Retirement is coming for Generation X, and they’re starting to feel anxious. Sandwiched between baby boomers and millennials, most Gen Xers were born between 1965 and 1980. The oldest Gen Xers will turn 67 and be eligible for retirement at the end of the decade in 2030.

Not everyone’s thrilled about approaching that life milestone, however. Most Gen Xers worry about the affordability of retirement as interest rates climb and the threat of another recession looms. Here are 17 stats about Gen X retirement from Semya-Moya’s latest study that will make you want to boost your 401(k) contributions.

1. 9 in 10 Gen Xers Have Financial Regrets

Regrets around retirement plans are becoming more common for Gen Xers. 9 in 10 Gen Xers (90%) have financial regrets.

Financial remorse hits Gen Xers especially hard as they retire into economic circumstances that are radically different from when they entered the workforce. Inflation means any retirement dollars saved will not go as far towards everyday purchases. Factor in debt, a poor investment strategy, and overspending, and you have a great picture of what has led to Gen X's financial regrets.

2. 43% of Gen X Wish They Had Saved More

Almost half of Gen X (43%) said their most significant financial regret is not saving enough. Retirement is expensive, and the exact amount needed depends on myriad factors such as pre-retirement income, pension plans, local cost of living, and unplanned costs. The general guidance for retirement savings

42% of Gen X also admit to not understanding exactly how much the average person should have saved for retirement. It’s hard to set savings goals when the targets seem to move further out of reach.

3. One-Third (33%) of Gen X Regrets Not Investing More

Investing in the market has become a primary vehicle for building wealth and retirement savings. One-third of Gen Xers (33%) regret not investing more.

In the past, it may have been enough to invest in a traditional 401(k) plan to meet retirement savings goals. With inflation and escalating living costs, Gen X’s investments in employer-provided retirement plans may not be enough to comfortably retire. Gen Xers with cash on hand can consider other investment opportunities, like investment properties, for additional income.

4. Most Gen X (67%) Started Saving for Retirement After Age 30

About two-thirds of Gen X (67%) waited to save for retirement until after they turned 30. Your 30s are widely considered the start of your prime earning years.

Still, many Gen Xers grew up seeing working adults have pensions and may have underestimated how early they needed to start saving to benefit from compound interest.

5. 60% of Gen X Report Stress Over Retirement Savings

Most Gen Xers (60%) report experiencing some level of stress over retirement savings. Finances can be an emotional burden for any generation, but Gen Xers nearing retirement age can alleviate that stress by identifying ways to control their circumstances.

Even if you’re worried that you didn’t start saving early enough, starting late is better than not starting at all. Gen X can still take advantage of employer-provided 401(k) programs or contribute to Individual Retirement Accounts (IRAs) to bring peace of mind.

6. 58% of Gen X Say They Have Less Saved Than Expected

More than half of Gen Xers (58%) expected to have saved more for retirement as they near eligibility. Gen X grew up during a period of economic turmoil, first with recessions in the 1970s and 80s, and later with the housing market crash and the Great Recession in 2008. Gen Xers who entered the workforce in the late 1980s and 90s may have believed they’d be able to earn and save more during a period of relative economic stability.

7. Most Gen Xers Have Less Than $100,00 In Retirement Savings

Gen Xers are stressed about retirement with good reason: 56% have less than $100,000 saved for retirement. Financial experts recommend a minimum of $550,000 saved to retire comfortably, and 55% of Gen Xers agree.

Why has Gen X saved so little? Many were unable to save as they paid off high-interest debt, such as credit card bills, loans, and layaway programs that ease financial strain during recessions. Some who have bought and sold homes may have lost cash on capital gains taxes. These high-interest rates can keep individuals in a spiral of debt that forces consumers to prioritize solving an immediate problem over saving for a future goal.

8. Almost One-Quarter of Gen Xers Have No Retirement Savings

Retirement is closer for some Gen Xers than for others: 22% of Gen X report having no retirement savings whatsoever. Inflation and the rising cost of living have put retirement contributions out of reach for many. Almost two-thirds of Gen Xers (64%) who stopped saving for retirement altogether say they could not afford to.

Gen Xers without a retirement nest egg can explore life in states with lower costs of living and lower personal income tax, like Florida.

9. Gen X Women Are 53% More Likely to Have No Retirement Savings Than Gen X Men

Financial inequities extend to retirement savings. Gen X women are 53% more likely to have nothing saved for retirement than their male counterparts. Women tend to earn less than men during their time in the workforce, especially if they take on childcare responsibilities, which makes it harder to save for retirement.

