Minnesota state Rep. Dean Urdahl, jokingly dressed as a Walmart greeter for his next gig, makes his retirement speech at the State Capitol in St. Paul on May 20. (Richard Tsong-Taatarii/The Minnesota Star Tribune)

Generation X is feeling financially pressured.

The economy has been hard on the careers of people aged 44 to 59. They navigated the dot.com crash in the early 2000s, the economic crisis from a dozen years ago, the pandemic and the recent brief but brutal bout of inflation. Adding to the financial stress, retirement looms for the leading edge of the generation, and their financial security is largely dependent on how well they did funding and managing their 401(k)s.

The experience hasn’t been great for many. The 10th annual Advisor Authority report from the Nationwide Retirement Institute noted 56% of Gen Xers surveyed are providing financial support to their parents or children. The demand on their resources from family is a factor in why 1 in 5 say they are unable to save for retirement; 23% have reduced or halted retirement savings; and 16% have tapped into retirement accounts or investments to meet their financial obligations.

Savings are critical for coping with emergencies and for long-term financial security. Yet in recent decades, the message has been to equate preparing for retirement with investing in the markets. The equation has always been somewhat wrong. We’ve always known we shouldn’t rely too much on Wall Street’s promised returns. Instead, we should pay more attention to investing in our human capital — our skills, our knowledge and our education — for the long haul.

Paul Kaplan, former director of research for Morningstar Canada, recently remarked most people tasked with creating a household balance sheet put their financial accounts on one side and liabilities on the other. Yet that’s a “very incomplete picture,” he said. It excludes the value of human capital.

More people in the second halves of their lives are embracing late-life jobs and careers. The work usually offers some flexibility, a good measure of purpose and an income. Working longer isn’t a panacea, of course. Poor health can derail plans. But in many cases, continuing to invest in your human capital will boost household finances later in life.

To map out the job and career possibilities, you can consult with books by authors like Kerry Hannon, Mark Miller, Joe Casey, John Tarnoff, and Marc Freedman. They offer readers a mix of inspiration and practical job advice. Time spent with authors like them will help guide you on your journey to create opportunities that provide both income and meaning.

Chris Farrell is senior economics contributor for “Marketplace” and a commentator for Minnesota Public Radio.