Party attitude will deliver poor old age.(youngsters suffer from a financial hangover in old age due to their 'live for today --Aplan tomorrow' attitude.)(Brief Article)

Financial Adviser, December, 2004

TODAY'S youngsters will suffer from a financial hangover in old age due to their 'live for today --Aplan tomorrow' attitude.

The Prudential claimed that research it had carried out into the spending and saving habits of 18 to 34 year olds showed that 'party today -- plan tomorrow' was the motto of more than a quarter of young adults.

According to the savings and investment provider, most young people were living a 'fairytale' because they did not want to plan their finances, but expected to retire before they were 60.

When questioned about their financial priorities, only 6 per cent of 18 to 34 year olds said starting a pension was their main financial priority. For 30 per cent it was buying a property, for 29 per cent it was clearing debt,...

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