Among the four mature or maturing generations in the United States, Generation X is the least prepared for retirement, at least according to a new survey.

Trust & Will’s latest annual Estate Planning Report shows 62-percent of Gen X members don't have the planning documents needed to set up planning for their estate in retirement, a worse showing than either Millennials at 58-percent or Generation Z at 54-percent.

It's almost as if the retirement years are sneaking up on Gen X and fewer people see it coming.

Retirement expert and Gen X member Scott Mann says this generation "suffered some major, major market meltdowns, we had the "dot com bust," we had the credit crisis bust and even Covid, some people never got into the stock or bond markets, and many people haven't received raises in a decade and we've had massive inflation" during the Biden years.

"And then there are the people we call the 'sandwich generation,' they're being parents to their kids while also taking care of their own parents," he points out, "so people in my age group have sort of been whipsawed, y'know?"

To those in Gen X who haven't started thinking about retirement, Mann, who hosts the Safe Money show on NewsRadio 740 KTRH, says his first recommendation is to establish an emergency fund of "maybe $50,000 for a husband, wife and two kids -- and on top of that they need to be funding, or getting back to funding, a 401(k) savings plan."

He adds, "and even on top of that, to the extent that they don't make too much income, that they reach a point where they can use a Roth IRA, because you can attach to your checking account a Sweep Account," a bank or brokerage account that automatically transfers excess funds into more money-making high-yield investment accounts that allow for faster income while continuing liquidity.

Just "treat it like another car payment, just make sure it's automatic, make sure that it's continually going into that index fund.

"Those are the components for beginners, for those starting out preparing" for retirement.

It's never too late to get started.