a new report uncovers interesting attitudes among high net worth South Africans.
The latest Wealth Insights report says high net worth South Africans have a very positive outlook on retirement, considering it to be the best years of their lives. The report looks at the perceptions and attitudes of 2 000 high net worth individuals in 20 different countries, and finds wealthy South Africans were the world’s most confident about their financial security, with 65% of respondents certain that they are financially secure. This was ahead of other confidently wealthy in Spain (63%) and India (55%). The survey showed that half of wealthy South Africans expect retirement to be the “best years of their lives.” [read more »]
The South African Savings Institute is urging consumers to spend wisely during this festive season. The recent financial crisis has left many countries, including South Africa, with declining savings and increasing unemployment levels. With the average SA household currently spending 78% of their disposable income just on repaying debt, the best advice is to avoid buying on credit this festive season. [read more »]
With life expectancies being greater than ever, retirement could likely be the longest phase of your life. It is imperative that there be a plan in place that is well equipped not only to spend and enjoy your retirement years, but also to help avoid running out of money. Retirement planning is an extremely sophisticated process and retirees should not attempt this on their own. In addition to the risk of outliving your assets, other risks include taxes, inflation, the rising cost of healthcare, stock market and interest rate volatility. [read more »]
Entrepreneurship is key to economic growth and job creation
“I could choose to be either an entrepreneur, or work in a corporate environment, but knowing that I have the opportunity to leave a legacy of companies that people love to work for is probably the most exciting thing about being an entrepreneur.” (Tyler Reed, technology entrepreneur)
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