“In addition, it has to be considered that there might not be the option available to work longer if necessary due to ill health, lack of career opportunities, or because of the need to look after sick or elderly relatives.”
Mr Green goes on to say: “We need to revitalize the savings culture of Gen X especially. Otherwise many of today’s working population are going to reach retirement and find they have to downgrade their lifestyle and/or continue working longer than they had expected and hoped, due to a lack of savings.”
The deVere CEO concludes: “It’s never too late to start saving for your future, but of course the earlier you begin, the easier it will be to reach your long-term objectives. As such, the millennials surveyed deserve huge credit.
“There’s a plethora of financial planning solutions that help you achieve financial freedom in retirement at whatever age you are.”