Millions of Britons are living in the here and now rather then preparing for their future, buying holidays and clothes instead of putting money aside in a pension, new research has found.
Data from Prudential showed nearly three million working Brits favour spending on holidays over saving for retirement.
Meanwhile, a quarter of workers wait until they are 31 years old before paying anything into a pension pot.
The research also discovered that an estimated 2.5 million people would, if they had to choose, continue to spend money on nights out with friends and trips to the cinema ahead of maintaining retirement payments.
Vince Smith Hughes, head of business development at Prudential, said: "Given the choice, many of us would opt for the immediate benefits of a holiday or a night out with our friends over saving for retirement.
"However, I'm sure we would all like to be able to continue topping up our tans occasionally or going out for meals after we have retired. So it is really important to strike a balance and keep building up a pension that can support the lifestyle we want to have in later life," he added.