People are cutting back on holidays, entertainment, clothes and shoes as well as beauty and hair. They’re also cutting back on armed response.— Lynette Nicholson
People aren’t cutting back on DSTV and M-Net.— Lynette Nicholson
It’s not only black youth that take care of their parents. It’s becoming universal in South Africa.— Lynette Nicholson
Nicholson discussed the science of our savings behaviour.
Scroll down for quotes from the audio below.
We estimate R50 billion are in stokvels.— Lynette Nicholson
We see a large decline in people helping family.— Lynette Nicholson
Contractual savings have a better result.— Lynette Nicholson
About 40% of working urbanites don’t have a pension fund or retirement annuity.— Lynette Nicholson
South Africans under 30 – about 75% of them – expect they’ll have to take care of someone in future.— Lynette Nicholson
South Africans want instant gratification.— Lynette Nicholson
How early you start saving is key.— Lynette Nicholson
Generations Z is saving for the latest electronic device. The mind-set is ‘I want the best now’.— Lynette Nicholson
6% of South Africans can retire comfortably.— Lynette Nicholson
You don’t have control over the markets. But you do have control over how much you save and for how long you save.— Lynette Nicholson
Fewer households are saving.— Lynette Nicholson
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