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.
MainStay conducted the survey of 530 investors between the ages of 23 and 35 in May 2002.