Is Gen X Really the Loser Generation?

An unattributed article in the May 10th, 2025 issue of The Economist made me angry. It was titled, “Why Gen X is the real loser generation” but the subhead was worse still, “Don’t cry for millennials or Gen Z. Save your pity for those in their 50s.” (Leave it to the elitist editorial board of The Economist to poke fun at people's financial struggles, but I digress, see you at Fight Club! 😝)

The article raised my ire mostly because it was low on empathy and high on mockery, not only about Gen X but of subsequent generations, all of whom are (apparently) in a Mario Kart-style race to the bottom. Joy! But I have to be honest. Maybe I was also angry because the article pointed to some very painful truths that we Gen Xers—the gloriously resourceful, independent, and resilient kids of the 70s and 80s, who came of age in the 90s, and entered the workforce in the years just before and after the turn of the millennium, simply can’t afford to ignore any longer.

Painful Truth #1: Almost one-third of Gen Xers are unhappy

In a 30-country study published by Ipsos in March of 2024, 31% of Gen Xers said they are “not very happy” or “not happy at all,” the gloomiest outlook of any generation. There are very good reasons for this…

Painful Truth #2: Gen Xers are at a “tricky” age

Gen Xers in 2025 are people between the ages of 45 and 60, a time of life that brings many challenges. As a result, many in the cohort have to worry about taking care, not only of their children but of their ailing parents as well, all while contending with the onset of their own health challenges.

Painful Truth #3: Gen Xers took a pay cut in life

Our generation is famous for its rejection of the corporate grind in favor of pursuing a healthier work-life balance. According to some estimates cited in The Economist article, “from the ages of 36 to 40 Gen Xers’ real household incomes were only 16% higher than the previous generation at the same age, the smallest improvement of any cohort.” To make things worse, the cohort was hampered by weak labor markets just as they were hitting their prime earning years. The result was that many Gen Xers around the world took a big income hit over time. This fact is like a wave, it’s consequences reverberating over time.

Painful Truth #4: Gen Xers net worth has suffered

According to The Economist, “Gen Xers have also done a poor job accumulating wealth.” But then again, in a rare display of empathy, the article’s author points out that the cohort didn’t exactly have the advantage of a booming stock market during its prime earning years. Compounding matters is the fact that the financial crisis of 2007-2009 not only made homeownership (a time-tested means of building wealth) more difficult for Gen Xers, it pushed many of those who did own homes into foreclosure.

But wait, there’s more! The Economist article points to the University of Arkansas’ Jeremy Horpedahl who’s conducted an aggregate analysis of Fed data which adds insult to injury:

...at 31, the millennial/Gen Z cohort has about double the wealth that the average Gen Xer had at the same age. Using survey data from the European Central Bank we find suggestive evidence of similar trends in Europe. From 2010 to 2021, millennials in the euro area tripled their nominal net worth, versus less than a doubling for Gen Xers.

Ouch!

Painful Truth #5: Gen Xers have no pension and may not benefit from Social Security

In a final affront to Gen X pride and pocketbooks, the article also notes that the cohort will be the first generation to bear the full brunt of America’s broken pension systems and a social security fund that is projected to be depleted by 2033—just as Gen Xers enter retirement age. Congress has the power and wherewithal to forestall this generational catastrophe but if Trump’s Big Beautiful Bilk passes and lands on Trump’s desk, Medicaid and Social Security will be largely gutted in favor of tax cuts for the already obscenely rich, a group to which—as we’ve already established—most Gen Xers decidedly do NOT belong.

Good grief, Charlie Brown!

As a proud card-carrying member of Generation X, I have to admit: this all hurts; and worries me.

It’s undeniable that our generation, wedged between two enormous cohorts—the Boomers and the Millenials/Gen Zers—was demographically predestined to get the short end of the stick; that the economic winds would not always be at our backs; that our idealism and independence would accrue a high tax and go largely unremunerated.

Acknowledging all that (and it’s a lot!), we’re now faced with a choice; a choice not unlike the one faced by the character NEO in the Gen X classic, The Matrix.

Will you take the blue pill or the red pill?

The blue pill symbolizes remaining in comfortable ignorance, continuing to live in the simulated reality of the Matrix without awareness of the truth. Taking it means waking up and believing whatever you want to believe, effectively ending the story and maintaining the status quo.

The red pill, on the other hand, represents embracing enlightenment and accepting the often harsh and unsettling truth about reality. Taking the red pill means staying in "Wonderland" and discovering how deep the rabbit hole goes—Neo is unplugged from the Matrix and shown the real world, a dystopian reality controlled by machines.

Fortunately, our "loser generation” isn’t facing a future as dystopian as all that. There’s a better way yet possible for us. We have strengths that other generations envy. We have competitive advantages, that if leveraged, can still make our "slacker" dreams come true. Consider the following:

• We may have a few more years behind us—but we carry them with strength, energy, and purpose. We still have the strength to build, the clarity to lead, and the courage to speak up. The world hasn’t heard the last of us—not by a long shot.
• We embrace technology with open arms—and sharp minds. We may not have grown up with it in our hands, but we’ve mastered it on our terms. And because we remember the analog world, we bring perspective that the always-connected generations sometimes lack. We know how to use tech as a tool, not a crutch. We leverage it to build, connect, and grow, without losing ourselves in the endless scroll.
• We came of age in a world that didn’t hand us a roadmap—and we learned to navigate anyway. We wrote in cursive, read books that stretched our minds, and played outside until the streetlights came on. We learned patience before everything was instant, and resilience before it was a buzzword. We know how to think for ourselves, how to speak with conviction, how to take a hit and keep going. We’ve seen enough of life to know what really matters—and enough to spot the noise for what it is. We’re not afraid of hard things. We don’t need permission to lead. And we’ve got a lifetime of experience, insight, and grit that’s ready to serve—not some corporation, but a mission of our own.

You get the picture.

We’ve earned these skills, they weren't handed to us on a silver platter. We can harness and concentrate these abundant strengths to get everything we want; to do work that makes a difference and be paid handsomely for it. Yes, it’s possible, if we dare to dare. Now.

Look here, Gen Xer, lift your head up high. Our generation has another 10 to 25 years to deepen our mark on the world and make up for any lost ground. We can still "retire" like real winners if we so choose, or keep contributing and doing work that matters till we keel over. Solopreneurship, as you already suspect, can be the powerful means to our idealistic and independent ends. If we’re smart about it, we can concentrate all the hard-won knowledge, and skill, and wisdom to write a better ending to our story. In doing so, we'll prove those losers at The Economist dead wrong.