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When it comes to fiscal responsibility, members of Generation X have a bad reputation. Credit movies like Reality Bites, TV shows like Sex and the City and statistical gems like the recent survey from Oppenheimer Funds in which most Gen X women said they'll accumulate 30 pairs of shoes before they rack up $30,000 for retirement. But some newer research has emerged to show that Gen Xers--the 46 million Americans born between 1965 and 1977--don't deserve their slacker image...
...first place, while they don't save enough for a future that will offer far fewer fixed-benefit pensions, most Gen Xers do save. The 2002 Retirement Confidence Survey from the nonprofit Employee Benefits Research Institute (EBRI) shows that about one-quarter of workers ages 20 to 39 have between $10,000 and $50,000 saved for retirement; 17% have more than that...
...make a mistake? By pulling money out of her 401(k) when the market was tanking? Some might call her prescient. "To Gen Xers, what looks like common knowledge--that you leave your 401(k) alone--is absurd," says author Tulgan. "They think: I don't know about the future. But I know about now. And the money's right there. I'm going to bet it on myself...
...authors offer many examples of trouble spots where generational conflicts are most likely to explode, from recruitment to retirement. To solve them, they say, managers need to appreciate the groups' unique perspectives. For example: "Technology and Gen X-pectations have changed the pace of the game," they write. "Younger workers in particular are no longer willing to wait week after week to find out whether you're planning to make them an offer. Dawdle too long, and they're gone...
...their own: Lancaster, 44, is a sage Boomer, while Stillman, 33, is a spirited Xer. "When we first worked together," Stillman says, "we would bump heads all the time. We came to realize it was really a generational clash." Stillman notes with interest that his group, the Gen Xers, is relatively small (only 46 million, compared with the Boomers' 80 million). That means companies will increasingly be vying for the younger Millennials. Watch out: Britney Spears may be coming soon to a corporate suite near...