Editor’s Thoughts.

I’m going to stick with yesterday’s nod to April as Financial Literacy Month because it really couldn’t come at a more important time.

On the one hand, we’re living longer – which is wonderful in theory, but terrifying if you’re not sure your money will last as long as you do. As Annalise De Meillon‑Muller (PSG Wealth) points out, longevity risk is now one of the biggest financial risks we face: outliving our savings, not our fears. That means starting earlier, saving more intentionally and being very deliberate about how much you draw in retirement.

On the other hand, the pressure of high living costs and easy access to online betting is feeding a different trend: more people turning to gambling (and “side hustles” that look suspiciously like gambling) as a shortcut. The facts around the growth of gambling in South Africa are undeniable. In the 2024/25 financial year, South Africans wagered about R1.5 trillion on gambling – that’s about 20% of GDP – and works out to R4billion gambled every day! (I never use the ! so when I do, you must know.) In today’s episode of Industry Insights, EBnet.Stream chats to Salem Nyati (Momentum) about this pandemic – why people are gambling money they don’t have (even their student bursaries) and what better options might be.

Layered over this is the workplace. Aon’s team argues that if employers want people to make better decisions – about health, money and long term security – benefits and financial education must be personalised, inclusive and data‑driven, not just a once‑a‑year HR campaign or retirement fund newsletter (& should also be discussed in your annual review with your financial advisor)

Put simply: longer lives, higher risks and more temptation require better habits. This month is a good moment to check in with yourself (your clients and your fund members): Am I protecting my future income, or quietly gambling with it – through my clicks, my claims, my “small bets” and my silence about money?

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