Many Utah families are struggling with rising living costs, and two groups are feeling the pressure more than most: Gen Xers and Baby Boomers.
According to the 2024 Financial Literacy Survey, 13% of Americans—including many in Utah—are not making enough to cover their basic needs. Another 46% are barely staying afloat. For Utah’s Gen Xers (ages 44-59) and Baby Boomers (ages 60-78), the situation is even more complex. Despite managing to cover their expenses, many are living paycheck to paycheck. Nearly half of Baby Boomers ages 60-64 report they’re just getting by, and half of Gen Xers say they’re struggling to make ends meet.
Gen X is often referred to as the “sandwich generation” because many are balancing care for both aging parents and adult children. In Utah, where the costs of housing and healthcare are on the rise, these dual responsibilities are amplifying financial strain.
Meanwhile, Utah’s Baby Boomers are facing another challenge: retirement. Many spent their working years navigating economic instability, making it difficult to save enough for retirement. Now, with healthcare costs soaring and the senior population growing rapidly in Utah, Baby Boomers are finding themselves financially vulnerable during what should be their golden years.
This financial stress doesn’t just affect bank accounts—it impacts basic survival. Living on fixed incomes, many seniors are forced to make heartbreaking choices between paying for life-saving medications or putting food on the table. Utah Food Bank has stepped in to help. Through programs like the Commodity Supplemental Food Program (CSFP), Utah Food Bank provides much-needed food boxes to seniors like Sherrie. For the past year, volunteers have consistently delivered these food boxes to her doorstep. Recently, one volunteer brought not just food, but a bouquet of roses, a small but meaningful gesture that moved Sherrie to tears.
Utah’s Gen Xers and Baby Boomers are facing unprecedented financial challenges, but Utah Food Bank is there to provide relief. Whether through food, time, or money, every contribution helps alleviate the burden on these vulnerable generations. Together, we can make a real difference in the lives of those struggling to make ends meet.