- Monday, 14 June 2010Parents need to advise their children to start saving for the future so they will not face financial difficulty or the need for
debt management in later life.
Consumers who begin planning for retirement as soon as possible at a younger age can ensure they have the best chance of having a financially secure future, suggests Sophie Allsopp.
The property expert and presenter said: "The key thing is that parents should advise their children not to put off saving for the future because, to afford the lifestyle that we all want in retirement, you really need to make sure you are doing something about it today."
She added that property is still a good investment but it is wise to also put some money away in a pensions scheme.
New research by Aviva published on June 11th revealed that 88 per cent of people are worried about their children's financial future.
A further 76 per cent stated that the concept of 'my home is my pension' - in which people invest in property to help them through retirement - is too risky with 47 per cent saying it was their priority to get their children to pay into a pensions scheme.
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