The market downturn is taking its toll on Generation X investors, the 52 million Americans born between 1967 and 1981, a survey by MainStay Funds shows. Twenty-two percent of Gen X investors described their investment style as conservative, up from 11% in 2001. Only 20% classified themselves as aggressive investors, down from 36% in 2001. And 38% said the market volatility of the past year has caused them to reallocate their investments.
In spite of recent market conditions, 69% believe their standard of living in retirement will be better than their parents and the majority describe their financial situation as very or somewhat secure, the survey showed.