Retirement bites A Gen X guide to securing your financial future

Yahoo Finance columnist Hannon (In Control at 50+) and journalist Herron urge the 65 million members of Generation X to plan for a successful transition to retirement in this offbeat but practical guide. The authors acknowledge the challenges people born between 1965 and 1980 face. For example, one in four have no retirement account, and 21.2 million carry student loans. However, they also note that more than 70% are homeowners and that Gen X is expected to inherit $30 trillion over the next two decades, in what Hannon and Herron call "The Great Wealth Transfer." The authors lay out a playbook for retirement preparation, showing readers how to create a financial plan, understand their investment options, and increase their income, perhaps by taking on contract or remote work after retiring. They season their advice with pop culture references that will resonate with the intended audience, beginning each chapter with epigraphs from TV shows and movies like Seinfeld and Ghostbusters. The best chapters tackle health care and Social Security; without being alarmist, the authors note the spiraling upward cost of the former and the vulnerability of the latter. They encourage resisting the urge to claim Social Security benefits early and increasing wellness before retirement to reduce health costs down the line. It adds up to an accessible and perceptive overview of the opportunities and difficulties Gen Xers will face in the coming years. (Sept.)