Several studies have shown that when compared to the older generation, millennials (currently aged between 18 and 34) are good savers. But when it comes to long-term investing towards retirement, they are not doing so great, with only 44% saving for retirement via an employer pension or provident fund. So, how do millennials develop a lifestyle of saving that will benefit them in the long-term?
Noluyolo Betela, client relationship manager at Allan Gray, recently unpacked why millennials are finding it challenging to save and shared ideas on how they can develop a lifestyle of saving that will make a big difference.
“Getting into the habit of investing will require you to adjust your attitude towards saving and spending – but it’s a step that will pay dividends (excuse the pun) in the long run”, she advises.
Click here to download the Allan Gray media release and read more about millennials’ excuses to save and the advice that Betela shares.
