- Monday, 16 March 2009Britons could be facing debt problems by switching career paths at the wrong time, research has revealed.
Figures from Friends Provident show that one in five people in their early 30s feel they cannot plan for the future due to their career.
And, on average, they believe that 32 is the ideal age at which to switch to an entirely new discipline.
But doing so could result in debt problems in light of Friends Provident's observation that the early 30s is the age when financial demands on an individual reach their peak.
Despite the short-term approach taken by some of those surveyed, the financial services provider notes that many Britons are looking for more security in their workplace benefits.
Research by the pensions firm found that employer contributions to retirement funds are preferred by almost a quarter (22 per cent) of employees over one-off bonuses.
However, by locking funds away until retirement, Britons facing difficulties with consumer debt management could be left looking to alternatives such as IVAs to resolve their predicament.
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