News Flash- Gen-X Women Have Saved $400K-Plus
November 24, 2003
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.
Copyright 2003 Thomson Media Inc. All Rights Reserved.