Generation X: Forgotten no more

• There are 14 million Generation Xers in the UK¹, born between 1965 and 1980, currently aged between 44 and 59. The oldest are due to turn 60 next year, whilst the youngest will reach 50 in 2030.
• Far from being the ‘forgotten generation’, new research² by Leeds Building Society shows that they're set to usher in a new chapter of community focused living in the coming years.
• They have a key role in society. Almost two thirds (61%) of UK Cabinet members belong to Generation X³.
• Many British companies are run by Generation X – the average age of CEOs is 55⁴ and 80% of leaders at the UK’s largest companies belong to this cohort⁵.
• Generation X are cultural powerhouses. Icons belonging to this generation include Oasis’ Gallagher brothers, Kate Winslet, David Beckham and Naomi Campbell.

Generation X are the cultural tastemakers and sit in the driving seat of business and politics, but new research reveals they’re forging a striking path in their personal lives too.

As the first of Gen X – often referred to as the ‘forgotten generation’ – start to turn 60 in 2025, they appear set to redefine how we approach and think about old age.

Their attitudes have been revealed by Leeds Building Society which commissioned research² into how they connect with their communities and finances in three key ways:

• Relationships: Generation X is breaking away from the traditional family unit. The nuclear family is less common than ever, with almost half (47%) currently living in, or happy to live in, multigenerational homes. This shift has financial implications for Gen X who are often bearing the cost of children and parents at the same time. It also tells of a positive move towards greater connection between grandparents and their grandchildren.
• Health: Gen X will prioritise health in a way previous generations haven't: almost half want to or are improving their diets, and 42% want to or are exercising more. This will lead to longer life expectancies and greater expenditure on health foods and gym or sports club memberships.
• Work and money: Gen X will continue to thrive in their careers as they plan for life after work. Despite concerns around digital skills and changing ways of work, Generation X is resilient. Many continue to learn new skills on the job (33%), whilst others consider upskilling or career changes (24%). Generation X won’t roll over and hand the baton to the millennials yet – they still have a mark to make in the professional world.

Andrew Greenwood, Deputy Chief Executive of Leeds Building Society, said: “Gen X’s unique blend of ambition, resilience and supportiveness will be the foundation for communities across the country over the coming years. Our data bears out the idea that this age group is driven to work towards continual improvement, with many planning to upskill and improve their health.

“Rather than being forgotten, Gen X should be recognised for their dynamism, adaptability and emotional intelligence.

“Many Gen Xers can be seen as relationship architects who value quality connections over quantity. Their friends often become their chosen ‘families’, providing rich emotional and practical support and a sense of belonging. That sense of belonging is rooted in a place, be that a home or community.

“Leeds Building Society recognises the contribution of this generation – whether that's in the workplace, in the local community or at home – and knows the important role their finances plays in their lives.”

Read more about what the future holds for Gen X or scroll down for further research² results.

Careers

• Generation X recognises that work can provide an important social network: Over half (51%) feel they have made great friends during their careers.
• However, concerns around the changing world of work are prominent: Almost a quarter (23%) of Generation X worry about their ability to keep up with rapid changes to industry and technology.
• Generation X struggle to have their digital skills recognised at work: 34% believe their digital skills are underestimated because of their age.
• AI is a particular concern: One in five Generation Xers fear that the advent of artificial intelligence could put them out of a job.
• Generation X showcases trademark resilience in the face of change: A third feel they're continuing to learn and develop new skills, whilst 24% are considering starting a second career in a different industry.
• Retiring early is a popular ambition: 34% of Generation X want to retire early, but only 21% feel they'll be able to realise this goal. 21% are concerned that finances will prevent them from being able to retire at the state pension age.

Health

• Generation X has a real desire to improve their health: Nearly half (46%) want to or are improving their diets; and 42% want to or are exercising more.
• The link between mental and physical health is well understood: 19% want to improve physical health to improve mental wellbeing. 11% plan to or already receive professional mental health support.
• Trust in the ability of the NHS to deliver is low: Only half of those who don't anticipate paying for healthcare trust the NHS to meet their needs.

Identity

• Generation X believe belonging is about a place: Half of Generation X say that a place they feel loved, safe or supported is what belonging means to them.
• And identity is about family and friends: 58% believe relationships with family shape their identity; and 35% feel friendships are the most important factor.
• Over half feel their identity has or will change: A change in work life (37%) and a change in home life (30%) were the two biggest reasons why.

Family and relationships

• Generation X are open-handed when it comes to supporting friends and family: Nearly half (47%) support friends emotionally; 52% provide practical support for one another, and 59% support relatives financially. 60% feel their relationships with family are more supportive now than when they were younger.
• However, finances can be a source of friction with family and friends: Over a third (34%) feel that financial worries have negatively impacted their relationships.
• Quality over quantity is valued when it comes to friendships: 63% have fewer friendships now than when they were younger, but only 35% would like to have more friends.
• Multigenerational living is on the rise: 47% of Generation X live in multigenerational homes or would be happy to do so in the future and 33% feel these living arrangements would be a good thing for their relationships with family.

¹Source: Population of the United Kingdom from 1990 to 2022, by generation https://www.statista.com/statistics/528577/uk-population-by-generation/

²Research was conducted by Censuswide between 25 and 27 September 2024 among a sample of 2,003 UK respondents aged 44-75, with results presented in this article by relevant age group.

³Source: Leeds Building Society analysis of members of HM Government Cabinet listed at https://members.parliament.uk/government/cabinet as of October 2024

⁴Source: The numbers behind Britain’s business leaders, Investors Chronicle, October 2023, www.investorschronicle.co.uk/content/7865af35-4cf5-51dd-8db6-d52cca1f78c4

⁵Source: Leeds Building Society analysis of the UK’s 25 largest FTSE listed companies by market capitalisation as at October 10 2024.