Thread by @BusinessInsider

Gen X may be best known as America's "forgotten middle child," earning more than the rest but also having more debt, with $136,000.

Meet them here. 👇

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Born between 1965 and 1980, Gen X has fallen to the wayside of the media darlings they're bookended by — millennials and baby boomers.

But Gen Xers are part of a resilient generation that's expected to outnumber boomers in 2028.

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Now turning ages 41 to 56, America's "middle child" is in the middle of it all — mid-age and mid-career, juggling jobs with taking care of both children and aging parents.

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Housing is a key way to build wealth, and Gen X homeowners suffered the most in home equity during the Great Recession.

But while the generation was disproportionately impacted, their wealth rebounded more than other generations.

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Large numbers of Xers have lost income either partially or entirely during the pandemic.

It explains why many have been struggling to keep up with routine household bills.

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This life stage means that Gen X is in their prime working and earning years, with the typical Gen X-led household earning more than any other generation — $106,173.

But it also means a lot of stress.

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An Xer household's average annual expenditures totals $76,788, compared to the $63,036 average.

But they're careful spenders — half reported cutting back on discretionary spending during the pandemic, and they're always on the lookout for discounts.

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In 2016, an Xer's average debt load was $124,972.

But over the next three years, Gen X increased their average debt burdens by nearly $12,000, equivalent to 10%.

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Of the 54.5% of Gen Xers who carry credit card debt, 64.3% are stressed about it.

More than half of Xer respondents said that they were stressed "some" or "a lot" of the time when it comes to any type of debt.

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Financial stress may also stem from the fact that the typical Xer is a caregiver to either their children, their parents, or both.

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Gen X is so busy trying to do it all that they haven't had much time to prepare for retirement.

The typical Gen X household has about $64,000 saved for it — not nothing, but not enough to generate a lot of income.

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Because they're in the middle of all these middle-age commitments, the typical Xer prefers stability and the status quo.

They feel their upbringing has made them able to weather the pandemic better than any other generation.

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