Retirement
How different age groups treat money, marriage, work and children
Baby Boomers, Gen Xers and Millennials have revealed how they approach life’s biggest decisions – money moves, marriage, work and children.

How different age groups treat money, marriage, work and children
Baby Boomers, Gen Xers and Millennials have revealed how they approach life’s biggest decisions – money moves, marriage, work and children.

What is the proper age to get married?
According to comparison site Porch, all three generations believe that 25 is the right age to tie the knot. However, Baby Boomers indicated that their parents’ age of 23 was also a good age to get married.
According to the Australian Bureau of Statistics, the average age to get married in Australia hovers around the age of 32 for both sexes, and has been steadily increasing.
Career goals
Porch suggested that Gen Xers feel the most under pressure to hold down a job. Despite a job at 18 not necessarily being a long-term career, 29 per cent of Gen Xers interviewed believe there’s a need to have a job by 18.
Work: Is it a passion or a chore?
Seventy-three per cent of Baby Boomers said they view their jobs as a career, while 70 per cent of Gen Xers believe the traditional nine-to-five is an obligation. Gen Xers and Baby Boomers are much more likely than Millennials to think their job offers a path to a successful retirement.
Only 50 per cent of Millennials believe a job is a means to an end, with the other believing in the long-term view when it comes to careers.
Buying a home
The generational divide is apparent when it comes to the right age to purchase a property.
Millennials thought 30 was a good age to enter into a mortgage, while Gen Xers believe it’s 28 and the Baby Boomers think 27 is an appropriate age to sign on the dotted line.
However, all three generations noted that desire and financial ability might not match.
Having children
Millennials and Gen Xers that participated in Porch’s survey believe that 28 is the correct age for a couple to have their first child.
The survey further suggested that Baby Boomers make life decisions slightly earlier, with 26 the suggested age to have children.
This email address is being protected from spambots. You need JavaScript enabled to view it.
About the author

About the author


Retirement Planning
Retirement time bomb requires complex thinking
The majority of Australia’s super assets now sit in the hands of retirees and pre-retirees, but many require more nuanced investment strategies to achieve the lifestyle they want in retirement, a ne...Read more

Retirement Planning
Why some Millennials are struggling to save for retirement
Millennials are struggling to save for retirement as they face challenges that are different from other generations. What are these reasons? ...Read more

Retirement Planning
Retirement Income Review cornerstone ‘not for everyone’
Despite being the cornerstone of the Retirement Income Review, an expert has highlighted that downsizing and withdrawing equity from a property might not be the solution for all older Australians. ...Read more

Retirement Planning
Effective tips that can help Millennials retire faster
Millennials have changed the cultural and societal landscapes of the world. This is unsurprising, given the fact that they are the best educated and most diverse generation in history. ...Read more

Retirement Planning
What you need to know to get ahead financially
Australians looking to get ahead are being advised to analyse their financial situation, set financial goals and reduce debt whenever possible. ...Read more

Retirement Planning
How to adjust your wealth strategy during COVID
Investors are being urged to be conservative about spending, reduce debt and be careful of assets that are supported by government spending, as they look to adjust their wealth strategies during the f...Read more

Retirement Planning
Should older Australians downsize their property?
Older Australians face the dilemma of not being confident about their retirement outcomes, but are among the wealthiest retirees in the world due to a large proportion of their wealth being tied up i...Read more

Retirement Planning
Self-funded retirees ‘hung out to dry’ by 2020 budget
The Association of Independent Retirees has slammed last night’s federal budget release, accusing the government of overlooking older Australians in its post-COVID-19 recovery plans. ...Read more

Retirement Planning
Retirement time bomb requires complex thinking
The majority of Australia’s super assets now sit in the hands of retirees and pre-retirees, but many require more nuanced investment strategies to achieve the lifestyle they want in retirement, a ne...Read more

Retirement Planning
Why some Millennials are struggling to save for retirement
Millennials are struggling to save for retirement as they face challenges that are different from other generations. What are these reasons? ...Read more

Retirement Planning
Retirement Income Review cornerstone ‘not for everyone’
Despite being the cornerstone of the Retirement Income Review, an expert has highlighted that downsizing and withdrawing equity from a property might not be the solution for all older Australians. ...Read more

Retirement Planning
Effective tips that can help Millennials retire faster
Millennials have changed the cultural and societal landscapes of the world. This is unsurprising, given the fact that they are the best educated and most diverse generation in history. ...Read more

Retirement Planning
What you need to know to get ahead financially
Australians looking to get ahead are being advised to analyse their financial situation, set financial goals and reduce debt whenever possible. ...Read more

Retirement Planning
How to adjust your wealth strategy during COVID
Investors are being urged to be conservative about spending, reduce debt and be careful of assets that are supported by government spending, as they look to adjust their wealth strategies during the f...Read more

Retirement Planning
Should older Australians downsize their property?
Older Australians face the dilemma of not being confident about their retirement outcomes, but are among the wealthiest retirees in the world due to a large proportion of their wealth being tied up i...Read more

Retirement Planning
Self-funded retirees ‘hung out to dry’ by 2020 budget
The Association of Independent Retirees has slammed last night’s federal budget release, accusing the government of overlooking older Australians in its post-COVID-19 recovery plans. ...Read more