Yuppies of the 80s “come back down to earth with a bit of a bump”
November 18, 2007 by admin
Filed under News, News-Banking
Young Urban Professionals (yuppies) who enjoyed a lavish lifestyle in the 1980s are now forced to face up to the financial concerns of modern times, said Liverpool Victoria financial company.
Lucy Pope, a spokesperson for the company explained that, today, so-called yuppies face financial hurdles that were not necessarily existent 20 years ago.
She said that on strain on purse strings today is the fact that companies do not offer pension schemes in the same way they did two decades ago, making it even more important today that consumers make alternative saving arrangements.
“They might have felt that they were protected by their employers”
“There aren’t so many pension schemes and final salaries available [now], so you may not get the comfort of your employer as you may have done in the 1980s.”
She added that many people of the 80s yuppie era are now “playing catch up” having delayed saving for the future.
Recent research carried out by YouGov on behalf of Liverpool Victoria, found that 45 per cent of yesterday’s yuppies are now finding it a struggle to live within their means.
