Baby boomers are not as prepared as they should be for retirement, but it is Generation X that faces the biggest financial threat in the future, according to a study by Financial Finesse.

The study looked at the financial strengths, weaknesses, opportunities and threats to the Millennials, Generation X, late baby boomers and early baby boomers based on 23,749 employees who answered a financial wellness assessment.

Generation X made improvements to their finances in 2013, but they are behind other generations when it comes to cash management and retirement planning. They are also more vulnerable because they are set to retire just as Social Security is expected to run out of money and they don't have as much time as the younger generations to make up what they will lose from that key retirement program within their 401(k) or IRA, Financial Finesse found.

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