THE BAD

Finweek English Edition - - THE WEEK -

Nearly 73% of pro­fes­sional, mid­dle-class South Africans ex­pe­ri­ence fi­nan­cial stress, ac­cord­ing to the 2017 San­lam Bench­mark Sur­vey, an an­nual re­tire­ment fund­ing study. The five most sig­nif­i­cant sources of stress were short-term debt obli­ga­tions (car pay­ments, credit cards and per­sonal loans), not be­ing able to save for the fu­ture, not hav­ing enough for unan­tic­i­pated emer­gen­cies, ex­tended fam­ily fi­nan­cial obli­ga­tions or ad hoc re­quests for fi­nan­cial sup­port, and pay­ing for school or univer­sity fees, Mon­ey­web re­ported. Roughly 17% of the 1 300 re­spon­dents in­di­cated they’ve made no pro­vi­sion for re­tire­ment, while over 60% said they would work beyond re­tire­ment age.

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