Fortune: With this sum it is one of the richest ten percent of his age

Asset study
With this sum it is one of the richest ten percent of his age

When am I rich? A study shows how much money you have to be on the high edge, to belong to the richest ten percent of his age level.

As the Empire refers to Germany rather reluctantly. As a millionaire, Friedrich Merz feels prefer to be in the “upper middle class”. And Finance Minister, Olaf Scholz, sees himself as a “Very good income”, but “Empire” was not he now, really.

In the case of the two top politicians, this may not be a self-assessment calculation, in order to be considered as withdrawn. In fact, many wealthy people appreciate, but in Germany, your relative wealth. So three percent of the households felt that a survey of the Bundesbank in the year 2017, not even the richest 20 percent of the population belong to. An invoice that is not opened of course.

The Institute of German economy (IW) in Cologne, Germany has now published a study which anyone can read, whether he belongs to the richest ten percent of the population. Of the total population, you count seen, therefore, from a net household assets of 477.200 Euro in this group. The analysis show that “a household with a-Windows property in a good location, has good chances to include the assets of the richest 10 percent of society,” the authors write.

Younger are significantly less

Even more interesting than the General average value of the viewing according to the age groups. As compared with the total population, but with their peers, may include Younger with significantly lower sums of money to the richest ten percent. In the case of the Under-30-Year-old man is already a fortune of around € 70,000 in the top group. The 30 – to 34-in need of the age to 200,000 euros and the 35 – to 39-Year-old more than 300,000 Euro to 90 percent of their peers behind.

The Figures relate not to individual assets but on financial assets, taking into account the age of the main income earner is decisive for the classification in the statistics. Mainly because in the 30s, much married, a part of the increase in this age group is probably explained by the fact that two assets come together in a household. The wealth curve rises but also in the ‘ 40s, it was still steep. The Peak is reached in the 55 – to 59-Year-old: Here, you need assets of more than EUR 625,000, to be among the top ten percent.

Table: The richest ten percent of households per age

Source: IW Cologne; own illustration

For financial assets, real estate and financial assets count in the Form of money market accounts, savings deposits, securities, or insurance. All mortgages and loans are deducted. Operation of excluded assets. The Numbers come from the income and consumption sample 2018 of the Federal Statistical office.

The differences in Wealth within the age groups are the IW-according to Economists, considerably. Although the absolute amounts are in the Elderly, higher is the relative inequality among the Younger greatest. Every Fifth under 30 has even a negative assets – i.e. debts.

Whether you want to designate as “rich” if you belong to the wealthiest ten per cent, remains a matter of opinion. In asset research, households with assets of half a Million euros would generally still not as “rich” classified, according to the study. This is probably due to the fact that the differences within the richest ten percent are starker than in any other asset group.

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