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As National Annuity Awareness Month highlights the importance of retirement security, one generation stands at the center of the conversation: Gen X.

Often referred to as the “forgotten generation,” Gen X is now the next generation approaching retirement and many are doing so with fewer guarantee, greater financial pressure, and less confidence than the generations before them. With limited pension access, rising healthcare costs, market volatility, and the financial burden of supporting both children and aging parents, retirement planning for Gen X looks very different.

According to LIMRA, nearly 65 million Gen X Americans are approaching retirement, and are widely considered the least prepared generation for this critical life stage. This reality is driving both consumer urgency and broader industry to focus on the role of protected lifetime income and annuities in retirement planning.

Uncertainty is driving new interest in protected lifetime income

The concern is well-founded.

Research from the 2025 Protected Retirement Income and Planning (PRIP) Study from LIMRA shows only 14% of Gen X consumers have access to protected income from a pension. Just 41% feel confident their retirement savings will last, compared with 62% of Baby Boomers. At the same time, 67% say supporting family significantly impacts their ability to save for retirement.

Yet despite those challenges, Gen X is increasingly open to solutions that provide stability and protected lifetime income. In fact, 69% say they would choose an annuity over the stock market if they inherited $100,000, signaling strong demand for protected-focused retirement strategies.

Record Annuity Sales Reflect a Shift in Retirement Planning

That demand is also reflected in the broader annuity market.

According to LIMRA, U.S. retail annuity sales reached a record $464.1 billion in 2025, marking the fourth consecutive year of record-breaking sales and the ninth straight quarter with more than $100 billion in quarterly annuity sales.

“Favorable economic conditions, expanded distribution, and growing investor demand for protected lifetime income have propelled the annuity market in recent years,” said Bryan Hodgens, senior vice president and head of LIMRA research.

This momentum is not just about market performance, but reflects a larger shift in how Americans are thinking about retirement. As the country moves through “Peak65,” with more than 4 million Americans turning 65 each year, fewer retirees have access to pensions and traditional protected income sources. For Gen X, that gap is even bigger.

Bridging the gap between savings and spending security

National Annuity Awareness Month provides an important opportunity to close the education gap.

Too often, annuities are misunderstood or viewed as overly complex, when in reality they can serve as a practical tool for turning accumulated savings into predictable retirement income. For Gen X, the conversation must move beyond “How much have I saved?” to “How do I make my money last?”

Turning Awareness into Financial Action

Retirement security is no longer just about building wealth, but about creating income that lasts.

This National Annuity Awareness Month, the industry has an opportunity to help Gen X move from uncertainty to action, ensuring the next generation of retirees enters retirement not just with savings, but with a strategy for lifetime income.