The Discovery Financial Planning Summit is a powerful platform that brings together the leading experts, speakers, and thought leaders in the financial planning industry.
The first speaker of the day was Discovery Group Chief Executive, Adrian Gore, who made a thought-provoking presentation, covering topics ranging from challenges the world is facing, to the volatility of South Africa's GDP.
Gore discussed the ever-increasing need for solid financial planning, as well as the human traits that add to this need. He also discussed the positive growth of the South African economy in the past 20 years, adding that, despite negative feelings, the country as a whole has improved.
One of Gore's key messages was that human beings have survived over the years by seeking negative signals and instant gratification. While these behaviours are good for survival, they are not very good for financial planning.
He concluded his presentation by discussing how our average longevity has increased significantly over the years, and how a longer life expectancy can negatively affect our financial planning. "Living longer is a complicated issue in terms of retirement funding. People left to their own devices could tragically end up destitute, living longer than they think, unable to afford desperately needed healthcare. Financial planning in SA is a well-regulated industry, offering a much-needed service, and we should all make use of it," Gore said.