By a Gen X Latchkey Kid

Look, we’re used to being ignored. We’re Generation X. We raised ourselves while our parents were "finding themselves" in the 70s. We were the latchkey kids. The ones who drank from the hose. The last generation to play outside until the streetlights came on. We’ve always been the cynicism generation, the "whatever" generation. But lately, that cynicism feels less like an attitude and more like a survival mechanism. As we hit our 40s and 50s, we are stuck in the middle of a demographic car crash, and the driver, the Baby Boomer generation, is checking their reflection in the rearview mirror while reversing over our bank accounts. The dream of buying a home, retiring at 60, and leaving something for the kids is just that: a dream.

It’s time to call it what it is: We are witnessing the most structurally selfish generation in Australian history. And I’ve got the receipts.

1. The "Free Ride" That Ended Just as We Showed Up

Remember the stories about "struggling" through university in the 70s? It must have been tough living on a full government stipend with zero tuition fees.

The Whitlam Government abolished university fees in 1974. That door stayed wide open for the Boomers. But just as the first wave of Gen X was finishing high school, the door slammed shut. HECS was introduced in 1989.

We were the first generation told that education was a "private benefit" we had to pay for. Meanwhile, the people passing those laws in Parliament had their degrees paid for by the taxpayer.

2. The Housing Casino (Where only the Dealer Wins)

If you bought a house in 1983, the median house price was about 3 to 4 times the average income. Today? It’s over 10 times in Sydney and Melbourne.

The Boomers didn't just get lucky with timing; they rigged the game once they were inside.

  • Negative Gearing: Reinstated in 1987 (just as Boomers were entering their prime investing years).
  • Capital Gains Tax Discount: Introduced in 1999 (turbocharging the investment property boom).

These policies turned housing from a utility into a tax shelter. Now, we compete with our parents at auctions, except they are using the equity from the house we grew up in to outbid our children.

3. The "Sandwich" Squeeze

This is where it gets personal for us. We are officially the "Sandwich Generation."

We are supporting our adult kids (who can't afford rent because of the housing crisis discussed above) and we are caring for our aging parents.

  • 1.5 million middle-aged Australians are in this "sandwich".
  • The "Grey Divorce": Boomers are divorcing at record rates in their 60s. Who picks up the pieces? We do.

4. The Workplace Hog

Ever noticed that the boss just won't leave? Boomers are staying in the workforce longer, which is fine, but many organizations report a lack of "knowledge transfer." They are holding onto the keys to the castle until the very last second.

5. The Wealth Hoard

Let’s look at the pie. Not the American Pie, but the Aussie Wealth Pie.

Households headed by someone over 65 hold a massive chunk of national wealth, and thanks to Tax-Free Superannuation payments for over-60s (another gift they gave themselves), they contribute less to the tax bucket than a Gen X worker on an average wage.

The Verdict?

It’s not that every individual Boomer is selfish, we love our mums and dads. But as a political voting bloc, they have consistently voted to lower their own costs and raise their own asset values, sending the bill to the future.

We’re the ones paying the bill.