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5 tips to connect with Gen X

There are about 65 million Generation Xers¹ in the U.S. For a number of reasons, they may need your help to be financially ready for retirement.

Timing took a toll

In a 2023 survey, only 17 percent of Gen X workers reported feeling 鈥渧ery鈥� confident they鈥檒l be able to retire comfortably.² Many Gen Xers started saving for retirement when 401(k) plans began replacing traditional pension plans. With early 401(k) plans, there were fewer investment options and less education to help people decide how to invest.

In addition, Gen Xers have saved for retirement in low interest rate environments. As a result, their retirement savings accounts may have been slower to increase in value¹ causing some Gen Xers to wonder if they can retire with confidence.

Connecting with Gen X 

You have an opportunity to help Gen X build their retirement readiness, but how do you reach them? Knowing their overall characteristics may help you connect with them more effectively.

In general, Gen X:

• Falls into the Sandwich Generation 鈥� Unique financial challenges can stem from balancing a career with caregiving and managing finances for multiple generations. Understanding a sandwiched client鈥檚 priorities can help you keep them on track to achieve their retirement goals.

• Is often overlooked 鈥� It鈥檚 often referred to as the forgotten generation because Gen X lies between two larger groups, baby boomers and millennials. But since Gen Xers have been in the workforce for 30+ years, they may be earning higher salaries and making family financial decisions. Recognizing Gen Xers鈥� influence and financial needs could be a smart business strategy.

• Values authenticity 鈥� Gen X has lived through the Cold War (and its end), the birth of the internet, widely publicized celebrity and political scandals and more. As a result, some Gen Xers may seem skeptical. Being authentic and transparent can be important in building trust with this generation.

While understanding what makes Gen X unique may help you better relate to them, these five marketing tips could help you attract Gen Xers and keep them as long-term clients:

1. Establish a relationship

Building rapport with your Gen X clients can be important in fostering loyalty. Relating to them on a personal level and demonstrating how you can make a difference in their lives can help .

2. Remember word-of mouth 

Traditional word-of-mouth techniques can help spread your message and grow your client base. Consider including opinions and reviews from peer groups in your marketing to help add credibility to marketing. Networking  with clients who are parents of Gen Xers could also help you connect.

3. Educate rather than sell

Presenting a 鈥渉ard sell鈥� may deter Gen X. Pushing too hard, which can feel self-serving or insincere, could raise their skepticism. Presenting facts or sharing tools like our can show them where they stand financially and help get them back on track for retirement.

4. Use technology

Gen Xers don鈥檛 always require or have time for a face-to-face meeting. They live and work in the digital age so mobile, social networking, blogs and email can be effective marketing strategies with Gen X. Once you鈥檝e established a client relationship, there are opportunities to use technology in retirement planning.

5. Try traditional marketing methods, too

Since Gen X grew up before the internet existed, they鈥檙e familiar with traditional communication methods. Trying direct mail, print, TV or radio ads with transparent, authentic messages about how you can help them retire financially secure may be successful.

No matter how much Gen Xers have saved for retirement, factors like volatile markets, a longer-than-expected retirement or surprise expenses can impact their retirement readiness. Showing this generation how you can help them retire with confidence could help you create loyal clients for years to come.

Share with your Gen X clients and help them plan for a remarkable retirement.

Insights on 麻豆传媒 Connect. Tips, tools and resources to grow your business by helping clients retire with confidence.

¹鈥滸eneration X (Gen X): Between Baby Boomers and Millennials,鈥� Investopedia, updated July 2, 2024.
²鈥�23rd Annual Transamerica Retirement Survey of Workers,鈥� TRANSAMERICA CENTER FOR RETIREMENT STUDIES庐, July 2023.