Key takeaways
Generation X, born between 1964 and 1981, is often referred to as Australia's forgotten middle child. They are homeowners looking to upgrade their property while maintaining a young family and caring for older parents, and are also retirees, with the oldest of their generation set to turn 60 next year.
For many Gen Xs, retirement is still far in the distant future. They prioritised experiences over assets and focused on personal development, career growth, and independence over settling down, which means their financial obligations could continue well into their early retirement years.
Gen-X members are concerned about running out of funds in retirement and the impact of high public debt on financial retirement support. They will need to fund more years of life than previous generations and can't count on an inheritance to fund their retirement.
Start thinking about retirement now, by calculating your net worth and creating a budget. Check your superannuation balance and ensure it's on track with your retirement goals.
Invest wisely in property, shares, or managed funds, and tailor your investment strategy to your risk tolerance and time horizon. Property investment is the most suitable asset class for investment at any age.
Generation X, born between 1964 and 1981 and sandwiched between our baby boomers and millennials, are often referred to as Australia’s forgotten middle child.
The thing is, representing 6.5 million people, this generation accounts for around 25% of Australia’s population.
The majority of this demographic group has reached its peak in terms of income, but many are homeowners looking to upgrade their property while balancing the needs of a young family and caring for older parents.
They are drawn to affluent suburbs with good school facilities and convenient access to aged care facilities, making these locations highly sought-after destinations for this cohort.
And most importantly, they’re becoming retirees, with the oldest of their generation set to turn 60 next year.
If they’re no longer working, next year’s 60-year-olds will be able to access the funds in their superannuation.
In 2030, those same people will turn 65 and will be able to access their super regardless of whether they’re working or not.
In 2032, they’ll turn 67 and, depending on their eligibility, qualify for the age pension.
Considering that they are such a huge portion of our population, this could create a shift in the demographics of our nation.
But there’s a catch…
For Gen-X, ignorance is bliss
Despite the numbers, many Gen Xs still refuse to believe that retirement is anything but far in the distant future.
And that’s understandable.
A large proportion of this generation delayed marriage, children and home buying in favour of lifestyle.
Note: Just like the millennials that followed them, they prioritised experiences over assets and focused on personal development, career growth, and independence over settling down.
This probably means that many in this generation are less advanced when it comes to property and finances than those in the generations before them.
And it also means their financial obligations could continue well into their early retirement years.
A member of Gen X herself, Anne Fuchs, executive general manager of advice, guidance and education at super giant Australian Retirement Trust (ART), told the AFR that many of her counterparts are “in denial [about retirement] because we think we’re much younger than we actually are”.
Being at the peak of their careers and in the thick of family life – or “constantly smashed at home and at work”, as Fuchs put it – means that for many in this generation, financial and retirement planning has taken a back seat.
‘Failing to plan is a plan to fail’
But while not many members of Gen X are actively planning for retirement, it doesn’t mean they’re not concerned about it.
Research from Natixis Investment Managers, quoted in the AFR found that 48% are worried about running out of funds during retirement, and 30% are concerned they will never have enough savings to retire, with rising inflation and growing debts hampering their efforts.
Also, 75% think that high levels of public debt will result in less financial retirement support from the government.
It makes sense too, given Australians are living longer than ever before – over the past 50 years, life expectancy in Australia has increased by 13.7 years for men and by 11.2 years for women.
On average, Gen X had a life expectancy at birth of 69 for men and 76 for women, increasing to 85 for men and 88 for women if they make it to age 65.
And these numbers have two retirement consequences for Gen-X.
- They’ll need to fund more years of life than previous generations.
- They can’t count on an inheritance to fund their retirement, given their parents are also living longer than past generations.
The good news is that those who were able to get into the property market early will have experienced significant price growth.
CoreLogic data shows that 18% of Gen X own at least one residential investment property, and this generation will also be among the first to retire having accumulated a lifetime of superannuation.
The problem is, according to data from ART, the average Gen X super balance is well below where it needs to be for a comfortable retirement.
At ages 45 to 49, the fund’s average member balance is $62,000 shy of where the Association of Superannuation Funds of Australia (ASFA) says it needs to be for a comfortable retirement.
And this gap blows out to $124,000 by age 55-59 when ASFA says people should have $316,000 in super.
By age 67, ASFA recommends singles should have a super balance of $595,000 for a comfortable retirement, while couples should have a combined balance of $690,000.
And in my mind, these figures are much too low to enjoy what most would consider a “comfortable retirement.”
The problem is so few of this generation are seeking personal financial advice or have created a plan to help them achieve the retirement lifestyle that they want.
And as I always say, ‘failing to plan is a plan to fail’.
Many Gen-X Australians are ill-prepared, so they need to start acting today in order to have the chance of having a comfortable retirement.
