British teenagers expect to earn $90,000 by the time they hit 30
British teenagers expect to earn as much as £70,000 a year ($89,750) by the time they hit 30, a figure that's a lot higher than the current national average, according to a survey published by financial services provider OneFamily this week.
For teenagers expecting to earn "a lot" of money by their thirties — which averaged out at £70,000 among those surveyed — they could be in for a surprise, as the average annual salary of a 30-year old Brit comes in at £23,700 — almost three times less than what's expected. This according to the Office for National Statistics.
In the same survey, which interviewed 2,098 people online aged between 13 and 19, OneFamily asked young Brits about what they hoped to achieve by the time they reach their thirties — and some of the answers would require a lot of hard-earned cash.
When it comes to their career, 45 percent of those surveyed expected to secure their dream job, while around one in five stated that they believe they'd be able to financially support themselves after having set up a business – both of which was before reaching 30.
On top of that, close to half of participants who want to buy a house, see themselves on the property ladder before their twenties end.
This comes at a time when more and more young people find themselves unable to afford to buy property in London, on top of the economic uncertainty surrounding the U.K.'s impending departure from the European Union.
In reaction to the results of the survey, OneFamily's managing director of children's savings, Steve Ferrari said that this optimism highlights how significant it is to talk to young individuals about finances and savings.
"Parents can do this by encouraging their children to get a part-time job, or suggesting they save up their pocket money to afford bigger expenses. Today's teens have many life goals, so we need to encourage a savings culture, helping them understand the benefits of saving into a product."
While the research suggests that many of those surveyed have very high goals when it comes to what they can earn in the future, it also shows that more than half of the survey's participants (62 percent) want to work for something that they're passionate about, surpassing the desire to make a lot of money, which came in at 48 percent.
In addition, the most popular professions that arose in the survey leaned more towards traditional roles, with engineer, teacher, psychologist, lawyer and scientist ranking high among those interviewed.
Around one in 10 wanted to pursue modern professional routes, with roles like coder and gaming developer suggested.
While Ferrari stated that it's impressive to see teenagers have certain career and life aspirations, it is also key to help young people understand what various careers pay, with parents being able to help "educate them on this and ensure they make the right career choices, so they can follow their life dreams."
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