Not planning for the long-term future from an early enough age is the biggest threat to the population’s financial security, according to a poll of financial advisers.
The survey from Aegon found more than half (52%) of the 100 advisers polled cited a lack of planning as a threat to financial security.
A further 20% thought the ageing society and increased life expectancy were the greatest threat.
Meanwhile, just 6% of financial advisers cited Brexit as the number one risk, while only 1% saw the current political climate as the biggest risk.
Official figures released earlier this year found that households are saving the lowest proportion of their income in over 60 years.
Steven Cameron, pensions director at Aegon, said people today are expected to take far greater responsibility for their own financial future.
In addition, younger generations face greater financial challenges than previous generations, whether from student debt or getting on the housing ladder, he added.