The 45 to 64 year olds have had a major economic impact in Germany. But how are you financially positioned?
A survey by the Bundesbank provides the answers.
That’s how high the assets, income and account balance of the so-called baby boomers really are.
The economic waves that people belonging to the so-called “baby boomer” generation have unleashed were immense. Born in the aftermath of World War II, this demographic has had a crucial impact on the German economy. Today they are between 45 and 64 years old.
Over the course of their working lives, they have seen both notable economic booms and devastating recessions. But what about your own finances? A Bundesbank survey of 4,119 citizens provides the answers.
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annual income
According to the poll, that’s it gross annual income median of 57,100 euros for 45 to 54 year olds and 53,900 euros for those aged 55 to 64.
What is a median salary?
Because extremely high or low salaries can easily skew the average, analysts often refer to the median. This is the number that is exactly in the middle of all the values. This means that there are exactly the same number of salaries that are lower and higher than the median salary.
Assets
That’s in the median gross assets from 45 to 54 year olds in Germany at 187,000 euros. The account balance as well as real estate values and valuable objects such as cars are included in the gross assets.
As you get older, your wealth increases significantly. The median of 55 to 64 year olds is 239,000 euros.
Savings and checking accounts and stock assets
The median current account of a 45- to 54-year-old is 3,300 euros. On the other hand, 9400 euros on savings accounts such as fixed-term and call money accounts. In addition, shares with a median value of EUR 12,400 and funds with a value of EUR 15,500 are held.
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In the case of 55 to 64-year-olds, on the other hand, there are only 3,100 euros in the current account – 16,200 euros in savings accounts. They have invested a median of EUR 24,300 in funds and EUR 22,600 in shares.
property
The value of self-use home ownership of 45 to 54-year-old citizens who own real estate is a median of 283,900 euros. The properties of 55 to 64 year olds are worth a little more at a median of EUR 284,400.
Vehicles and valuable real estate
Next to the Money 45- to 54-year-olds still have valuable items with a median value of 11,200 euros in accounts and real estate. This includes, for example, cars. The 55 to 64 year olds own valuable items worth 10,000 euros.