Housing pips pension to number 1 savings spot

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It’s a tough question for youngsters – do I put all my savings aside to raise a deposit for my first home or should I start putting it into a pension? According to a survey among 18 to 34-year-olds one in three says that housing is their priority; one in ten says that student debt stops them doing anything and a similar number says that they change jobs too often to think about a pension.

The research by Prudential also suggests that one in six believes that home ownership is beyond their reach. The research also suggests that one in five youngsters believes that their parents will give them money towards their first home and that one in ten is still living at home in order to save for a place of their own.

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