The Baby Boomers get a lot of attention in the financial planning industry when it comes to retirement-readiness, but let’s not forget about two other important generations: Gen X and Millennials.

Gen X, or the “sandwich generation” (between aging parents and growing children), is most at risk financially, according to Northwestern Mutual’s Planning and Progress Study 2015. Gen X has more spenders than savers compared to other generations and is the least likely to have more savings than debt. Meanwhile, Millennials are thinking conservative, preparing early and are more realistic about setting goals. Millennials, or the “old souls,” are confident about their financial future (perhaps overconfident) and are taking a risk-averse approach to get there.

Northwestern’s study compared retirement planning habits of both generations. Here are some of the results:




Source: Money Management Intelligence