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News Flash- Gen-X Women Have Saved $400K-Plus

Generation X may have a nebulous name, but female Gen Xers are clear when it comes to their finances, according to a survey by Allstate Financial. Women of the Baby Boom, who range in age from 38 to 57, have saved on average $451,000. Women of Generation X, who range in age from 24 to 37, have saved on average $410,000. Savings include pensions and other company-sponsored plans.

"These numbers tell us Generation X women are thinking about retirement at an early age and hopefully are willing to take the necessary steps, like meeting with a financial specialist, to prepare themselves," said Casey Sylla, president. Generation X women even beat out their male peers, who average only $248,000 in savings. In general, they feel financially independent from men, even if they choose to marry, and feel equally competent to make financial decisions.

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