Sanlam chief executive of strategy and impact Zweli Moyo says one of the main reasons people postpone retirement planning and often do not make good financial decisions is due to what is known as present bias.
BUSINESS
From a total of 5 205 participants in different phases of their lives who took part in a survey commissioned by Sanlam, it emerged that a significant number of people have credit card debt and personal loans, and only start planning for retirement much later in life – if at all.
Sanlam chief executive of strategy and impact Zweli Moyo says one of the main reasons people postpone retirement planning and often do not make good financial decisions is due to what is known as present bias.
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