Xers were just entering the workforce when companies started replacing pensions with less-dependable 401(k)s. Those retirement plans took a beating when the dot-com bubble imploded in 2000, and Nasdaq stocks did not recover for 17 years. Next, came the 9/11 terrorist attacks and the wars in Iraq and Afghanistan. Then, just as the Xers were buying their first homes, came the financial crisis of 2008-2009. And while the economy did start to improve, the pandemic hit, along with a surge in interest rates and inflation.

Through it all, however, Gen Xers have persevered. And now, owing to a confluence of factors such as the availability of remote work, the rise of technology, and the as-yet-not-fully-understood impact of longevity, Xers seem poised to reinvent aging itself, and how to spend their so-called retirement years.

If the classic boomer retirement was based on the "three-legged stool" of financial support from Social Security, personal investments and pensions, Gen Xers may try to leverage their health and longevity to create a flexible approach to work and leisure for a more sustainable long-term plan.

Many Gen Xers are making health its own asset class. They put their health front and center, to the point of embedding it in their overall investment strategy. In addition to minimizing health care costs, investing in being physically resilient will support their ability to work longer if necessary — and help to keep their options open.

In that sense, Gen X will benefit from the so-called unretirement trend that some boomer retirees have sparked — with some doing a 180-degree turn-around and going back to full- or part-time work, or not retiring at all. About 20 percent of U.S. workers over age 65 are still employed, according to the Pew Research Center — almost double the share of older adults who were working in 1987 (11 percent), and growing. MP Dunleavey, "How Gen X Could Reinvent Retirement" www.kiplinger.com (Jan. 24, 202X).

Commentary

Whether you are of the Boomer generation or the GenX, much of how you spend your time, resources, and energy as you age may depend on your level of physical activity.

According to the U.S. Centers for Disease Control and Prevention (CDC), every week, adults 65 and older need physical activities that include:

At least 150 minutes (for example, 30 minutes a day on 5 days a week, or 22 minutes a day) of moderate-intensity aerobic activity, such as brisk walking. Or 75 minutes a week of vigorous-intensity aerobic activity, such as hiking, jogging, or running. Or this can be an equivalent mix of moderate- and vigorous-intensity aerobic activity. At least two days of activities that strengthen muscles and improve balance, such as standing on one foot.

Physical activity provides many benefits. It helps prevent and manage chronic diseases, such as heart disease, diabetes, and obesity. Additional benefits for older adults are reduced risk of falling, more years of independent living, and improved brain health.

https://www.cdc.gov/physical-activity-basics/adding-older-adults/index.html

Here are some reasons people postpone retirement:

• The high cost of health insurance and decline in employer retiree health benefits and pensions
• Life expectancy increases means more years spent in retirement
• A desire to accumulate more Social Security or other retirement savings wealth
• Improved emotional well-being and physical health by remaining active
• Work promotes social integration and social support.