Simplifying retirement planning

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The Old Mutual Savings and Investment Monitor 2021 report tells us that a third of respondents have no form of retirement saving and as many as 56% of South African consumers are experiencing overwhelming financial stress. In addition, 43% of survey respondents now fall in the sandwich generation, where they are financially supporting their immediate family as well as adult dependants, and extended family members.

We caught up with Lizl Budhram, Head of Advice at Old Mutual Personal Finance, to get some insight into these troubling statistics and for some practical steps that advisers can give to their clients to get them closer to retirement success.