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Everywhere it is said that Switzerland is so rich. But what does it actually look like in detail?
In this paper, we want to look at how high, for example. Average savings throughout Switzerland are. When looking at the average assets in Switzerland, you should distinguish between the Median assets and the Average assets. Since your school days may have been a while ago, you'll know the difference and be able to shine in the next discussion.
Read on to find out if you're already part of the wealthy 50 percent and how you can build your (median) wealth quickly and efficiently with a few simple tips.
If you have any more questions on the topic, we look forward to an exchange in the comments!
Looking at average wealth across Switzerland makes only limited sense. The Median assets Switzerland-wide is much more meaningful, as you will learn below.
Here are the median assets in Switzerland by age (excluding 2nd pillar and pension fund assets). Further below there are still figures including pension fund assets).
Median assets in Switzerland by age incl. tangible assets, real estate, bank accounts, securities and Pillar 3a assets (without PF). Source
How much money should you have saved by 30?
If you want to know how much you should have saved by your age, you can check with your Age group compare. However, keep in mind that everyone's circumstances are different and wealth accumulation goals are always individual.
According to the chart above, for example, you should have saved about 27,000 francs by the time you're 30 to "catch up" in your age group.
Keep in mind, however, that the "Average wealth of Swiss 30 year olds" can also look drastically different in some cases. Average assets to compare across Switzerland or Average savings throughout Switzerland makes only limited sense for the following reasons.
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Average wealth is calculated from two sets of data: Total wealth and population. To determine the average wealth, we put both figures in relation to each other.
With median wealth, also called mean wealth, we include the distribution of wealth in a country, society or group.
In short, the median wealth represents the middle of the wealth distribution. Either you belong to the 50 percent who are above the median wealth or to the other 50 percent.
First of all, we can pat ourselves on the back. According to Credit Suisse data, we are Swiss the leading nation when we measure per capita wealth consider. We are in first place for both median and average assets - it seems we are doing a lot right.
Interesting to see is the significant difference between the average and median assets in Switzerland. Did you know that the average assets at a proud USD 696,604 while the Median assets CHF 168,084 is?
This means that the average wealth is strongly influenced by some extremely high assets. In contrast, the median, where one half of the population owns more and the other half less, gives a more realistic picture of the distribution of wealth in Switzerland.
An absolute counterexample is Germany. Unlike the average wealth in Switzerland, the average wealth of Germany is USD 216,654, while the median per capita wealth is just USD 35,313. If we put the two figures into perspective, the difference in wealth is around 613 percent! A similar picture emerges for Austria and the USA.
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Enough of statistics and we should certainly not rest on our laurels. Because there are still plenty of Swiss people who belong to the bottom 50 percent of the median wealth. If you are one of them, you can use the following tips to build up wealth quickly.
A golden rule for good investors is not to match expenses to income and always live in the same ratio. The goal should be to minimize your expenses. Because the calculation is very simple: If more money stays in the pot, you can build up a fortune faster.
Here we show you how to optimize your cell phone, Netflix and subscription costs.
An absolute no-brainer is the 3 account model. The special thing about it is that you only have to take care of it once and set everything up. Afterwards, everything happens completely automatically and you will have saved a lot of money after a short time.
The implementation is simple and you need three bank accounts - three sub-accounts at your house bank will do. You set up a salary, fun and investment account and optimize your cash flow. No additional income is necessary! Here we have summarized the whole process in 5 stepst and taken up visually.
Taxes are a big item in your expense balance sheet. Through targeted optimizations and small tweaks you can minimize these expenses and thus save taxes. At the same time, you have more money left over to build up your assets even faster. We have summarized the most important tips for saving taxes here.
Investing in your own skills is the best investment you can ever make. As you continually expand and internalize your knowledge, your financial IQ increases while lowering your investment risk. We have a collection for you of the best books on the subject of financial educationt. Take a look!
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We Swiss are world leaders for per capita wealth. Nevertheless, the statistics clearly show that only very few have an average wealth of This fact has once again made it clear to us at Schwiizerfranke.com that the topic of financial education plays an important role.
How did you like our article on average wealth in Switzerland? Do you have a topic you'd like us to address in the future? Feel free to leave us a comment
15 Responses
Hello, I have just discovered this compilation. Good overview. I will recommend this page to my children (aged around 30). What I'm missing from the list of assets is property ownership. The assets are zero if the mortgages are high enough. In my experience, home ownership, including property for rent, is still a very good investment.
