Survey says 80% of Gen Xers and boomers regret not saving sooner. Here’s how to maximize your retirement savings now

As we age, we accumulate memories — and usually a fewer regrets, too.

For galore radical facing retirement, those regrets are related to fiscal decisions made years oregon adjacent decades earlier.

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More than 80% of Gen Xers (born 1965-1980) and boomers (born 1946-1964) regret not starting to prevention oregon enactment successful their employer-sponsored status program earlier successful their moving lives, according to a 2025 survey by Nationwide Retirement Institute (1).

Even those who did commencement redeeming aboriginal often privation they had taken a antithetic approach. More than 80% privation they’d focused connected protecting their savings from marketplace volatility oregon converting assets into sustainable status income, according to the survey. (2)

Many Gen Xers and younger boomers are successful their highest earning years and last accumulation signifier earlier retirement. But if they consciousness down connected their goals, they whitethorn beryllium paralyzed by fearfulness alternatively than taking vantage of the tools disposable to them.

Still, starting precocious does not mean it’s hopeless.

The Nationwide Retirement Institute survey recovered that 54% of Gen Xers and 39% of boomers don’t afloat recognize however compounding works and much than fractional judge their 401(k) volition supply a unchangeable monthly income akin to a paycheck.

If you’re unclear connected investing basics oregon however your 401(k) withdrawals volition enactment successful retirement, MyMoney.gov offers fiscal literacy resources, arsenic bash non-profits similar the Khan Academy (3). There are besides galore idiosyncratic concern books, blogs and podcasts. You could besides speech to a reputable fiscal planner.

Next, instrumentality banal of your existent situation. American adults judge they’ll request $1.26 cardinal to discontinue comfortably, according to a 2025 survey by Northwestern Mutual (4).

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Yet 46% of Gen Xers surveyed and 56% of boomers judge they’re financially prepared for retirement. Meanwhile, 56% of Gen Xers and 40% of boomers accidental it’s astatine slightest somewhat apt they’ll outlive their savings.

Those concerns are understandable. Gen Xers person an mean 401(k) equilibrium of $192,300 and an mean IRA equilibrium of $103,952, portion boomers person an mean 401(k) equilibrium of $249,300 and an mean IRA equilibrium of $257,002, according to Fidelity Investments (5).