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While giving your kids financial support to settle into adulthood makes sense in today’s economy, it can also stand in the way of their independence, says Lana Johnson, Franchise Principal and Financial Adviser at Consult by Momentum.
Therèse Havenga, Head of Business Transformation at Savings, contemplates tricks that have stood the test of time.
South Africa’s young people are entering adulthood at a time when financial pressure is no longer an exception but a daily reality. High unemployment, rising living costs, and limited access to stable income have created conditions where debt is often used not for long-term investment, but simply to get through the month.
The term ‘Sandwich Generation’ is widely used, it often understates the profound responsibility modern professionals carry by supporting both aging parents and adult children.
As an adviser reading this article, which discipline do you find most important for retirement planning?