3 min read

    President's Message: Gen X, We're Here to Help

    By Wasatch Peaks on Jul 1, 2021 8:00:00 AM

    Jeff-Shaw-2018Today I thought I’d talk a little about Generation X, their financial needs and concerns, and how Wasatch Peaks can help. Gen X is generally defined as people born between 1965 and 1980. The oldest members of this group are in their mid-fifties, with things like retirement and estate planning weighing heavily on their minds. I know this because I am a Gen Xer.

    Judging by the statistics, Generation X isn’t doing too well financially. In fact, they seem to be worse off in many regards than the two larger generation they’re wedged between – baby boomers and millennials. Gen X has the highest average debt of any generation, according to credit reporting agency Experian. Nearly half of Gen X workers report living paycheck to paycheck. Gen Xers are also more likely than other generations to say they won’t have enough saved by age 65 to meet their retirement needs.

    Wasatch Peaks would like to help Gen Xers take control of their finances, tackle their debt, plan for retirement, and prepare for emergencies. Wasatch Peaks has a licensed financial advisor available for a no-cost, no-obligation consultation. We have also teamed up with an Attorney to provide free estate planning consultation and low-cost Estate Plans, learn more here.

    The average household credit card debt is over $7,500 and the average credit card interest rate is 16.28%. Wasatch Peaks offers multiple credit cards including rewards and cash back options. All our cards carry interest rates far below those offered by the national credit card companies. We offer consumer, mortgage, and business loans and incredibly low rates as well. If you are suffering under the burden of high interest rate loans, let us see if we can help.

    Many Gen Xers have been in their homes for some time now, and with the recent surge in home prices, they are sitting on quite a bit of equity. Wasatch Peaks has mortgage specialists ready to help you access that equity and put it to work consolidating debt, remodeling your home, or taking a long overdue vacation. We offer home equity lines of credit as well as fixed-rate purchase and refinance options.

    Gen Xers are extremely technologically savvy. We know they want to have access to their accounts right at their fingertips. Our secure online services and mobile apps allow members to conduct most transactions from anywhere in the world.

    From one fellow Gen Xer to another… we can do this! It’s hard to believe we’ve gotten this old, but let’s take control of our financial situation and prepare for the future – it’s coming whether we like it or not. At Wasatch Peaks, we are here for all generations, please let us know how we can help. Visit any of our six Weber County branches, call us at 800-331-7549, or visit us here online and let’s get you back out there!

    Wasatch Peaks

    Written by Wasatch Peaks