South Africans try to save, but debt raids tomorrow’s money
South Africans understand the need for retirement savings but are forced to prioritize immediate financial pressures like debt and gambling.Summary
The 45th Sanlam Benchmark Survey reveals a disconnect between South Africans' awareness of retirement planning and their actual financial behavior. While most recognize that retirement preparation should begin by age 35, many only seek advice or engage with funds a few years before retiring, often after critical decisions have already been made.
Financial pressures such as debt, healthcare costs, and the need to support extended families are driving short-term decision-making. Notably, the survey highlights that gambling is increasingly used as a
The report concludes that the retirement crisis in South Africa is not
(Source：Daily Maverick)