Hymans Robertson calls for more workplace guidance amid young people’s financial struggles

Ollie Le Farge (pictured), corporate client manager at Hymans Robertson Personal Wealth, has called for more workplace financial guidance to support young people struggling to save. 

This follows research which found that 80% of UK adults said younger generations are financially worse off now than they were 20 years ago.

Over half (59%) blamed the rising cost of living, while 43% pointed to higher housing costs. 

74% of over 55s said today’s young adults have a much harder time getting ahead financially.

Le Farge said: “It’s clear from our research that it isn’t just young people who feel their generation is under undue financial pressure. 

“All generations recognise the financial strains that are leaving many young people vulnerable and reducing their motivation to build an emergency fund and save for the future. 

“This is striking, as it is often assumed that each generation believes they had just as hard a time financially when they were young and ‘starting out’.”

Le Farge added: “Instead, there is a shared recognition across the population that today’s financial pressures on young people are particularly severe, especially as the cost-of-living crisis remains high.