Nearly half of UK millennials have little chance of fulfilling the lifestyle aspirations of their parents and achieving the traditional life goals they want because 7.8m have no long-term savings product.

New research has found that 44% of millennials feel they need financial guidance as they are ‘confused’ about the savings landscape.

Most people severely underestimate how much they need to save for retirement, according to a new study by platform and fund manager Seven Investment Management (7IM).

Millennials are saving more and deciding more often to use and stick with automatic enrolment pensons in the workplace, new research has found.