Concerns about market volatility and inflation putting long-term financial security at risk for Gen X

KEY FINDINGS AMONG GENERATION X:

• Only 19% think it is a good time to invest in the market right now
• 54% worry that another market crash is on the horizon
• 70% say they have not been able to contribute as much to their savings due to ongoing inflation

Generation Xers are worried about inflation and market volatility as they approach retirement, according to the 2025 Q3 Quarterly Market Perceptions Study* from Allianz Life Insurance Company of North America (Allianz Life).

Just 19% of Gen Xers think it is a good time to invest in the market right now. This is down from 30% last quarter. It is also the lowest among generations, compared to 39% of Gen Z, 36% of millennials, and 29% of boomers thinking it is a good time to invest right now. Overall, 30% of Americans say it is a good time to invest in the market right now.

At the same time, Gen Xers (54%) and millennials (54%) are more likely than Gen Z (47%) or boomers (48%) to say they worry that another market crash is on the horizon.

“As Gen X approaches retirement, it is time for them to get serious about what they would like their life to look like after leaving the workforce and how they can achieve it,” says Kelly LaVigne, VP of consumer insights, Allianz Life. “With Gen X worried about the market, it could hinder their ability to secure their ideal retirement. What’s key is that in that fragile decade it’s more important to help mitigate against the risk of loss than to have the potential to realize large gains. Risk management strategies like annuities can help by adding a level of protection into an overall portfolio.”

Gen Xers, who are mostly in their late 40s and 50s, are entering a critical time before retiring when savings rates often increase and market volatility can pose the greatest risk.

Inflation limiting Gen X retirement savings

Gen Xers are most worried about the effect of inflation on their retirement strategies. The vast majority of Gen X (81%) say they worry they might not be able to afford their desired retirement lifestyle due to the increased cost of living. Fewer Gen Z (75%), millennials (77%), and boomers (63%) said the same. Across all Americans, 74% have this worry. Gen Xers are also more likely to worry that tariffs will or have increased their cost of living expenses (81%), compared to Gen Z (74%), millennials (73%), and boomers (74%).

Adding to this worry, Gen Xers say inflation has limited their savings. Seven in 10 (70%) of Gen X say they have not been able to contribute as much to their savings due to ongoing inflation.

“Now is the time for Gen X to really put pen to paper and create a long-term financial strategy for retirement,” LaVigne says. “A financial professional can help develop a strategy that can address concerns about risks like inflation and limited savings. By outlining where you are going in your financial journey, this can help boost your confidence in your ability to get there.”

*Allianz Life conducted an online survey, the 2025 Q3 Quarterly Market Perceptions Study in August 2025 with a nationally representative sample of 1,005 Respondents age 18+.

Guarantees are backed solely by the financial strength and claims-paying ability of the issuing insurance company. Registered index-linked annuity guarantees do not apply to the performance of the variable subaccount(s), which will fluctuate with market conditions.

Products are issued by Allianz Life Insurance Company of North America (Allianz). Registered index-linked annuities are distributed by its affiliate, Allianz Life Financial Services, LLC, member FINRA, 5701 Golden Hills Drive, Minneapolis, MN 55416-1297. 800.542.5427 www.allianzlife.com

This content does not apply in the state of New York.

About Allianz Life Insurance Company of North America

Allianz Life Insurance Company of North America (Allianz Life), one of the Ethisphere World’s Most Ethical Companies®, has been trusted since 1896 to help millions of Americans prepare for financial uncertainties and retirement with a variety of innovative risk management solutions. In 2024, Allianz Life provided additional value to its policyholders via distributions of more than $18.6 billion. Allianz Life is a leading provider of fixed index annuities, registered index-linked annuities, and indexed universal life insurance. Additionally, Allianz Investment Management LLC (AllianzIM), a registered investment adviser and wholly owned subsidiary of Allianz Life, offers a suite of exchange-traded funds (ETFs). Allianz Life and AllianzIM are part of Allianz SE, a global leader in the financial services industry with more than 157,000 employees in nearly 70 countries. Allianz Life is a proud sponsor of Allianz Field® in St. Paul, Minnesota, home of Major League Soccer’s Minnesota United.

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