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Monday, January 17, 2011

Time for Gen Y to build nest egg

 | News.com.au

THEY'RE often unfairly stereotyped, the subject of countless studies, and in many ways they're better placed than most Australians to achieve a bright financial future.

Generation Y those born between 1982 and 2000 can be well into their 20s. Some are looking to consolidate a career, settle down, buy or pay off a home, perhaps start a family. Others are still in party mode that may last into their 30s.

Some have already collected a nasty pile of consumer debt, and investing and superannuation are the last thing on their minds. After all, retirement is more than 30 or 40 years away.

However, such a long time frame gives Generation Y a great opportunity to bring their finances under control, use the superannuation system to their advantage and start a savings and investment plan that can eventually make them richer than their parents.


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