The women of Generation X: will they be prepared for retirement?

In recent years banks, finance companies, investment firms and multi-media outlets have identified financial challenges that could potentially threaten Generation X's (1965-1980) ability to prepare for retirement. However, very little academic attention has been devoted to the retirement preparation of Generation X. This paper examines the financial knowledge and practices of five Canadian women born between 1965 and 1978 using a qualitative approach. The semi-structured interviews offered an in-depth analysis of each woman's life trajectory, which included: education level, employment history, family unit, financial responsibilities, retirement goals and retirement preparation. The results of the interviews identified sevenkey themes: 1)desired age to retirement; 2)retirement education; 3) preparing for retirement; 4) positive and negative circumstances impacting retirement; 5)financial obligations; 6) debt load; and 7) retirement goals and dreams. The research concluded that due to the current economic climate in Canada the women of Generation X may experience challenges as they prepare for retirement.