Women also generally have a lower level of financial literacy, especially among marginalized groups, which makes it doubly challenging to build toward a comfortable retirement.

10. Married or Partnered Gen Xers Are 20% More Likely to Save for Retirement Than Singles

Married Gen Xers have a slightly more optimistic outlook when it comes to retirement. Married or partnered Gen Xers are 20% more likely to have saved for retirement than their single peers.

Gen X embraced dual-income households more than any previous generation. The benefits of joint finances and cost-sharing for married and partnered Gen Xers made it easier for them to set aside retirement savings.

11. Only 37% of Gen Xers Think They’ll Be Able to Retire at 65

Most Gen Xers want to retire by 65, but only 37% think they’ll be able to. This pessimistic outlook could be because of the historic inflation seen in the past few decades, which has driven up the cost of living in already expensive states like California. The rising cost of everyday goods means any money saved won’t go quite as far in 2023.

12. 1 in 5 Gen Xers Worry They’ll Work Into Their 80s

For some Gen Xers, 80 is the new 65. About 1 in 5 Gen Xers (19%) are not confident they’ll be able to retire before they turn 80. It’s not uncommon for Baby Boomers to work into their 60s and 70s. Because Social Security is not enough for most to retire on, Gen Xers without savings may worry they’ll work past their retirement eligibility.

Even if Gen Xers expect to work later in life, their health may not always allow it. More than half of Gen X (53%) doesn’t expect to be able to retire before age 75, and 1 in 10 Gen Xers believe retirement is out of reach altogether.

13. Almost Half of Gen Xers (44%) Blame Baby Boomers for Economic Climate

Gen X joins millennials in their critique of Baby Boomers. Almost half of Gen X (44%) blames the Baby Boomer generation for contributing to the adverse economic climate. Most Gen Xers (76%) feel that boomers had an easier financial journey than they faced.

Many boomers benefited from pension plans and lower home prices that allowed them to build wealth in the housing market. Gen X entered the workforce too late for employer pensions, and about two-thirds of Gen X (62%) doesn’t think their employers contribute enough to their retirements.

14. Most Gen Xers (80%) Have Some Form of Debt

Almost all Gen Xers (80%) carry some kind of debt. Keeping personal debt under control is an important part of personal finance management. Some debt, like a mortgage on a home, can be a useful part of a financial picture. Other debt, like credit cards or student loans, can quickly hamper efforts to save for retirement.

15. 52% of Gen Xers with Debt Have at Least $10,000 in Non-Mortgage Debt

Among the Gen Xers with debt, over half (52%) have at least $10,000 in debt that doesn’t come from a mortgage. This non-mortgage debt can be credit cards, car payments, personal loans, or other debts that accrue interest.

Having $10,000 of non-mortgage debt can feel overwhelming at any time, especially for those on the brink of retirement eligibility.

16. Almost Half of Gen X (49%) Carries Credit Card Debt Each Month

Credit card debt was the most common type of non-mortgage debt Gen Xers reported carrying. Almost half of Gen X (49%) has credit card debt they carry month-over-month.

Credit cards have some of the highest interest rates of any type of debt. The average credit card interest rate in 2023 is around 24%. Many cards also have annual fees that add to the total cost of a card.

17. About Half of Gen X (47%) Feel Their Finances Are Out of Control

Mounting debt and low savings balances mean almost half of Gen Xers in debt (47%) say they don’t have their finances under control.

Gen Xers feeling overwhelmed can start by finding small ways to control their finances, like setting a budget or exploring a home sale. Taking incremental steps can help Gen Xers feel less stressed as they near retirement.

The post 17 Gen X Retirement Statistics That Will Get You to Start Saving appeared first on Semya-Moya.

Legally consuming marijuana for recreational use was once a dream, but it's now a reality in 21 states. As more states embrace the economic and social benefits of cannabis, some cities have become destinations for new residents and tourists seeking the high life.

Here are the top 10 U.S. cities for stoners in 2023, according to a new collaborative study from Real Estate Witch and Leafly, the leading online cannabis discovery marketplace and resource for cannabis consumers.

1. Portland, Oregon

Even though Oregon wasn’t the first state to legalize recreational marijuana, the state’s outdoor culture and temperate climate make it an excellent home for fans of the leaf.

This West Coast weed haven tops the list with 13.5 dispensaries per 100,000 residents. That's more than any other city in the top 10. Portland also has the lowest average price for high-quality weed, which costs just $210 an ounce.

Portland is also the best city for food trucks, so stoners can enjoy lighting up and munching to their hearts’ content.

