Under 25s unaware of retirement realities
Young adults are looking forward to their senior years, but many are unconcerned about not having enough money to pay for the retirement they envisage, according to recent research.
The study by Prudential revealed that 63 per cent of those aged under 25 were looking forward to taking long holidays, with 58 per cent anticipating freedom to do as they please in their retirement and 51 per cent wanting to live in their ideal home.
Despite these plans, only seven per cent of those questioned had concerns about not having the financial ability to realise these plans.
Ali Crossley, director of lifetime mortgages at Prudential, said: "It is good to see that today's young generation has such a positive outlook regarding their retirement.
"However, the reality of this may be somewhat different if they don't start planning to achieve their retirement aspirations."
A survey by healthcare provider HSA last month revealed that 33 per cent of Britons would not consider working into their retirement years to fund their plans, while 21 per cent do not want to do so but believe it may be financially necessary.
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