For the average person, achieving major life milestones such as buying a house, having children and saving for retirement costs a total of £566,659, research shows.
According to calculations by Royal London, it would take 25 years for someone on the median graduate net salary of £22,421 to pay this in full, if they were only spending money on their life goals.
The most expensive life goal is getting on the property ladder, with a 10% deposit and a 3% fixed-interest rate mortgage costing first-time buyers an average of £250,148.
Raising two children is estimated to add around £150,000 to the total, and a comfortable pension pot of £300,000 would require a personal contribution of £113,400.
Other key life milestones included going to university, for which average student loan repayments amount to £23,000, and getting married, at the average cost of £30,111.
Becky O'Connor, personal finance specialist at Royal London, said:
"Everyone has different goals and dreams, but looking at a set of conventional goals and comparing it to typical earnings, we can see just how difficult it is to make your long-term dreams a reality.
"The key is to know what you would like to achieve and then plan for it, realistically acknowledging that you need something to live off in the meantime."
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