Johannesburg - Many people think it is complicated and expensive to start saving, or to invest on channels such as the stock market, but this doesn’t have to be the case, says Mpho Ledwaba, head of marketing at the Johannesburg Stock Exchange (JSE).
"When compared to other emerging markets, South Africa has a weak savings culture in general and our savings rate is quite low. Young people of every generation tend to find it difficult to prioritise saving, especially for retirement. It can be strange for the youth to start thinking of saving for retirement when they are in their early twenties and still getting to grips with the reality of their first job," says Ledwaba.
For example, many young people need to pay off student loans before they can begin saving and this has become harder to do as the cost of tertiary education increases.