Following a survey of the country’s financial advisers, the Pru believes that a pension plan, a spot on the housing ladder and the beginnings of personal savings should all be underway before we turn 30.
The majority of advisers believe that ideally, a pension should have begun by the age of 22 and a first house bought by 25.
The start of a savings pot should have begun by the age of 26, they assert.
With the average person in fact making it to 34 before buying their first house, Prudential believes that young people may face a lifetime of debt unless they make major financial decisions far earlier.
Prudential UK executive director, Roger Ramsden, said: “At the bright young age of 26, many youngsters are not yet fully aware of the benefits that starting a pension and savings scheme can bring.
“For one thing, few are aware of the significant tax breaks of a pension. It is only later that they look back and wish they had acted earlier to maximise their finances.”
He added that 42 per cent of Brits wished they had reviewed their finances earlier in life.