And what I'm still missing: the income and asset situation of pensioners is not included. I wish that these figures would also appear here.
And the financial tips for this age group would also be important. Many people over the age of 65 continue to work and try various ways to improve their financial situation.
I would be delighted if these aspects were included here in the coming weeks and months.
Merci already now 🙂
Thank you for your feedback, Lilo! 🙂
These are very good suggestions, which I am happy to take on board. Reliable data is always important - if I find something suitable, I'll be happy to include it in the article!
Hello Eric
How did the statistics come up with a difference of 50%: "According to the statistics, our average (USD 696,604) and median wealth (CHF 168,084) are only around 50 per cent apart."? ?
Hello Herrmann
🙂 I wrote the sentence a little better.
Hello Eric. Note that your calculator says "assets according to tax return". However, 3a funds are not declared as assets in the tax return. In the graph above regarding the median wage, however, you write that 3a funds are added. What is correct now?
Is corrected, thank you 🙂
Great overview and work, Eric. Many thanks for that.
In my personal assets, I always include the PF assets according to the latest statement of the pension fund, AFTER taxes. I also consider the assets in the pension fund to be "safe" because many regulations apply that force the pension funds to invest conservatively. Large fluctuations should not happen. Instead, I can invest the money that remains after I have put aside the nest egg in a somewhat riskier way.
Hello Martin,
that's a good approach, thanks for sharing!
Personally, I also track this for myself in Portfolio Performance and have created a category there called "tied pension provision" -> so I always know which part of my assets I can access and which I cannot, or only to a limited extent.
Best regards 🙂
Which assets are included in assets (in Switzerland)? Specifically: Incl. or excl. pension fund assets (2nd pillar)?
Hello, Hugo,
A good question! The Swiss Federal Statistical Office includes pension funds in household wealth - and also shows directly that they represent a significant component of wealth.
Here is the link to the post: https://www.bfs.admin.ch/bfs/de/home/statistiken/querschnittsthemen/wohlfahrtsmessung/alle-indikatoren/wirtschaft/vermoegen-haushalte.html
Kind regards
Eric
Hmm... this "distorts" of course the thing with the assets but relatively strong, at least compared to countries where the pension to large parts in the "1st pillar" (state pension after pay-as-you-go) is inside... I suppose also therefore (not only) it looks quite different in Germany.
True, pension systems in other countries are generally structured differently - but they are probably taken into account on an equal footing in such considerations. Are you of the opinion that PF assets (or their equivalent abroad) should rather not be taken into account here?
My assumption/opinion: The credit balance of the 2nd pillar in Switzerland corresponds to the cash value of the expected pension (funded method). For a state pension, this amount is not visible or is not saved anywhere (pay-as-you-go method).
The PF assets are somehow an in-between between free assets and potential pension in the future, since there are (currently) possibilities to transfer these funds early into the free assets (home ownership promotion, self-employment, leaving Switzerland). However, such a capital withdrawal lowers the future pension, so compared to other countries it would be something like a loan that you then pay off during retirement with lower pensions. Overall, the comparison across different systems is certainly very difficult. Therefore, it would be interesting from my point of view to see how the situation is with and without pension funds, so everyone could make a picture and judge.
In addition, I find it problematic that the PF assets are still pre-tax, so to speak, and would only be taxed when transferred to free assets. At least this circumstance should be taken into account when comparing these assets with assets of people from other countries/systems. Whether the FSO takes this into account or not, I cannot judge. However, I tend to think not.
am here absolutely with you Hugo! If you find reliable data where this is taken into account accordingly, feel free to forward it to me. I also keep my eyes open 🙂
As a German who has lived in Switzerland for almost 11 years, perhaps I can help out. Yes, the German pension system is mainly based on a pay-as-you-go system like our AHV here. However, in Germany we also know the company pension plan (often in the form of a so-called Rürup pension), which is capital-based like our BVG (and so far at least does not suffer from hidden contributions as here), and with the Riester pension there is also a vehicle that is roughly comparable to the pillar 3a. However, I can't explain to you where the preference comes from to name screwed-up politically motivated pension innovations after people of dubious repute.
The occupational pension scheme is usually available to higher earners, while anyone can take out a pension. However, within just a few years of their introduction, both systems have become worse and worse.
My impression, which is also repeatedly supported by analyses and studies on the GINI coefficient, is that although we have a large spread in incomes in Switzerland, wealth is not quite as unequally distributed as, for example, in DE, AT or the USA.