WHILE many people think building wealth is only for the rich, financial experts say that's far from the truth.
"Generational wealth is built with intention and purpose - not fear or uncertainty," said Nontokozo Madonsela, chief marketing officer at Momentum.
"For one to be financially stable, they need to follow some sort of programme. Everyone has the ingredients, which is a job. You just need guidance, and that comes in the form of a financial adviser," she said.
According to Momentum, financial planning isn't a luxury. It's about learning how to manage your money, spend wisely, save consistently, and make your money work as hard as you do. It can also reduce stress, boost confidence, and guide your everyday decisions.
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Experts said that even with a modest income, smart financial decisions can pay off big in the long run. Starting a retirement annuity in your 20s, for example, even with small contributions, can build far more wealth than waiting until your 40s. That's the power of compound growth.
A financial adviser can help you make the most of what you have, from restructuring finances for tax efficiency to reducing unnecessary expenses and ensuring proper insurance coverage.
"Even if your income is limited, you have control over how you manage the money you have," said Madonsela.
"A skilled adviser doesn't just work with what you have today. They help you see what's possible tomorrow and create a realistic path to get there."
