Currently, 4.7 million people are said to be rich in income in France, and no less than five million rich in heritage, according to the latest “Report on the rich in France”, from the Observatory of Inequalities. But not everyone is in the same boat, and with inflation and the purchasing power crisis, making ends meet is often difficult for the French. So, at what age do you become the richest? According to TF1, the average age at which wealth is achieved continues to decline in the country.
In 1998, peak wealth was reached at the age of 55 years old then around 60 years old about ten years later. But the situation has changed. Today, there would no longer be a level, indicates the National Institute of Statistics and Economic Studies (Insee). “In 2021, average wealth increases with age up to around 50 years, stabilizes, then decreases beyond 75 years for people living at home”specifies INSEE. It is therefore at 75 years old that the average wealth would be the highest, namely approximately 360 000 euros.
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How to explain this phenomenon? There are several reasons, all of which are more or less generational. Life expectancy has increased, therefore, “children generally also inherit later”deciphers with TF1 a notary based in Bas-Rhin. It is also necessary to take into account the standard of living of retirees which has increased in recent decades with an increase in retirement pensions.
As a result, compared to previous generations, retirees draw less on their savings, or even increase them, indicates INSEE. Questioned by our colleagues, retirees recall that women did not work (or very little) until a certain period and therefore had almost no retirement.
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To this must be added the «chance» that some retirees had to buy at a time when prices were increasing sharply in real estate, therefore “their assets have mechanically increased”analyzes at the microphone of TF1 the economist and member of the college of experts of the Veblen Institute, Maximilien Coussin. But 75 is not a reference age. Afterwards, the dependence is often more significant and the expenses linked to it significantly reduce resources retirees.
