Cape Town - In order to save you need the ability as well as the willingness to do so, Rian le Roux, chief economist at Old Mutual Investment Group, told Fin24.
While there are many South Africans who simply do not have the means to save, there are many who has the ability to save, but lacking the willingness, he said.
"We are a consumer society and people want instant gratification, while saving is a longer term issue with a benefit only after 30 to 40 years," explained Le Roux.