Gen X are stashing the cash – time to invest instead?

When I was in my 30s, living in Bromley, raising a young family and building my career, I wasn’t thinking much about investing outside of pensions. Like many in my generation, life was busy with mortgages, school runs and trying to keep everything afloat. Now, as someone firmly in the Gen X bracket (I was born in 1970), I see first-hand how attitudes to money vary between generations — and how our experiences shape those choices.

Why so many Gen X savers stay cautious

It’s easy to see why people in their late 50s and early 60s often prefer to keep money in cash or ISAs. We’ve lived through recessions, market crashes and wild swings in interest rates. Cash feels certain: it doesn’t jump around on a screen and there’s comfort in knowing it’s there.

But certainty isn’t the same as safety. Inflation steadily erodes the buying power of cash. Research by Just Group found that nearly two-thirds of Gen X with cash savings were holding them in easy-access accounts or ISAs, and almost half said they avoided stocks and shares because they felt they were “too risky.”¹The reality is that doing nothing carries risks too.

Imagine someone like Jane

Imagine a woman in her late 50s — let’s call her Jane. She’s built up over £100,000 across savings accounts and ISAs. She likes the security of cash, but she also wants her money to last through retirement.

I meet many ‘Janes’ in my work. The conversation often starts with reassurance: keeping a solid cash buffer is essential. But then we explore what could happen if inflation continues to eat away at the rest. For some, gently moving a portion into a balanced portfolio — one that matches their comfort with risk — helps strike a better balance. And reviewing things regularly builds confidence that someone is keeping an eye on the plan.

This kind of approach doesn’t remove risk, but it reframes it. Instead of worrying every time the news mentions market volatility, clients often tell me they feel calmer knowing their money is working in the background, while their emergency fund remains safely in cash.

Younger investors are setting the pace

The contrast with younger generations is striking. Surveys show that adults aged 18–34 are around twice as likely to have invested money in the past year compared with those aged over 55.[²] Many younger people even describe keeping everything in cash as the “risky” option.[³]

Technology plays a role — investment apps and workplace pension dashboards make it easy to get started. Our own clients often say how much they value the Quilter app, which lets them view their investments at any time, track performance clearly, and use the CashHub function to move savings between accounts to achieve better rates without the hassle.[⁴]

But mindset is just as important. For younger clients, investing is part of building resilience: saving for a first home, future education or simply keeping ahead of inflation.

Moving forward with confidence

For Gen X, it’s not about copying what younger people are doing. It’s about recognising that while cash has its place, relying on it alone could limit choices later in life. A balanced plan, with the right mix of accessible savings and long-term investments, can help you keep what you’ve worked so hard for safe — while still giving part of it room to grow.

If you’re wondering whether your money is working hard enough, I’d be happy to talk it through.

By Daren Wallbank – Chartered Financial Planner & Co-owner, Ginkgo Financial

Important Information & Risk Warnings

- Capital is at risk: the value of investments can go down as well as up, and you may get back less than you invest.
- Past performance is not a guide to future results.
- Cash deposits may be protected by the Financial Services Compensation Scheme (FSCS), but inflation can reduce their buying power.
- Wills, probate and Powers of Attorney are not regulated by the Financial Conduct Authority.

[¹] Just Group, GenVoices research into Gen X cash holdings (March 2025), reported in FT Adviser.

[²] The Fintech Times, 18–34-year-olds twice as likely to invest as over-55s (2025).

[³] FT Adviser, Younger generations have greater appetite for investing (September 2025).

[⁴] Quilter, Quilter CashHub overview: https://www.quilter.com/products-and-services/cashhub/

Approver Quilter Financial Services Limited Ltd 17/09/25