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

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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.

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