policy Studies explain. According to them, there is a retirement crisis.
Nostalgia marketing is a big driver in business, no matter what generation you’re from. It’s a popular way to sell products (from clothes and toys to technology and food items) that were popular two to three decades ago. The BBC reports that consumers tend to spend more money on brands that evoke nostalgia.
“You don't have to dig through an attic. Content from the last few decades, and even before, is everywhere and so easily remixed,” says the executive strategy director at Brooklyn-based branding firm Red Antler, Liz Juusol. In other words, anything and everything can become content for nostalgia products and content because it's so easily accessible these days.
On the other hand, Krystine Batcho, a professor at LeMoyne College in Syracuse, New York, notes that nostalgia may be less linked to timing and more related to people’s feelings about the difference between the present and the past.
If you feel like something’s missing, you can feel nostalgic, no matter if that thing disappeared “two months ago, two years ago, or 50 years ago.”
What generation are you a member of? What would you say perfectly defines your generation? What are your attitudes toward other gens? Do we have any members of Gen X reading this today?
We’d love to hear from you! Let us know what you think about the posts featured here today, and tell us what you miss the most about the past.
#39 Not Sure If These Are Still A Thing. I've Had These Pencil Grips A Long Time (30+ Years)
