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HEADLINE: Saving for old age – easier said than done

Saving for old age – easier said than done

Financial planning has become a buzzword floating among the neon lights and fashion trends of the 21st century, but if the youth does not take their finances into their own hands, they may give up their future for a fast-paced present.

Iréne-Mari van der Walt

2 Jaar Gelede - 2022-06-07 00:00:00

Entering the workforce is a lifechanging experience and for the overwhelming majority of young people, their first salary is the most significant financial encounter they will have

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Katima Mulilo: 11° | 31° Rundu: 12° | 31° Eenhana: 13° | 32° Oshakati: 13° | 30° Ruacana: 13° | 31° Tsumeb: 16° | 28° Otjiwarongo: 11° | 28° Omaruru: 10° | 28° Windhoek: 8° | 24° Gobabis: 6° | 24° Henties Bay: 12° | 18° Wind speed: 21km/h, Wind direction: S, Low tide: 08:23, High tide: 02:11, Low Tide: 20:38, High tide: 14:47 Swakopmund: 13° | 16° Wind speed: 28km/h, Wind direction: S, Low tide: 08:21, High tide: 02:09, Low Tide: 20:36, High tide: 14:45 Walvis Bay: 12° | 22° Wind speed: 34km/h, Wind direction: S, Low tide: 08:21, High tide: 02:08, Low Tide: 20:36, High tide: 14:44 Rehoboth: 5° | 23° Mariental: 7° | 22° Keetmanshoop: 6° | 21° Aranos: 6° | 22° Lüderitz: 12° | 22° Ariamsvlei: 6° | 19° Oranjemund: 11° | 19° Luanda: 20° | 22° Gaborone: 11° | 24° Lubumbashi: 12° | 29° Mbabane: 9° | 26° Maseru: 3° | 12° Antananarivo: 10° | 23° Lilongwe: 15° | 28° Maputo: 17° | 31° Windhoek: 8° | 24° Cape Town: 10° | 16° Durban: 14° | 22° Johannesburg: 10° | 17° Dar es Salaam: 23° | 30° Lusaka: 15° | 27° Harare: 12° | 26° Currency: GBP to NAD 23.41 | EUR to NAD 19.85 | CNY to NAD 2.53 | USD to NAD 18.41 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.3 | EGP to NAD 0.37 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.75 | ZWL to NAD 0.04 | BRL to NAD 3.3 | RUB to NAD 0.21 | INR to NAD 0.22 | USD to DZD 133.83 | USD to AOA 862 | USD to BWP 13.71 | USD to EGP 48.09 | USD to KES 127.98 | USD to NGN 1510.85 | USD to ZAR 18.41 | USD to ZMW 24.2 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1804.86 Up +1.82% | Casablanca Stock Exchange (CSE) MASI 13245.01 Down -0.44% | Egyptian Exchange (EGX) 30 Index 28161.17 Up +0.63% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 356.61/OZ UP +1.13% | Copper US$ 4.53/lb UP +2.22% | Zinc US$ 2 999.80/T DOWN -0.11% | Brent Crude Oil US$ 87.71/BBP UP +0.54% | Platinum US$ 996.29/OZ DOWN -0.0004 Sport results: Weather: Katima Mulilo: 11° | 31° Rundu: 12° | 31° Eenhana: 13° | 32° Oshakati: 13° | 30° Ruacana: 13° | 31° Tsumeb: 16° | 28° Otjiwarongo: 11° | 28° Omaruru: 10° | 28° Windhoek: 8° | 24° Gobabis: 6° | 24° Henties Bay: 12° | 18° Wind speed: 21km/h, Wind direction: S, Low tide: 08:23, High tide: 02:11, Low Tide: 20:38, High tide: 14:47 Swakopmund: 13° | 16° Wind speed: 28km/h, Wind direction: S, Low tide: 08:21, High tide: 02:09, Low Tide: 20:36, High tide: 14:45 Walvis Bay: 12° | 22° Wind speed: 34km/h, Wind direction: S, Low tide: 08:21, High tide: 02:08, Low Tide: 20:36, High tide: 14:44 Rehoboth: 5° | 23° Mariental: 7° | 22° Keetmanshoop: 6° | 21° Aranos: 6° | 22° Lüderitz: 12° | 22° Ariamsvlei: 6° | 19° Oranjemund: 11° | 19° Luanda: 20° | 22° Gaborone: 11° | 24° Lubumbashi: 12° | 29° Mbabane: 9° | 26° Maseru: 3° | 12° Antananarivo: 10° | 23° Lilongwe: 15° | 28° Maputo: 17° | 31° Windhoek: 8° | 24° Cape Town: 10° | 16° Durban: 14° | 22° Johannesburg: 10° | 17° Dar es Salaam: 23° | 30° Lusaka: 15° | 27° Harare: 12° | 26° Economic Indicators: Currency: GBP to NAD 23.41 | EUR to NAD 19.85 | CNY to NAD 2.53 | USD to NAD 18.41 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.3 | EGP to NAD 0.37 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.75 | ZWL to NAD 0.04 | BRL to NAD 3.3 | RUB to NAD 0.21 | INR to NAD 0.22 | USD to DZD 133.83 | USD to AOA 862 | USD to BWP 13.71 | USD to EGP 48.09 | USD to KES 127.98 | USD to NGN 1510.85 | USD to ZAR 18.41 | USD to ZMW 24.2 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1804.86 Up +1.82% | Casablanca Stock Exchange (CSE) MASI 13245.01 Down -0.44% | Egyptian Exchange (EGX) 30 Index 28161.17 Up +0.63% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 356.61/OZ UP +1.13% | Copper US$ 4.53/lb UP +2.22% | Zinc US$ 2 999.80/T DOWN -0.11% | Brent Crude Oil US$ 87.71/BBP UP +0.54% | Platinum US$ 996.29/OZ DOWN -0.0004