2. Denver, Colorado

Colorado was one of the first states to legalize recreational marijuana in 2012, so it’s no surprise that Mile High City is ranked in the top 10.

Denver has embraced recreational marijuana use, and it's become a destination for cannabis-curious tourists from around the country. Personal finance-minded travelers can rest easy. Denver has the second-lowest price, behind Portland, for high-quality cannabis at just $242 an ounce.

Although Denver isn't on the list of best taco cities, stoners with the munchies will find one of the highest per-capita densities of Taco Bell restaurants (11 per 100,000 residents) to satisfy their smoke-induced cravings.

3. Buffalo, New York

Buffalo is one of just two East Coast cities in the top 10, but this chilly upstate locale earned its spot after jumping 14 places from the 2022 study.

Buffalo had a thriving medical marijuana industry before the state legalized cannabis for recreational use in 2021. In 2023, the city has just 3 dispensaries per 100,000 residents, but it boasts 33% more head shops than the average city, showing the demand for weed is alive and well.

Buffalo is one of the most affordable places to buy a house, and it's also one of the most affordable places to purchase high-quality weed. Buyers can expect to pay $270 for a high-quality ounce, which is 10% below the national average price of $316.

4. Seattle, Washington

Washington was one of the first states to legalize recreational weed, along with Colorado.

The state's largest city, Seattle, is famous not only for its coffee, but also its cannabis.

Seattle has 56% more dispensaries than the average U.S. city. It also boasts access to affordable, medium-quality weed, which costs just $201 per ounce.

5. Baltimore, Maryland

The second East Coast city on this list, Baltimore is the most improved weed city from 2022. This historic town jumped from No. 20 in the 2022 edition to No. 5 in 2023.

The medical marijuana industry is strong in Baltimore, where there are 1.2 cannabis-prescribing physicians per 100,000 residents — the most of any city in the top 10.

Recreational marijuana sales can begin in July, and demand is already growing. Among all 50 cities studied, Baltimore ranked second in online search activity for weed-related keywords.

6. Las Vegas, Nevada

Las Vegas has long been a destination for gambling, partying, and partaking in adult recreation. Now, marijuana has become part of the Vegas experience.

There are a number of dedicated dispensaries, and the city ranks first for head shops, with 2.8 stores per 100,000 residents. Locals can also take advantage of low prices for high-quality weed, which costs just $279 per ounce.

This booming market could draw even more tourists to Las Vegas, making investing in rental properties an even more lucrative endeavor.

7. Sacramento, California

California dominates the rest of this list, with Sacramento reigning as the Golden State’s best pot city. This state capital beat out other California metros because of the city's many high-quality dispensaries. There are 4.1 dispensaries per 100,000 residents, and the average dispensary rating is 4.6 out of 5 stars, according to Leafly.

Sacramento is one of the most affordable places to live in California, and it has inexpensive weed prices. A high-quality ounce of marijuana costs just $259.

There's also no shortage of cheap eats for when the munchies hit. Sacramento's concentration of Taco Bells (11.7 per 100,000 residents) is almost double the studied city average of 6.3 per 100,000 residents.

8. San Diego, California

Even though 44% of Americans think San Diego is a top five city for stoners, it comes in eighth on this list. San Diego is known for its high quality of life, where beaches and beautiful weather make it possible to enjoy the outdoors year-round in a smaller community than nearby Los Angeles.

Like Sacramento, San Diego dispensaries have an average of 4.6 stars out of 5 on Leafly. Where San Diego has Sacramento beat, though, is the bounty of taco restaurants. San Diego has 4.7 taco places per capita, perfect for weed enthusiasts looking for a bite to eat.

9. Los Angeles, California

Los Angeles has a high status in the minds of Americans. More than half (58%) think L.A. is one of the best cities for stoners in the U.S.

Even though California is notoriously expensive, the cost of medium-quality weed is slightly lower than the national average — just like the average California real estate commission.

Despite being home to numerous hiking trails, live music venues, and movie magic, L.A. has long been one of the worst cities for commuters in the U.S. Luckily, there are 3 dispensaries per 100,000 residents in Los Angeles, so cannabis connoisseurs won't have to travel far to find one they like.

10. San Francisco, California

San Francisco is home to a piece of marijuana history. Activists in the Bay Area opened the United States' first marijuana dispensary, the San Francisco Cannabis Buyers Club, in 1992.

Weed remains affordable in San Francisco, despite the sky-high cost of living. An ounce of high-quality weed costs $280, which is 12% lower than the national average.

