Old Mutual Launches Financial Wellness Monitor 2024 in Ghana

A recent launch of the Old Mutual Financial Services Monitor (OMFSM) highlights the financial struggles of working Ghanaians amidst economic recession and political changes. The 2024 survey indicates that financial satisfaction has declined compared to 2023, with many Ghanaians increasingly relying on their communities for support, reflecting a shift in financial attitudes. Meanwhile, a discussion among millennials on Reddit reveals a grim outlook on retirement, with many expressing concerns over inflation and the burden of debt, leading them to believe they will work indefinitely. Despite these challenges, there are signs of emerging financial optimism and discipline among this generation. Experts emphasize the importance of early retirement planning and the need for a structured approach to ensure financial security in later years. Key strategies include setting retirement goals, understanding current financial positions, and considering investment options to grow retirement savings.