The 2026 annual 1Life Insurance Generational Wealth Survey shows an overwhelming recognition of the importance of wealth creation among South Africans. An impressive 99% of survey respondents say wealth building is important –Of these, 44% view it as essential for improving their family’s quality of life, enabling them to leave a legacy (28%) and is key to escaping poverty (27%).
Encouragingly, 66% of South Africans believe wealth can be built even on a modest income, a notable improvement from last year, when 35% felt they were not capable of generating wealth. Meanwhile, 23% say they plan to start building wealth once they earn more.
“Although South Africans view wealth building in different ways, it is encouraging to see that the vast majority recognise the importance of generational wealth,” says Hayley Parry, Money Coach and Facilitator at 1Life’s Truth About Money.
Financial well‑being remains a challenge
Despite South Africa recording its lowest inflation rate in a decade last year, most households have experienced limited financial relief. Only 12% of respondents say their financial situation has improved, while 35% report slight improvements. More than half (54%) indicate no positive change at all. Overall, this year’s survey reveals stagnation in financial well‑being:
- 29% say they are struggling financially; the number remains unchanged from last year.
- 59% of respondents say they are “just surviving,” up from 56% last year.
- Only 14% describe themselves as comfortable, and a mere 2% say they are thriving.
South African’s evolving definition of generational wealth
The survey also reveals significant shifts in how South Africans define wealth:
- 27% associate wealth with owning assets that can be passed down through generations.
- 21% view Life insurance as a wealth‑building tool.
- 17% see property ownership as a sign of wealth, which is a huge drop from the 78% in 2025.
- 17% believe saving constitutes wealth building, compared to 74% who linked wealth with cash savings in 2025.
- 12% regard owning a business as a form of wealth building.
- Only 6% associate wealth with cars or luxury possessions, down from 17% last year.
“It is truly inspiring to see more South Africans recognising the importance of life insurance as an essential and powerful wealth‑building tool. Notably, 27% value owning assets that can be passed from one generation to the next, reflecting a strong intention to build wealth and create a lasting legacy for their families.” Notes, Parry.
The growing importance of financial resilience
In challenging economic times, financial education and emergency funds pocket remain crucial. This year, 42% of respondents report having a savings or emergency fund in place – a slight decrease from 43% last year showing continued commitment to building financial resilience and in fact, a strong trend towards better financial literacy with 52% actively trying to manage their finances better each month, acknowledging that some months are better than others and 31% have a solid monthly budget in place.
“The first step toward financial freedom is recognising when you need help, because there is a wealth of financial literacy available to support your wealth building journey. It is encouraging to see South Africans taking deliberate steps to manage their finances despite ongoing economic uncertainty,” addsParry.
A nation focused on legacy and resilience
The 2026 survey results paint an encouraging picture of South Africans’ financial aspirations. More than a third of respondents (35%) say their ultimate financial goal is to become debt‑free. Another 20% aim to save for a property, 19% want to start an investment or savings portfolio to improve their quality of life, and 12% are focused on saving for education.
Despite these varied circumstances, the results clearly show a nation that remains deeply committed to building a better future.
“This year’s results indicate that South Africans are really trying to prioritise long‑term financial security and generational wealth even in the face of global and local economic challenges. This resilience, determination, and unwavering hope highlight a country filled with potential and is ready to thrive,” concludes Parry.
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