Future Outcomes for GenX and Early Millennial Retirees
Using a microsimulation model, this paper follows GenX and Early Millennial Americans between 2020 and 2050. Projections suggest they will find it difficult to maintain or improve their economic circumstances between their work and retirement years. Although GenX and Early Millennial retirees are expected to be better off than current retirees on absolute measures of income, they are expected to be worse off than current retirees on relative measures of inequality, poverty, and replacement rates. Retirement outcomes are projected to significantly worsen for future retirees without college educations and those with weak lifetime employment and earnings, but improve for Hispanics.
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