South Africans have notoriously poor savings habits resulting in less than 6% of the population able to comfortably retire.
Typically the advice is that you should be saving between 10% and 15% of your monthly income but this isn’t always possible, particularly with a rising cost of living and life getting in the way.
We’re often told to look at our little expenses to help us improve our chances of a comfortable retirement but personal finance writer Maurie Backman explains to Motley Fool Answers hosts Alison Southwick and Robert Brokamp in this segment of the podcast, we’re putting way too much blame on our caffeine addictions.
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