Cape Town – For a number of years, South Africans’ poor savings habits have been disguised by sterling investment returns on the equities market. But those days have been replaced by much lower yields and when returns are lower, people need to beef up their savings.
“This is not the time to go out and buy that Golf GTI, a coveted new perfume or luxury watch, but rather to make sure you have a proper savings plan in place,” say Francis Marais and Jan Vlok, investment analysts at Glacier by Sanlam, “so that you can be financially independent whether you’re young, close to or near retirement.”
Tax-free savings account