Graduates taking their first steps on the career ladder show a startling gap in the understanding of financial planning, it was claimed yesterday.
It follows a survey by wealth management specialists Jobson James which interviewed around 200 graduates aged between 21 and 23 from the West Midlands on their short and long term finance plans for the future.
More than 90 per cent had "an alarming lack of knowledge on savings and investments, mortgages and especially pensions, which remain a mystery to many despite employers providing decent provision in today's marketplace".
Miles Goodworth, sales and marketing director at Jobson James, said: "With the well publicised concerns about pensions and savings for the future remaining high on the UK agenda one would think that this age group would be at least part aware of their options.
"The results show that the understandable youth focus on having a good time with their new pay packets reign strong and early investment into long term security falls by the wayside because of confusion as to what the marketplace can offer."
It is putting on a special seminar next Tuesday at Opus Restaurant in Birmingham city centre to offer an insight into the sort of choices on offer.
It promises to "dispel the mystery and sometimes baffling terminology on all these matters and provide invaluable information to give clear and easy guidelines on how best to invest for a secure future".
Already, more than 40 graduates have signed up for the evening event.
Mr Goodworth added: "Planning ahead to create financial security may not be top of your agenda right now, but it should be."