The phrase highlights urgency or the need to act due to the passage of time. Let's have kids soon; we're not getting any younger.
Pro Tip 2/3
Gentle Reminder
Used to remind someone of their age in a mild way, often to encourage action or decision. Think about buying a house now, since you're not getting any younger.
Pro Tip 3/3
Maturity Awareness
The phrase suggests that with age comes maturity, thus hinting at acting responsibly. Start saving money; we're not getting any younger.