Gen X more worried about US economy than millennials, boomers

Gen X is also more concerned about inflation (88%) than the other groups (roughly 70%); and less optimistic about their personal finances (56% vs 46% of Millennials and 43% of Boomers).

However, Millennials are out on their own with their views on whether inflation has already peaked; 43% believe it has compared to just 5% of Gen X and Boomer respondents.

Retirement concerns

Asked about retirement, again Gen X shows more concern about both being able to afford to retire when planned and being able to afford expenses in retirement.

Meanwhile, 63% of Millennials are confident they can reach their financial goals despite inflation, compared to 32% of Gen Xers and 40% of Boomers (40%).

With so many concerns, Gen X is the group that is taking the strongest action to mitigate the risks from inflation and are the most likely to have had to cut back on discretionary spending like dining out or entertainment (61%) and essential purchases like groceries or gasoline (41%),or delayed a major purchase like a vehicle or home appliance (39%).

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