Millennials need to save more — and more than their parents did
Millennials are in danger of making worse mistakes than their parents did when it comes to investments and planning for retirement. A recent survey by 10X Investments revealed the gloomy reality about saving habits of young South Africans. The survey‚ of 2‚200 respondents‚ aimed to gain insight into the financial behaviour of young South Africans‚ specifically targeting the country’s economically active population. Millennials in the research have been categorised as individuals between the ages of 25 and 35. The research shows they are not saving enough and are worse at saving compared to their parents, with only 35% of them investing for the long term.