Finances should be sorted before you're 30

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Advisers believe the three most important financial planning activities, of saving for retirement, buying a house and saving for the future should all start before a person reaches the age of 26, according to research from Prudential.

A survey of 100 advisers revealed if people haven’t put the basic building blocks of financial security in place before the age of 30, they could face a lifetime of struggling to catch up. The research claims advisers believe you should start a pension by the age of 22, buy your first house before you’re 25 and start to build up savings by the time you reach 26. But Prudential say while this is the ideal view, the reality is rather different, as the average first-time buyer is 34, while the average age to marry, which normally acts as a trigger to sort out finances, is 29 for women and ...

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