In terms of heritage, public data are not very frequent and therefore not very recent. Regarding those related to the inventory of assets held by seniors, we have to be content with data dating from 2018, the latest available, or even 2015 for more detailed data. Thus, we know, according to INSEE data, that in 2018 the average net amount of wealth of 60-year-olds was eight times higher than that of those under 30. A situation most likely in force today because quite logical:the level of wealth increases with age. Let's see what the heritage of seniors is made up of.
According to the latest data available from Insee dated 2018, the average net amount of wealth, that is to say the gross wealth from which we have deducted any debts such as current loans for example, of 60-69 year olds years is 315,200 euros, compared to 38,500 euros for those under 30, and almost 240,000 euros if we consider the population as a whole. People aged 70 and over have an average wealth equivalent to 305,500 euros.
We can also assess the wealth of seniors through another indicator, the median net wealth. The latter tells us, again with 2018 INSEE data, that if we consider the entire population, regardless of age, half of households have assets of less than 117,000 euros, the other half an estate greater than this sum.
With regard to 60-69 year olds, and taking this median net wealth into account, 50% of them have assets of less than 194,300 euros and 50% wealth above this amount. This figure, which divides the population aged 70 and over in half, is 182,100 euros in 2018.
Whatever the age of seniors, their wealth is mainly made up of savings accounts (82% of the wealth of 50-59 year olds, 80% of 60-69 year olds and 81% of 70 year olds and over).
Among seniors, the asset item that comes in second place is real estate assets. A logical situation at this stage of life when a large proportion of seniors have been able to save and invest in real estate and, in particular, make it their main residence. Thus, 74% of people over 70 have assets made up of real estate, 72% of which constitute their main residence. Between the ages of 50 and 69, two-thirds of seniors own property, most often also their main home.
In terms of real estate assets, 60-69 year olds own property worth 202,300 euros on average in 2018, those aged 70 and over 188,700 euros.
Life insurance and retirement savings, also components of wealth, are popular with seniors:on average, 48% of people aged 50-70 and over hold this type of wealth.
Employee savings are also part of the wealth held by the oldest households. While this form of savings is highest among seniors aged 50 to 59 (19%), it decreases significantly with age, when the time for retirement has come.
Finally, on average, around 17% of people aged 50-70 and over own securities (stocks, bonds, mutual funds, etc.).
If we consider all of the financial assets of seniors (excluding real estate assets), on average, 60-69 year olds have 73,400 euros in savings or securities (2018 data from INSEE), and 70 years and over, from 82,600 euros.
