A new survey from Prudential of Americans 55 and older finds that Gen X is falling far short of recommended savings amounts. This is particularly true for the pre-retiree group around age 55, according to the company, which has a median savings of $47,950—only about 10% of the $446,565 Prudential recommends having by that age. (The firm’s rule of thumb is having eight times one’s annual salary stashed away by 55.)

Previous research has found similar results, including one 2023 study from the National Institute on Retirement Security (NIRS), a nonprofit research organization, which found a typical Gen X household had $40,000 in retirement savings, while the average was $153,300, according to Fidelity Investments. (Averages are often skewed by a few wealthier account holders.)

“Most Gen Xers don’t have a pension plan. They’ve lived through multiple economic crises. Wages aren’t keeping up with inflation, and costs are rising,” Dan Doonan, executive director of the NIRS, said when the organization’s study was released. “The American dream of retirement is going to be a nightmare for too many Gen Xers.”

For what it’s worth, Gen Xers seem aware of the shortfalls: It’s the only generation in which a majority believe they won’t be financially prepared for retirement, according to Northwestern Mutual’s 2023 Planning & Progress Study. Gen X, in another recent report, had the largest “wealth gap” of any generation—the difference between what they need to retire comfortably and what they currently have.

‘Significant mental and emotional health challenges’

Fortune has covered the Gen X retirement quagmire extensively, noting that major public policy as well as corporate decisions have made it so that people in this age group are funding much more of their retirement on their own, as opposed to older baby boomers who had much readier access to pension plans. In fact, Prudential’s survey finds 55-year-olds are nearly twice as likely as 65- and 75-year-olds to rely on something like a 401(k) to fund their retirement.

Gen Xers also have more student loan debt than boomers—and often higher balances than millennials thanks to compounding interest—and are much more likely to be financially supporting their adult children or providing care for parents. They’re uncertain about whether they will be able to rely on Social Security.

It’s taking a toll. With the combined stressors of family, work, and retirement on the horizon, “55-year-olds face the most significant mental and emotional health challenges, particularly if they are financially insecure,” Prudential finds. That age group reported being the least satisfied with their lives among all others, and about two-thirds of them said they expect to outlive their savings.

Those 50-plus can save more for retirement, if they are able. While the standard contribution limit for 401(k)s is $23,000 this year, the catch-up limit is $30,500. For IRAs, the 50-plus contribution limit is $8,000 this year as opposed to the standard $7,000.

Of course, maxing out retirement accounts remains difficult for many households. But creating a financial plan to put away even a little more each month can make a major difference come retirement, says Caroline Feeney, CEO of Prudential’s U.S. businesses.

“The upside,” says Feeney, “is that with the right planning and strategy to protect their life’s work, we can ensure this generation is well-prepared to live not only longer, but better.”