BOSTON (MainStreet) -- The news has been saturated with reports of high unemployment, stagnant wages and worker dissatisfaction since the Great Recession. Even though the economic recovery has improved things overall, most demographics in the United States still seem to be suffering from considerable financial struggles and anxiety -- and none more than those in Generation X.
A report by the financial information and education think tank Financial Finesse found people from Generation X polled as having the most financial worries and suffering the most significant economic setbacks. Generation X -- which includes people 35 to 44 years-old -- lost nearly half its members' savings, or an average of $33,000 per person, after the economic collapse, according to a Pew Charitable Trusts study.
Generation Xers are also the age group that has the most to lose as compared with baby boomers and millennials, as they are the most likely to be maintaining the delicate balance between saving for the future while trying to care for young children and make mortgage and student debt payments -- with more than 60% being married, owning homes and having underage children.
This profile fits George, a 36-year-old insurance industry worker from Ohio, to a T. A married homeowner and father to two young children, George can't contribute fully to his pension due to large student loan and mortgage payments. He lost nearly half his 401(k) in the economic meltdown and his wife, a teacher, had her retirement fund raided by the state.