The operator $X^{-2}$ does exist and is self-adjoint as it follows from standard spectral theory. Its domain is $$D(X^{-2}) := \left\{\psi \in L^2(\mathbb R, dx) \:\left|\: \int_{\mathbb R} x^{-4} |\psi(x)|^2 dx \right.< +\infty\right\}$$ and thereon
$$(X^{-2}\psi)(x) := x^{-2}\psi(x)\:.$$
The eigenfunctions of the Hamiltonian operator of the harmonic oscillator are of the form $\psi_n(x) = H_n(x) e^{-x^2/2}$ (with ``normalized'' values of the physical quantities, $m,\omega, \hbar$ appearing in the formula of Hamiltonian), where $H_n$ is a polynomial of degree $n$. Therefore only polynomials $H_n$ which can be factorized as $x^2Q_n(x)$ where $Q_n(x)$ is a polynomial of degree $n-2$ define elements of $D(X^{-2})$. The $H_n$ are the the well-known Hermite polynomials. It is known that $H_{2n}(0) \neq 0$ and $H_{2n-1}(x)$ tends to $0$ with the same order as $x$ for $x\to 0$. Therefore no $\psi_n$ belongs to $D(X^{-2})$ and $\langle \psi_n|X^{-2}\psi_n\rangle$ does not exist.
The use of the operators $a$ and $a^\dagger$ is delicate and, in a sense, dangerous for these type of mathematical problems, because identities like $$X^n= c^n(a+a^\dagger)^n$$
only hold in a subdomain $D$ of $D(X^n)$ given by the (dense) finite span of all functions $\psi_n$, even if the restriction of $X^n$ to that subdomain completely determins $X^n$ itself (as $D$ is a core of $X^n$).
However, I suspect that you are interested in $\langle X^{-2} \rangle_{\psi_n}$,i.e., the expectation value of $X^{-2}$ in the state representaed by $\psi_n$.
To this end it is worth stressing that, if $\psi \in D(A)$ (and I henceforth assume that $\psi$ is normalized) then $$\langle A\rangle_\psi = \langle \psi| A \psi\rangle\:.\tag{1}$$
However, the general definition of $\langle A\rangle_\psi$ does not require $\psi \in D(A)$, but $\psi \in D(\sqrt{|A|})$ is sufficient and in this case
$$\langle A \rangle_\psi := \int_{\sigma(A)} \lambda d\mu^{(A)}_{\psi}(\lambda)\tag{2}\:,$$
where $\mu^{(A)}_{\psi}(E) := \langle \psi| P^{(A)}(E)\psi \rangle$
with $E\subset \sigma(A) \subset \mathbb R$ a Borel set and $P^{(A)}$ the spectral measure of $A$, so that $A = \int_{\sigma(A)} \lambda dP^{(A)}(\lambda)$. If $\psi \in D(A)$ which is a subset of $D(\sqrt{|A|})$, it turns out that, as theoretical physicists assume from scratch, (1) holds true,
howerver the true definition of $\langle A \rangle_\psi$ is (2).
In the considered case where $A= X^{-2}$, using the given definitions one finds
$$\langle X^{-2} \rangle_\psi := \int_{\mathbb R} x^{-2} |\psi(x)|^2 dx$$
provided the integrand is absolutely integrable which means $\psi \in D(\sqrt{|X^{-2}|})$. This is the case for $n= 2k+1$ when $\psi=\psi_n$ because $x^{-2} |\psi_{2k+1}(x)|^2$ is bounded in a neighborood of $x=0$ as said above.
Assuming it, one may go on formally. For instance (with $c$ as above)
$$\langle X^{-2} \rangle_{\psi_{1}} = c^{-2} \langle \psi_0| a \frac{1}{(a+a^\dagger)^2} a^\dagger \psi_0 \rangle = c^{-2} \langle \psi_0| (a+ a^\dagger) \frac{1}{(a+ a^\dagger)^2} (a+ a^\dagger) \psi_0 \rangle = c^{-2} \langle \psi_0|\psi_0\rangle =c^{-2}$$
The computation of $\langle X^{-2} \rangle_{\psi_{2k+1}}$ can be arranged similarly starting from
$$\langle X^{-2} \rangle_{\psi_{2n+1}} = \frac{c^{-2}}{2n+1} \langle \psi_0| (a+a^\dagger) a^{2n} \frac{1}{(a+a^\dagger)^2} (a^{\dagger})^{2n}(a+a^\dagger)\psi_0\rangle$$
and taking advantage of CCR.