Net worth by age: How much you should have saved by the age of 30, 40 or 50

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According to the study: Are you average with your wealth?

The older, the higher the wealth? Yes, but only up to a certain age.

How much money have Germans saved on average? Find out how your wealth compares to other age groups.

In the past, Germans were always considered the big savers. And in fact, compared to other European industrialized countries, they still are. LoudFederal Statistical OfficeCitizens saved an average of 11.1 percent of their income in 2022.

Even though it was 14.9 percent last year, the Germans are still at a high level at 11.1 percent despite inflation. According to Statista, the savings rate in our neighboring country Austria was only 8.8 percent, and in Italy it was only 2.1 percent. Only the Netherlands and Switzerland have a higher savings rate at 12.7 and 18.4.

But how much money has a 30-year-old saved on average and how much does a 50-year-old save? We have the answer.

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The younger you are, the smaller your assets?

The younger you are, the less money you usually have saved. A study based on theIncome and consumer sample from the Institute for German Economicsfrom 2018, which is carried out every five years, confirms this common assumption: according to the study, the assets of are below30-year-olds average 5,000 euros. Die30 to 34 year oldsare already average17.800 Euro.

Net worth: How much should you have saved between the ages of 35 and 49?

From 35 to 39 years old it is 45,800 euros40 to 44 year oldsthe assets almost double to an amount of87.200 Euro. In the 45 to 49 year old age group it is already 105,000 euros.

Net worth: How much should you have saved between the ages of 50 and 64?

Your wealth will continue to rise afterwards, but at a much slower rate. The assets of the50 to 54 year oldslies by115.100 Euro. people between60 and 64 yearscould120.500 Eurosave up.

Wealth: How much should you have saved by the age of 70?

The peak of wealth is then reached between70 to 74 yearswith an average savings amount of129.600 Euro. From the age of 75 onwards, assets even decrease again and average 112,500 euros.

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By the way: In general, you should always have an emergency fund saved that you can quickly access if you urgently need money. Only when you have a financial cushion can you think about what you will do with the money you have saved that goes beyond your emergency fund.