Retirement / Savings & Investments

The best reason never to play the lottery

Are you or your clients among the millions of South Africans who gamble away their spare change on the National Lottery? If yes, then it could be time for a serious re-think. You see, the odds of actually winning the lottery are incredibly insignificant; and most gamblers will see only a fraction of their ticket price returned to them in winnings (sic). You may be tempted to dismiss this article until your realise that many mid-income households are tossing away ZAR150,00 or more each week… Incredulous? Let’s take a quick look.

The reality of savings for South Africans

According to Deloitte’s South African Investment Management Outlook 2023, which compares South Africa’s savings rate with other countries, the country’s saving habits are far below average. This makes it more critical to drive awareness about savings amongst South Africans.

The resilient mindset, let us not fail to save

As we consider the importance of saving, whether for the short, medium or long term, and take into account the current economic impacts that have reduced our disposable income through the cycle of interest rate hikes, I have to ask myself are we failing to save due to the economic situation or are we really just not good savers, and if so, why.

11 ways to save like a billionaire