Cape Town - South African households’ real net wealth declined in 2016 by 1.7% or R119.2bn, according to the latest Momentum/Unisa Wealth Report.
Real net wealth per household also diminished by R18 382 or 4.3% at the end of last year. This puts the figure at a similar level as at the end of 2012.
The drop in household wealth means that fewer households will be able to retire with sufficient income to meet their current living standards. Once they retire, they will have to make adjustments, such as moving from a house they owned to a rented property, or even deprive themselves of meals.