Young people will be much less wealthy than their parents – new study

Oct 13, 2014 Blog RSS feed We all know that young people are typically much better qualified than their parents, but did you know that they are likely to be less wealthy. Rather depressing statistics show that regardless of these qualifications, young people now are at the mercy of a significant drop in earnings and seem unlikely to ever be as wealthy as their parents’ generation is. Household wealth is £365,000 less for young people A London School of Economics (LSE) led piece of research put this issue into sharp focus by adding numbers into the equation – the income and assets (median household wealth) of those currently aged 25-34 is £365,000 less than those who fall into the age group 30 years above. These depressing figures show a huge financial chasm that it is most likely going to be impossible for many people to bridge. In fact, a 30 year old today would be required to save £33 a day for 30 years to get anywhere close to the wealth of today’s 60 year olds. And given


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