People born since 1981 are being advised about an important HMRC deadline. The average ISA for Baby Boomers is £56,260, but for Millennials, it is £12,010.

The tax year ends on April 5, and ISA allowances will reset on April 6. The 'Silent Generation' has the most ISA savings, with an average of £67,950.

Generation Z has average ISA investments of £8,690, which is not much lower than Millennials.

Many argue that Millennials have not saved enough due to low wage growth and high housing costs. This raises questions about their savings.

Older people have more money in the bank.

A financial expert says the data shows a clear difference between generations when it comes to ISA savings. Younger investors are falling behind.

Even small, regular contributions can build up over time due to tax advantages. Millennials and Gen Z should start saving and investing early.

Savers have a £20,000 annual allowance for ISAs, which resets on April 6. Any unused allowance is lost.

From 2027, only £12,000 can be put into a cash ISA. The rest must go into a stocks and shares ISA.

Those who can take risks can consider investing in a stocks and shares ISA.

Stocks and shares often perform better than cash savings in the long term.

Baby Boomers have saved more money.

A financial expert says balancing short-term uncertainty with long-term opportunity is a challenge.

Holding cash can feel safe, but it can limit the growth of savings over time.

Taking a long-term view and investing through an ISA can be a powerful way to build wealth, especially with regular contributions.