Today's youth dubbed 'forever generation' by Aviva
www.moneynews.co.uk > General finance > Today's youth dubbed 'forever generation' by Aviva
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Today's youth dubbed 'forever generation' by Aviva
Tue 9th Jun 2009
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According to research from the Office for National Statistics, compared to thirty years ago, people are taking an average of seven years longer to commit to major decisions in life.
The figures show that the average first-time buyer is aged 34, more than a quarter of young men aged between 20 and 34 still live in the family home and due to pending alterations in pensions, the typical retirement age by 2046 will be 68.
"There is a risk that without forward planning, today's young adults could end up in a work-to-live cycle for what feels like forever," says Darren Dicks, head annuity propositions for UK Life at Aviva.
He added that as the average life expectancy of Brits is on the rise, it is becoming increasingly important for the 'forever generation' to plan sensibly for a long and prosperous life.
Half of all Brits aged between 20 and 60 are currently failing to add savings to their retirement funds, research undertaken by the BBC last month indicates.
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Related News : General finance |
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Related News : Aviva |
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