Millennials include those who were born in the 80s and 90s and lived through these events during their childhood or adolescence.
A survey by the Bundesbank now shows how the generation is financially positioned.
Among other things, income, real estate values and account balances were queried.
9/11, the 2008 financial crisis and the emergence of the internet were events that had a profound impact on the millennial generation. Millennials include those who were born in the 80s and 90s and lived through these events during their childhood or adolescence.
Millennials are now young adults – building houses, earning their own money in their first jobs and making a significant contribution to shaping society and the economy in Germany. But how are millennials financially positioned? A survey by the Bundesbank now provides insights.
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Between April 2021 and January 2022, a total of 4119 citizens were in Deutschland questioned. The survey shows the median wealth of 25 to 34-year-olds and how much they themselves earn on a median basis. The median and not the average value is considered because this can be distorted by large outliers. The median is the value that is exactly in the middle of all values.
annual income
According to the poll, that’s it gross annual income median of millennials at 41,800 euros. The net annual salary is then 29,500 euros. This corresponds to a monthly income of around 2460 euros.
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 of millennials in Germany at 25,500 euros. The account balance as well as real estate values and valuable objects such as cars are included in the gross assets.
In order to calculate the net worth, the debts and loans have to be subtracted. The net worth is then 18,400 euros.
Savings and checking accounts and stock assets
The median current account of an average millennial is “only” 2200 euros. On the other hand, 4600 euros on savings accounts such as fixed-term and call money accounts.
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In addition, stocks with a median value of EUR 4,900 and funds of EUR 7,200 are held.
property
The value of self-use home ownership of millennials is a median of 309,800 euros. However, the median millennial also has a mortgage loan of 210,300 euros.
Vehicles and valuable real estate
Next to the Money Millennials still have valuable items with a median value of 7,700 euros in their accounts and real estate. This includes, for example, cars.