Is it possible to go from living like a character from Sex and the City to living on the streets of the city?

A new study on Generation X - people born between 1961 and 1981 - says that many women are at risk of becoming designer bag ladies.

Actress Sarah Jessica Parker inSex and the the Citywho plays the role of Carrie Bradshaw

The study conducted by Oppenheimer, a mutual fund company, reveals that many young women are suffering from the Carrie Bradshaw syndrome. Carrie (played by actress Sarah Jessica Parker) is the stylish star of HBO's popular Sex and the City series. She writes a sex column for a newspaper, but she dresses as if she owns a media company.

Carrie and other women like her act as if it is more important to look affluent than it is to actually be affluent. The study says 75 percent of them think it's important to look prosperous than to actually have money.

Good Morning America's investment advisor Mellody Hobson says too many women between 18 and 35 live in the here and the now. She says they need to start spending less on DKNY and more on an IRA.

"The study found that 54 percent of women said they expect to accumulate 30 pairs of shoes before they save ,000 for retirement," said Hobson.

What they don't realize is that those 30 pairs of shoes could have a very serious impact on their future.

Hobson says that if a 25-year-old woman invested the approximately she spent on each one of those 30 pairs, assuming there is a 10 percent return on that money, those sandals and boots would be worth ,551 at a retirement age of 65.

Hobson says 47 percent of Gen-X women carry a credit card debt and more than half of the single young women in the U.S. are living paycheck to paycheck, compared to only 42 percent of single young men.

Generation Xers are at the lower rung of the job ladder in terms of seniority, which means they are often the first to lose their jobs during layoffs, said Hobson.

"Because Generation X grew up one of our greatest economic booms, they've been spoiled by good times, and have made assumptions about what would be there for them they shouldn't have," said Hobson.

According to the study, 51 percent of Generation X women didn't know how much they have saved for retirement, wouldn't respond, or had saved less than ,000. However 46 percent of Generation X expects to retire no later than age 60.

(Agencies)