Start thinking about retirement now: here’s where to start
Planning for retirement is crucial for Gen X in Australia, as it involves ensuring you have the financial stability and lifestyle you want in your later years.
Here are some tips to get you started on planning for your retirement:
- Assess your current financial situation
Start by calculating your net worth, including your assets (property, savings, investments) and liabilities (debts, mortgages).
Then, create a budget to track your income and expenses to identify savings potential.
At this point, you’ll want to check your superannuation balance too, including its recent performance, and ensure that it’s on track with your retirement goals.
2. Set your retirement goals
- Also read:This week’s Australian Property Market Update – Latest Data, State by State July 22nd 2025
- Also read:Melbourne property market forecast for 2025 | Is it a good time to invest in Melbourne?
- Also read:Latest property price forecasts for 2026 revealed. What’s ahead in our housing markets in the next year or two?
- Also read:Brisbane Property Market Forecast [2026] – What’s Ahead & Where to Invest
- Also read:Sydney property market forecast for 2026. Is it a good time to invest in Sydney?
Next, you need to decide what age you want to retire and consider the type of lifestyle you want, such as travel, hobbies, downsizing, etc.
You’ll then need to estimate how much you'll need annually in retirement to cover your desired lifestyle and unexpected expenses.
3. Maximise your superannuation
Consider making additional contributions to your superannuation, either through salary sacrifice or personal contributions.
You also need to review your super fund’s investment options and make sure they align with your risk tolerance and retirement timeline, including comparing fees and performance of different super funds to ensure you’re getting value.
4. Invest wisely
Don’t rely solely on your super to get you where you want to go.
Consider other investment options like property, shares, or managed funds.
Tailor your investment strategy to your risk tolerance and time horizon and as retirement approaches, you might want to shift towards more conservative investments.
Of course, I would always recommend property investment as the most suitable asset class for investment at any age because residential real estate is a high-growth, stable investment that benefits from the power of leverage.
5. Decide how to manage your debt
Aim to reduce or eliminate high-interest debts before retirement.
Consider strategies for paying off your mortgage before retirement, or explore options for managing it during retirement.
6. Consider the Age Pension and other benefits you might be entitled to
Here, you need to understand the eligibility criteria for the Age Pension and other government benefits, which means you need to be aware of how your income and assets affect your eligibility for the Age Pension.
Of course, I’m not suggesting you plan on the government looking after you and your golden years through the pension.
Do you really think they’re going to be able to afford to look after all the ageing Australians?
7. Plan your estate
Create or update your will to ensure your assets are distributed according to your wishes and consider setting up powers of attorney for financial and medical decisions.
8. Seek professional advice
Consult a financial advisor to tailor a retirement plan to your specific needs and goals, including getting advice on tax implications for any investments and superannuation withdrawals.
9. Create a plan
You need to plan to become the person you plan to become. This is where the team at Metropole can help.
While the property markets will create significant wealth for many Australians, statistics show that 50% of those who buy an investment property sell up in the first five years.
And of those who stay in the investment game, 92% never get past their first or second property.
That's because attaining wealth doesn’t just happen, it’s the result of a well-executed plan.
Planning is bringing the future into the present so you can do something about it now!
Just to make things clear...buying an investment property is NOT a strategy!
It's important to start with the end game in mind and understand what you need and what you want to achieve.
And then you have to build a plan, a strategy to get there.
The property you eventually buy will be the physical manifestation of a whole lot of decisions that you will make, and they must be made in the right order
That's because property investment is a process, not an event.
If you’re a beginner looking for a time-tested property investment strategy or an established investor who’s stuck or maybe you just want an objective second opinion about your situation, I suggest you allow the team at Metropole to build you a personalised, customised Strategic Property Plan
When you have a Strategic Property Plan you’re more likely to achieve the financial freedom you desire because we’ll help you:
- Define your financial goals with clarity.
- Assess whether your goals are realistic within your timeline.
- Track your progress and ensure your property portfolio is working for you, not the other way around.
- Maximise your wealth creation through smart property investments.
- Identify and mitigate risks you may not have considered.
And the real benefit is you’ll be able to grow your wealth through your property portfolio faster and more safely than the average investor.
Click here now and learn more about this service and discuss your options with us.
Your Strategic Property Plan should contain the following components:
- An asset accumulation strategy
- A manufacturing capital growth strategy
- A rental growth strategy
- An asset protection and tax minimisation strategy
- A finance strategy including long-term debt reduction and…
- A living off your property portfolio strategy
Click here now and learn more about this service and discuss your options with us.
A final word…
While they won’t like to admit it, the clock is ticking for Gen-X Australians and unless they get all their ducks in a row and plan how their retirement needs to look for them, they’ll miss out.
After all, procrastination only leads to lost opportunity.
