Generation X (Gen X) - Explained
What is Generation X?
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What is Generation X (Gen X)?
Generation X refers to the generation born before the millennial generation (often called generation Y) and after the baby boomers. Americans who fall between the age group of mid-1960s and early 1980s are called Gen X.
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How makes up Generation X (Gen X)?
Individuals born within the same time frame tend to exhibit common traits that results in their generation being named after a specific trait.
- the Greatest Generation (1901 to 1924),
- the Silent Generation (1925 to 1945),
- the Baby Boomers (1946 to 1964), among others.
A novel by Douglas Coupland that was published in 1991, birthed the name "Generation X".
Generation X is often regarded as the 'in-between'. generation because it overlaps with the Sandwich Generation.
Gen X has a population of about 50 million in the United States.
Research indicates that Generation X may have the following collective attributes:
- Gen X exhibit a higher level of self-direction when compared to Baby Boomers.
- Gen X clients have little time for financial advice, they prefer technological tools that monitor their finance.
- 72% of Baby Boomers trust their financial advisors while only half of Gen Xers feel this way.
- Gen X clients are busier and love performing tasks online.
- 73% of Gen X clients select an advisor based on peer review compared to 57% of Baby Boomers.
- Gen X avoid investment risks unlike baby boomers.