Youngsters need to be educated about the importance of preparing for their retirement.
While many teenagers find it hard to think that far in advance, it should be drilled into them that cash needs to be set aside for their post-working life.
From this year, everyone will be able to use the government-backed National Employment Savings Trust as an efficient means of preparing for retirement.
Under the scheme, people do not have to worry about moving their pensions across if they change jobs.
Phil Stevenson, Chartered Financial Planner at Ark Financial Planning, noted too often in the UK young people are taught about how to take on debt instead of save.
"They come out of education with a huge amount of debt and [they] probably have a credit card," he added.
Mr Stevenson observed financial lessons are not up to standard at the moment and so this area needs to be overhauled so youngsters better understand their situation.