Retirement Reality Check:

Rewrite the Memo, Reclaim the Future

Track #5 of the Rock-n-Roll Financial Literacy Series for Gen X
Featured Song: “You Never Give Me Your Money” – The Beatles

 Let’s Be Honest: Retirement Feels… Complicated

If you are Gen X, chances are retirement planning feels like a mix of confusion, dread, and “I will deal with it later.” Our parents told us to work hard, save something, and hope for the best. No one, however, gave us a roadmap. Now we are in our 40s, 50s, or early 60s—and the stakes are real. But here is the truth: It is not too late. We are not behind. We are just ready for a retirement reality check.

This post is your backstage pass to rethinking retirement—without shame, spreadsheets, or financial jargon.

Traditional Retirement

Traditional retirement living refers to an older, relaxed way of life that involves leaving the workforce to enjoy leisure activities like reading, crafts, or gentle socializing, often in age-restricted communities that provide quiet living spaces and communal areas. This concept emphasizes a calm, contemplative environment. Key features of traditional retirement include:

• A focus on relaxation/serene life
• Lower-key activities – arts and crafts, reading
• Age-restricted communities
• Small, easy-to-navigate housing units
• Supportive living – housekeeping, meal prep

Due, in large part, to the extended life expectancy today and the characteristics of the generations approaching retirement today (Gen X..), the concept of reframing retirement presents itself for a reality check.

What Does “Reframing Retirement” Mean?

Instead of providing a formal definition for reframing retirement, I give you a quote from my hero, Slim Sherri Dindal:

Gen X is  ….” not looking for traditional retirement living. Forget those whisper quiet villages with a strict bedtime. We like things bigger, louder, and with a whole lot more flair. We’re plotting a retirement that swaps bingo for dance parties, pottery classes for tattoo sessions by the pool. We’re thinking more like taking abandoned malls and turning them into state-of-the-art geriatric playgrounds with arcades… and nightclubs with DJs blaring our favorite music in the background…pool parties where the drinks flow as freely as our memories of mixtapes and MTV”…

I think the concept of reframing traditional retirement could not be better illustrated

Another reality check: With life expectancy being what it is today, a person retiring today at 63 who lives to 90 years of age, will spend 30% of their life in retirement. I think I can safely say, on behalf of all members Gen X, we do not intend to spend almost one-third of our lives in a rocking chair. Thus, the concept of reframing retirement.

Reframing Retirement Goals for Gen X

Forget the old-school version of retirement:

• Golf every day
• Move to Florida
• Live off a pension

That is not our vibe. Retirement is not an age—it is an era. It is about freedom, flexibility, and doing life on your terms.

Gen X retirement goals might include:

• Starting a side hustle or passion project
• Traveling more (or less)
• Downsizing and simplifying
• Supporting your kids or aging parents
• Volunteering, mentoring, or creating

Reality check: retirement should reflect your values—not someone else’s vision.

The Retirement Accounts You Need to Know

Let’s break down the basics—no jargon, just clarity.

401(k)

• Offered by your employer
• Contributions are pre-tax (lowers your taxable income)
• Grows tax-deferred
• Some employers offer matching (free money—do not skip it!)

Roth IRA

• You contribute post-tax dollars
• Grows tax-free
• You can withdraw in retirement without paying taxes
• Great for Gen Xers who expect to be in a higher tax bracket later

Traditional IRA

• Similar to a 401(k), but you open it yourself
• Contributions may be tax-deductible
• Grows tax-deferred
• Taxes are paid when you withdraw

Catch-Up Contributions

If you are 50 or older, you can contribute extra to your retirement accounts:

• 401(k): Add up to $7,500 more
• IRA: Add up to $1,000 more

Now is the time to turbocharge your savings—especially if you started late or had financial detours.

Reality Check: How Much Do You Really Need?

There is no magic number. But here is a simple formula to start: Aim for 10–12x your annual income saved by retirement age. If you earn $60,000/year, that’s $600,000–$720,000.

Sound impossible? Do not panic. Start where you are.

• Increase your contributions by 1–2% each year
• Use windfalls (bonuses, tax refunds) to boost savings
• Automate everything—set it and forget it
• Research monetizing a current or new hobby
• Consider downsizing your home before retirement

You are not as far off track as you think you are.

Tools That Do Not Suck

Here are a few Gen X-friendly platforms to help you plan:

• Fidelity Retirement Score – Quick snapshot of your readiness
• Vanguard Retirement Calculator – Easy to use, no fluff
• SmartAsset – Personalized retirement planning tools
• Gen X Money Checkup (Lite) – Includes a retirement reality worksheet

DOWNLOAD THE GEN X MONEY CHECKUP (Lite) if you missed it.

The full edition of the Gen X Money Checkup is coming very soon. It is loaded with Money Trackers

Quick Wins to Get Back on Track

• Increase your 401(k) contribution by 1% today
• Open a Roth IRA and set up auto-contributions
• Use catch-up contributions if you are 50+
• Review your retirement goals—what do you really want?
• Schedule a “money minute” to check your progress monthly

Let’s Talk About It

Drop me a line and tell me:

• What does retirement look like for you—real talk?
• What is one thing you wish you started sooner?
• What is your favorite retirement planning tool or hack?

Let’s swap stories, bust myths, and build something better—together.

Final Encore

Retirement Is not a deadline. It is a design. Gen X does not need another lecture. We need tools and clarity. We need a retirement plan that works for our lives—not against them.

Grab your checkup. Reframe your goals. And start building a retirement that feels like freedom—not fear.

Because retirement is not an age—it is an era.
And Gen X? We are ready to make it slap.

Bonus Track: Money Moves Playlist

This week’s vibe:
“You Never Give Me Your Money” – The Beatles
A haunting reminder that no one handed us a plan—but we are building one anyway.

Until next time, remember:

You can’t always get what you want—but if you try sometimes, you just might find… you get what you need.

Tia

**Usually, I ask you to leave a comment for me after a post. Due to, probably, my technological illiteracy, I have been unable to access the comments you post. If I have not responded to one of your comments, this is why and I apologize. Until I resolve this issue, please email your comments to me at retirementrockstars66@gmail.com. I REALLY would love to hear from you. And I will respond.