Perceived Retirement Preparedness of Gen X Women Participating in Employer-Sponsored Retirement Plans

As Generation X (GenX) women near full retirement age, concerns about retirement
preparedness have increased due to limited time to save and greater dependence on
employer-sponsored retirement plans. The purpose of this qualitative single case study
was to explore Gen X women’s perceptions of their retirement preparedness and to
identify themes that influence effective retirement planning. Life cycle theory, the theory
of reasoned action, and vested interest theory ground the conceptual framework for this
study, which together explain how individuals anticipate future needs and engage in
intentional financial behaviors. The study primarily focused on participants’ perceptions
of retirement preparedness and the factors influencing their ability to save. Purposeful
sampling was used to select eight Gen X women who actively contributed to employersponsored retirement plans and intended to retire within 10 years. Data were collected
through semistructured interviews and supplemented with contextual data from the 2020
Health and Retirement Study, the 2021 National Financial Capability Study, and 2021
Form 5500 filings. Data analysis involved identifying patterns using Braun and Clarke’s
six-step thematic analysis framework. Seven themes emerged related to successful
retirement preparedness: (a) necessitates having a clear plan, (b) beliefs about money, (c)
adapting saving behaviors, (d) managing debt, (e) seeking financial knowledge, (f)
managing risk and events, and (g) leveraging employer-sponsored benefits. The
implications for positive social change include the potential for employers, financial
educators, advisors, and policymakers to apply these insights to improve plan design,
education, and support strategies that strengthen retirement security for Gen X women.