We’ve all heard about Baby Boomers and Millennials, but what about “Generation X?”

Generation X was born between the mid-1960s-1980s. They grew up with John Hughes movies in the background: Pretty in Pink, Sixteen Candles, Ferris Bueller’s Day Off, and The Breakfast Club, and asked themselves if they were a brain, athlete, basket case, princess, or criminal.

So, why do we need to start talking about Generation X now? That’s because out of the three larger generations today (Boomers, Gen X, and Millennials), Gen X is the one least prepared for retirement. Gen X is becoming more and more responsible for their own children and aging parents, both emotionally and financially. With this growing responsibility, Gen X is not planning for their own long-term goals and eventual retirement.

Finding a good financial advisor is a great first start. Someone who will work with you toward your goals, whether that’s retiring at age 60 or being able to plan for long-term nursing care. Second, start thinking of how you are going to plan for the unexpected. Whether that is through an estate plan or by other means, Gen X needs to start planning for the “what if’s” of the world. Remember, you don’t need to be a millionaire to have an estate plan, you just need to get started.