Peter Hoskin

The victims of a lifestyle culture?

The victims of a lifestyle culture?
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new YouGov poll for the DWP confirms the dangers of a lifestyle culture.  The bottom line: many young people now expect to enjoy certain luxuries when they retire, without having to save in the meantime.  

There are, however, signficant regional variations.  84 percent of Scottish under-34 year olds expect the same lifestyle when they retire, compared to 37 percent in Tyne Tees.  Whilst two-thirds in the South-West haven't started saving yet, compared to one-third in Wales.  

When the two factors are combined - to calculate the expectation/saving gap - it's the South-Westerners who top the "head in the clouds" chart:

 

Regions with biggest expectation/saving gap among under-34s

1 South West
2 Scotland
3 West Midlands
4 South East
5 East Midlands
6 North West
7 Yorkshire
8 London
9 Wales
10 Tyne Tees