The Retirement Guidebook for Gen X
Start here before diving in!
Gen X is getting to the age where retirement is just around the corner. Literally.
If you are over 45 and nearing retirement, you have two options:
Option 1: Be unprepared: You’re winging it and hoping that if you save a little here and there, you may be able to retire someday with the help of Social Security. Otherwise, you can work until you can’t physically do it anymore.
Option 2: Be prepared: Know all of your options and possibly be able to retire early. Even if you don’t retire early, you’ll have the peace of mind that you’ve done the best you can with the best information you can get.
Congratulations! If you’re reading this newsletter, you’re definitely following the path of the second option. I appreciate that you are taking the time to get answers and make smart decisions about your retirement.
But I feel like I’m behind
You may be looking at your retirement account and thinking you are way behind where you are supposed to be—you aren’t alone.
A 2024 report from global asset management firm Natixis Investment Managers reveals that 48% of Gen Xers fear they won't have enough money to enjoy their golden years.
A recent study from Allianz Life Insurance Company of North America says more than 55% of Gen Xers wish they had put more money aside for retirement.
According to recent research by Corebridge Financial, Gen X is the least confident generation regarding funding their retirement. Only 22% of Gen Xers feel assured they won’t outlive their retirement savings. Even more concerning is that just 32% believe they can manage their savings well enough to generate income throughout their retirement years.
And it's this very challenge that I'm here to tackle.
My name is Chris Mielke, and I’m a Gen X project manager who has successfully navigated the retirement puzzle. I retired once when I was 51 (I’m 53 now) and came out of retirement because I was bored to death.
Friends have come to me and asked me for advice on how to plan to retire, and I realized that not only my friends but the entire Gen X generation had significant hurdles when it came to retirement.
I decided to start this newsletter to bring a helpful source of information to help others reach their retirement goals.
The mission
My goal is that after you read this newsletter once a week, you will learn something new that you can apply to your retirement goals and help alleviate your fear of not having a comfortable retirement.
Disclaimer time!
I’m not a financial advisor.
If I could go back in time, I’d probably get a CFP (Certified Financial Planner) certification.
Any article on this Substack is for informational purposes only, it should not be considered financial, tax or legal advice. Consult a financial professional before making any major financial decisions.
Sell me this newsletter
I know you’re wondering - why would you pay for this newsletter?
Here’s where I provide value that hopefully you’ll agree is worth your hard-earned money.
You may not have a financial advisor or someone with whom you can discuss your retirement, but for as little as $50 a year, I can provide you with a knowledge base to help you make better decisions. As our Gen X retirement community grows—you’ll have other people to lean on, confide in, and get some advice from.
If you do have a financial advisor - I’m pretty affordable.
A financial advisor usually charges a fee called a Percentage of assets under management (AUM) of .05-1.25% of your total assets. So, if an advisor charges 1% per year for $100,000 in assets, the fee would be $1,000 per year or $250 per quarter.
My newsletter is starting to look pretty cheap, right?
Plus, you get all the articles, audio (when available), and a Slack channel (when available).
What free subscribers get:
Three weekly free essays
What paid subscribers get:
I’m accepting pledges to see what people would pay for the publication, so it’s all free until I hit 1,000 subscribers.
Planned:
One monthly paid subscriber-only essay
A Slack channel where people can interact on a one-to-one basis and get retirement tips and tricks from the community
Monthly Zoom calls over topics decided by the Slack community
A Podcast with more expertise on retirement than me
Audio readings of the articles (when available)