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Generation Xers lag in retirement savings; On track to replace just 54% of income, survey shows.(News)

Investment News, March, 2007

Byline: Kathie O'Donnell BOSTON - Generation X households are on track for a 46% pay cut when they hit retirement, steeper than the 38% drop baby boomers are likely to face, according to a survey that Fidelity Investments released this month. Working American households where a Gen Xer - which Fidelity defines as those ages 25 to 42 - is the financial decision maker are on pace to replace 54% of their pre-retirement income once they retire, according to the Fidelity Research Institute, which the Boston-based mutual fund giant recently created to study personal-savings issues.

By contrast, the typical working American household is on pace to replace 58% of pre-retirement income, while households of baby boomers - defined by Fidelity as those ages...

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