for subscribers

SA's slow growth will make it harder to save, warns economist

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Johannesburg – South Africans do not realise how large their future financial liabilities will be, and the only thing they can do to mitigate such associated risks is to control how much they save, said Old Mutual Investment Group strategist Rian le Roux.

Le Roux was speaking at the launch of the Old Mutual Savings and Investment Monitor 2017, at the JSE on Wednesday. He explained why it is important for South Africans to take their savings seriously.

“They do not realize how large their future financial liabilities are, they wrongfully assume they will ‘be ok’ at retirement,” he said. Le Roux said this assumption is a big mistake. Another observation is that those who can save, save too little.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
15.31
(+0.32)
ZAR/GBP
20.44
(+0.27)
ZAR/EUR
18.18
(+0.19)
ZAR/AUD
11.23
(-0.12)
ZAR/JPY
0.15
(+0.58)
Gold
1803.69
(-1.76)
Silver
23.10
(-1.71)
Platinum
957.74
(+3.23)
Brent Crude
45.51
(+2.15)
Palladium
2338.79
(+0.53)
All Share
57761.92
(+1.08)
Top 40
53049.43
(+1.09)
Financial 15
11674.99
(+2.97)
Industrial 25
80126.12
(+0.26)
Resource 10
52568.48
(+1.54)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
22% - 318 votes
No, I did not.
51% - 752 votes
My landlord refused
27% - 405 votes
Vote