‘Save early’, ‘be yourself’ and ‘enjoy your life’ are the top pieces of advice over 50s would give to young people today

14 April 2018

Research shows that over 50s most recommend saving for your pension and steering clear of debt.

Top pieces of advice for young people

Our recent survey has found that saving for your pension early is one of the most popular pieces of advice that those aged 50 and above would give to young people today. A large proportion of respondents also recommend living life to the full and steering clear of debt wherever possible.

The research asked 467 men and women aged 50 and above, to provide just one piece of advice that they would like to bestow upon the younger generation, with the benefit of experience. The most common was to start saving money from an early age, with pension concerns high up on the agenda.

A large proportion of the answers provided focused on money or personal finance, indicating that this is a major concern for today’s older generation. Other similar responses included learning a trade and making sound investments that will come to fruition in later life.

Advice around personal generosity and quality of life were also extremely common. Many respondents answered that they would advise young people to ‘enjoy life’ and to ‘seize the day’.

Perhaps the general consensus was best summed up by one particular respondent who, when asked what piece of advice they would give, concisely responded: “Spend a little, save a little and live life to the full.”

Marketing Manager, Emma Simpson, said: “Saving early is obviously good advice for young people today. The sheer number of respondents who gave answers along those lines indicates the importance of financial planning for the future.. We also advocate putting funeral plans in place in advance, as part of your financial and estate planning.

It was pleasing to see that the idea of living life to the full featured so heavily as this is great advice for any young person and, as many of our respondents replied; life’s short, so enjoy it.”

Source: OnePoll research of 467 men and women aged 50 and above on behalf of Ecclesiastical Planning Services, November 2017.