| Liberty Monthly Communication |  |
April 2011 |
 |
||
 |
||||
 |
Saving is becoming a global imperative. South Africa's low savings rate is restricting our ability to
invest in our economy and increasing our reliance on international capital. Europe is facing the
prospect of not having enough working people to support its aging population. This will put tremendous
strain on taxpayers unless Europe can dramatically increase the savings levels of those working to
ensure they can provide for themselves in retirement.
The South African Reserve Bank's Quarterly Bulletin suggests that things are improving marginally for consumers but the challenges of higher inflation rates and potentially higher interest rates still lie ahead. Find out more in our local and global economic reviews. |
|||
 |
||
|
We all know we should save more, the reason we don't is that the impact is only felt when we retire - a long way away for many people. Yet by the time we reach that point, it is too late. In the article "What is stopping you from saving?" Andrew Warren looks at the behaviour in our 20s, 30s, and 40s that prevents us from saving and how we can take control of our futures. We have also included a Savings Quiz to help you determine your money personality. Are you someone who squirrels away your money, or do you spend like there is no tomorrow? Maybe you just don't know how easy it is to save? Try out the quiz - it's fun and you may pick up a tip or two to improve your savings score. Allan Greenblo, editorial director of Today's Trustee, wrote a hard-hitting article in the Cape Argus entitled Lack of savings culture remains a national malaise. He writes about the lack of savings culture in South Africa and makes the point that despite consumer education and a plethora of surveys which show that 94% of South Africans will not be able to support themselves in retirement, our savings rate has dwindled. He urges government to lead by example in cutting back on wasteful expenditure and by investing in the economy. He also calls for interventions like compulsory preservation and lower retirement savings costs. His conclusion speaks volumes: we need to be worried "because the worst effects of a no-savings culture are yet to be felt". This month Liberty has launched a savings drive as we recognise the need to improve the savings rate of the country so that we will not have to feel "the worst effects" that Greenblo speaks of. |
||
 |
||
|
Thank you for the feedback we have received on these newsletters so far. Your comments and suggestions will help us to give you relevant information for planning and managing your finances. Please keep talking to us and telling us what you think! You can email your comments to [email protected] If you don't have a financial adviser or if you have any questions about your policy, please call us on 0860 456 789 or email [email protected] Kind regards Steven Braudo Chief Executive Officer: Liberty Retail SA |
||
 |
 |
 |
|
Global economic review
STANLIB economists Kevin Lings and Laura Jones write about the imperative of savings both to support an ageing population and as an important ingredient of growth. Read more. Weekly economic updates
The Weekly Focus is a commentary on markets, economies and investments prepared by Paul Hansen and Kevin Lings of STANLIB. You can read the latest developments every Tuesday by following the link on www.liberty.co.za |
Local economic review
Liberty Life consumer economist, Tendani Mantshimuli, comments on the latest Quarterly Bulletin and what it tells us about the state of the South African consumer. Read more. Investment portfolio information
Investment portfolios offered by Liberty: performance, risk profiles, asset allocation. Click here. Online Policyholder Servicing
Download tax certificates, view policy values and other information, update your details. Click here. |
A Focus on Savings
|
|
"Liberty Group is an Authorised Financial services Provider in terms of the FAIS Act (Licence no. 2409). The information contained in this communication, including attachments, is not to be construed as advice in terms of the Financial Advisory and Intermediary Services Act of 2002 ("FAIS") as the writer is neither an appointed representative of Liberty, nor a licensed financial services provider as contemplated in FAIS. Please consult your financial adviser should you require advice of a financial nature and/or intermediary services." |