Rising living costs, low interest rates and the struggle faced by younger people trying to get on the housing ladder continue to put strain on finances. This report by Brewin Dolphin presents the important conversations that families should be having about money and the future.
Key points include:
Millennials are managing to save a higher percentage of their income (13.8 percent) than any other group of adults.
One of the hurdles that stops many Britons putting more aside is that they don’t have clear savings goals.
Many people recognise that they are going to have to draw on assets other than pensions to finance their retirement.
Health problems top the table of financial concerns, with 30 percent saying they worry this will impact their finances in the future.