The oldest members of Gen X, the generation born between 1965 and 1980, are coming into their retirement years. This group, known as the “forgotten” generation, had to punch an actual time clock and were the test subjects for 401(k) retirement plans. Now that their golden years are arriving, are they ready for it?
Gen X Retirement
The Gen X clan had some unique challenges in their lives and careers. The Wall Street Journal opined that Gen Xers are financially worse off than their baby boomer predecessors. In 2022, the “median household net worth of Gen Xers between 45 and 54 years old was about $250,000,” which is “about 7% lower than that of baby boomers at the same age in 2007,” as related in the inflation-adjusted Federal Reserve data. “That was the only age group that experienced a drop in median wealth over the 15-year period.”
Media Culture described Generation Xers as having “a pragmatic, self-reliant, and skeptical outlook” on life and work. This cohort experienced social, technological, and economic issues that changed the world and impacted their lifestyles and beliefs. They were the first to witness the influence of the digital revolution, especially as it correlated to work experiences. They also saw the fall of the Berlin Wall, the economic recession of the 1990s, the introduction of the personal computer, the rise of the Internet, the Gulf War, the Los Angeles riots, and the AIDS crisis, all events that affected not only how they lived their lives but also how they looked to the future and their financial stability.
The Gen X crowd was the first to move from company pensions that promised steady income – if they put in years of service – to 401(k) plans that put their financial destiny in their own hands. Many were not prepared. Plus, early variants of 401(k) plans were not automated and did not have the benefits offered today. Saving and planning for retirement was not as easy, and many Gen Xers are finding themselves at the end of their working career without enough funds to see them through their later years. […]
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At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
