11 Aug What Is Worth Saving For? Momentum Asked the Real Experts
A recent poll revealed that only 7% of South Africa’s senior citizens feel that they had saved enough in their lifetime and are satisfied with their current financial situation.
The poll was part of Momentum’s campaign, ‘Life Is #WorthSavingFor’, conducted to highlight National Savings Month in June. In the study more than 500 senior citizens (over the age of 55) were asked to rate the most important things to save for in life. 46% of the respondents ranked retiring comfortably as the most important thing, followed by the 18% who selected buying a home and 11% of participants opting for health care. Compare these stats to the mere 1% who thought it was most important to save for luxuries like the latest in technology or designer items.
Fränzo Friedrich, Head of Momentum’s Upper Segment Marketing and Communications said: “The poll reflects that people are becoming more aware of their state of financial wellness and how this impacts experiencing a full and rewarding life and being able to retire comfortably. It’s great advice for the younger generations: Make sure you provide for your old age, save money for those truly memorable life experiences, and don’t just buy things”.
In the video above Eddie, Lilian, Magi and Patrick share what they feel has been worth saving for throughout their lives.
For more information visit www.momentum.co.za