MSNBC, November 26, 2007 — Social Technologies Futurist Gio Van Remortel was recently featured on MSNBC.com in the article: For Gen X, Time To Grow Up And Get A Broker.
Reporter Jennifer Alsever wrote:
Most Gen Xers, the oldest of whom are heading into their 40s, are woefully behind in saving for retirement. Nearly half of the 5,000 Gen Xers surveyed by Charles Schwab this year said they are so saddled with debt or live on such tight budgets they can’t even think about saving.
“They’re not a saving generation—they’re spenders,” said Gio Van Remortel, a 36-year-old who studies her generation as a futurist at Social Technologies, a research and consulting firm in Washington.
Indeed, the expenses of a house, car and all the other possessions that go along with being an adult often leave Gen Xers very little to sock away in a 401(k) system that grows money incrementally, said Van Remortel. Even if they are not supersizing their lives and living beyond their means, she said, many Gen Xers—generally defined as those born from 1965 to 1980—carry significant debt due to college alone. Once they have kids, they begin to worry about saving for their college educations, and retirement planning often drops in priority.