It is well documented that when it comes to personal finances, the millennial generation (to which I belong) are worse off than their parents. However, some older readers of the babyboomer generation may vehemently disagree and point out they were simply shrewder savers. They also faced the challenges of interest rates hitting double-digit territory in 1988 and remaining at such levels until late 1992; moreover, over the past decade savings rates have been cut to the bone.
Millennial women today have far more financial independence than previous generations ever had. It's a little-known fact that we're in the midst of a global $22 trillion shift of wealth to women by 2020, with nine out of 10 women expected to be the sole financial decision-maker in their household during their lifetime.
Saving £1,000 per month should allow you to accumulate a big enough pension pot to retirement income of £26,000.
A think tank has proposed that those working above state pension age should be paying national insurance tax.
A bleak new report has found that a third of millennials could still be renting by the time they claim their pensions.
A Citizens Wealth Fund could help bridge the wealth inequality gap, a think tank has suggested.
Millennials are often told to save more for retirement instead of eating out, but that doesn’t solve the issue of intergenerational inequality.
Preparation should be happening now, not on the eve of your retirement, says James Ward, head of private wealth at Seddons.
Millennials will receive the largest ‘inheritance boom’ of any post-war generation, but there’s a big sting in the tail.
Young workers aged 18 to 21 will be enrolled in company pension schemes for the first time under plans from the DWP.