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Here are fourmistakesGen Xers are making with their money in the Trump economy.
Its convenient and a central clearing house we use to pay bills via automatic payments.
He explained, But many of us have extra cash sitting here, not offering any meaningful return.
Duransoy said Gen Xers should consider options other than traditional checking and savings accounts to protect their financial future.
This will not keep up with inflation, Duransoy pointed out.
They should look to products like CDs andhigh-yield savings accountswith nation-leading rates to enjoy the benefits of compounding interest.
Betting on Job Security
Many Gen Xers pride themselves on being self-reliant.
However, that DIY mindset can become a blind spot in a rapidly changing economy.
By downplaying industry shifts and delaying skill upgrades, theyrisk losing income and long-term security.
Many now face unemployment and struggle to re-enter a job market that demands digital proficiency and adaptability.
This temptation is one that many may not be able to resist.
They might also consider meeting with a fee-only financial advisor to strategize about taxes, caregiving and multigenerational support.
However, the cost of waiting is steep.
With fewer years left to benefit from compounding, every delay chips away at long-term security.
Automating monthly deposits no matter how modest can build consistency.
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