The financial advice industry is most concerned for Millennials (1981-1996) when it comes to seeing them achieve a good level of wealth for retirement, according to industry respondents to a Professional Adviser poll.
The latest PA Asks survey revealed that 48% are most concerned for Millennials (aged 27-42), 42% for Gen X (1965-1980) and 10% for Baby Boomers (1946-1964). One respondent said the cost of housing will take most of the monthly income of Millennials, so they will struggle to put enough into pension. Another added: "This age group [Millennials] is most likely to have difficulty buying a home and will have a lower overall asset base that the other two as they approach retirement. Plus, they are most likely to have to wait far longer for their State Pension." "Whilst any pension is bet...
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