Outdoor activities abound in the Bay Area, but introspective smokers can take advantage of one of the best cities for readers in the country.

The post 10 Dope Places to Get Stoned in 2023 appeared first on Semya-Moya.

Americans spend a lot of time in their cars. Just like home selling, driving culture varies from state to state, but U.S. motorists take immense pride in their driving abilities. Everyone thinks they’re a better driver than motorists in neighboring cities and states.

Are some drivers really better than others? A new study from Clever Move found the 10 cities with the worst drivers based on traffic fatalities, alcohol-related driving deaths, collisions, and more.

1. Jacksonville, Florida

The first of three Florida cities on this list, Jacksonville has the worst drivers in the U.S. The city records the highest number of alcohol-related driving deaths, with 2.9 per 100,000 residents annually.

A complicated convergence of interstate systems means out-of-state travelers and local commuters share the same stretches of highway. That, along with Florida’s 40 to 60 inches of rainfall each year, make for frequent treacherous road conditions.

2. Louisville, Kentucky

Three major interstate systems pass through Louisville, and trucking and shipping are a growing part of the city’s economy. Accidents with large vehicles are more likely to result in injuries and fatalities. In fact, Louisville drivers file insurance claims every nine years, compared to the national average of 11 years, according to Allstate. Louisville also records the third-highest number of annual drunk driving deaths, with 2.5 per 100,000 residents.

3. Orlando, Florida

Orlando is known for its terrible traffic. The city's theme parks, resorts, and tourism industry attracted almost 60 million visitors in 2021, so it’s no wonder locals grow frustrated with out-of-towners who don’t know the roads. Motorists in Orlando experience 23 hard-braking events every 1,000 miles, compared to the average of 19, according to Allstate.

4. Tampa, Florida

The third and final Florida city on this list, Tampa has 10 driving fatalities per 100,000 residents — 51% more than the average city in our study (6.6). Additionally, about 1 in 5 Tampa drivers (20%) are uninsured, driving up the cost of traffic accidents.

The low cost of living in Tampa comes at the high price of hazardous driving conditions. For residents looking to leave Florida drivers in their rearview mirror, it costs about 11.5% of the final sale price to sell a home in the Sunshine State.

5. Nashville, Tennessee

Nashville’s population is exploding, and it was the third-most popular moving destination in 2022, according to a study of moving trends. Maybe new Nashville drivers are in a hurry to get some of the nation’s best BBQ, but one of the best food cities in the U.S. is also among the worst for drivers. Nashville’s high percentage of uninsured drivers (24%) and distracted-driving collisions earn Music City a place on this list.

6. Memphis, Tennessee

Memphis ranks sixth on the overall list but first for annual driving deaths, with 13.3 per 100,000 residents annually. Passengers are legally allowed to consume alcohol in moving vehicles, increasing the risk of distracted-driving accidents. Tennessee Highway Patrol is also taking measures to educate the Memphis population on the dangers of reckless driving practices, such as speeding.

7. Riverside, California

Long considered an affordable alternative to the oceanside communities in Orange County, Riverside is the first California city included on this list. The city also ranks fourth among the worst cities for commuters because of high congestion and accidents on the large, high-speed freeways. Riverside has 9.4 driving fatalities per 100,000 residents annually — 41% more than the studied city average (6.6).

8. New Orleans, Louisiana

New Orleans is known for live music and bustling nightlife, but the old, narrow streets that give the city its charm are difficult to drive on. Inclement weather and frequent flooding also make conditions tricky for even the most skilled drivers. The potential for accidents on New Orleans' streets means drivers pay some of the highest car insurance premiums in the country at $4,087.

What's more, relaxed laws around alcohol come at a high cost. New Orleans has 37% more drunk driving deaths than the average city.

9. Birmingham, Alabama

Birmingham has experienced a renaissance in the past few years, but it still remains a dangerous city for drivers. As a hot market for Alabama vacation rentals, Birmingham boasts an emerging nightlife scene that has drawn out-of-town visitors like never before.

Unfortunately, the lack of public transit means more cars on the road. Birmingham records 12.7 driving fatalities per 100,000 residents annually, the second-highest number on this list.

10. Sacramento, California

Sacramento drivers are experiencing traffic problems that emerge as their city grows. Drivers are filing claims every 7.5 years, which is 3.5 years sooner than the average city on this list.

With bad drivers and a cost of living that's 40% to 50% higher than the national average, many Sacramento residents are considering selling their homes and leaving the Golden State for good.

The post 10 Cities With the Worst Drivers in 2023 appeared first on Semya-Moya.