Introduction
Savings play a central role in the lives of the French, whether the goal is to prepare for retirement, anticipate unforeseen events, or transmit wealth. Each person, depending on their age and situation, adopts different strategies and faces specific challenges. Understanding the evolution of savings in France across generations allows for adapting choices and optimizing financial security. In this article, Cabinet Thiéblemont AXA offers a detailed analysis of the savings of the French by age, as well as practical advice to improve your wealth strategy, particularly for engaged retirees and seniors.
The Landscape of Savings in France: Key Figures and Trends
The savings of the French remains a major topic, both at the individual and collective level. According to the Savings Observatory of the Bank of France, the savings rate of French households regularly reaches some of the highest levels in Europe, with nearly 19% of gross disposable income devoted to savings in 2023 (source Bank of France). The main motivations are building a precautionary savings, preparing for retirement, and transmitting wealth. The most appreciated savings supports are life insurance, Livret A, the Retirement Savings Plan (PER), and regulated savings accounts, all offered by Cabinet Thiéblemont AXA, which supports both young professionals and seniors in optimizing their wealth.
Average Savings Amounts by Age: A Generational Analysis
The average amount held in savings varies significantly by age group. Young professionals, often at the beginning of their careers, have average amounts that are more modest, around €5,000 to €10,000. In contrast, individuals aged 60 and older display average amounts exceeding €65,000, notably due to the gradual accumulation of capital and the search for secure solutions like life insurance or individual PER. These figures are from the latest INSEE report on household savings (see the INSEE study).
To delve deeper into this topic, also find the complete analysis on the Wispra directory version of our article, which details savings behaviors generation by generation and offers practical advice tailored to each profile.
Seniors and Retirees: Challenges and Opportunities of Wealth Savings
As retirement approaches or during retirement, wealth management takes on a particular dimension. The transition to retirement often comes with a decrease in income, hence the importance of anticipating and diversifying investments to maintain one's standard of living and address potential health needs. Many retirees prefer secure and liquid solutions, such as life insurance or health insurance, to preserve their capital while ensuring easier transmission to their loved ones.
At Cabinet Thiéblemont AXA, we assist our clients in these strategic choices, taking into account their specific needs and values, particularly the desire to integrate a responsible and sustainable dimension into their wealth. The focus is on transparency, education, and personalization of advice, to reassure and engage each senior in a sustainable wealth dynamic.
Savings Strategies Tailored to Each Stage of Life
To optimize savings, it is essential to adapt choices to one's situation and objectives:
- Young professionals: Prioritize precautionary savings (Livret A, LDDS), then gradually open an individual PER or life insurance to benefit from tax advantages and prepare for retirement.
- Self-employed professionals and entrepreneurs: Complement mandatory schemes with foresight and savings solutions tailored to their status, such as CAP AGIPI foresight or ARC AGIPI borrower insurance. Cabinet Thiéblemont AXA offers specific support to secure the future while optimizing taxation.
- Active parents: Ensure the protection of their family in case of life's uncertainties and build long-term savings to finance family projects or children's education through life insurance or euro-growth funds.
- Seniors and retirees: Diversify between liquid supports and long-term investments, while prioritizing security and wealth transmission.
Each solution should be chosen based on one's wealth situation, immediate needs, and long-term objectives, relying on expert advice to avoid the pitfalls of regulatory complexity.
Practical Tips for Optimizing Savings as a Senior
For engaged seniors, there are several levers to strengthen the security of their wealth and prepare for transmission:
- Prepare for transmission: Life insurance remains a preferred tool for transmitting capital while benefiting from reduced taxation and great flexibility in beneficiary designation. Seniors can also optimize their succession by combining life insurance and donations.
- Diversify investments: Combining security (euro funds) and dynamism (euro-growth funds, units of account) allows for capital preservation while generating returns, depending on risk appetite and investment horizon.
- Subscribe to an adapted health insurance: Needs evolve with age; choosing protection that covers major health expenses is essential. The Cabinet offers tailored offers, including the health insurance "My Health" and "AGIPI Health".
- Stay informed about taxation: Tax rules evolve regularly; being supported by an expert allows for anticipating the impact of taxation on investments and benefiting from the most advantageous schemes (see the official portal of the French administration).
Social Responsibility and Sustainability: A Committed Savings for the Future
Today, the responsible dimension of investments is at the heart of seniors' concerns. Investing in products that incorporate environmental, social, and governance (ESG) criteria allows one to give meaning to their savings while contributing to sustainable transition. More and more offers, including those from Cabinet Thiéblemont AXA, integrate this dimension, combining performance, security, and commitment to the planet.
According to a recent report from France Assureurs, over 40% of new investments in life insurance in France are made in responsible labeled supports (see the France Assureurs report).
Being Supported to Secure and Transmit Wealth
Support from an expert remains a key lever to secure savings, optimize taxation, and anticipate wealth transmission. At Cabinet Thiéblemont AXA, we are committed to providing quality advice, tailored to each stage of life, to help you make the right choices in the face of the growing complexity of savings schemes.
The savings of the French is not just a lever for personal security: it also embodies a responsibility towards loved ones and society. Taking the time to analyze needs, surrounding oneself with expert advice, and integrating a responsible dimension into wealth strategy is the best guarantee of lasting peace of mind.
For a complete analysis of generational savings trends, consult our detailed article on the Wispra directory.
Sources and Resources for Further Exploration
- Savings Rate of French Households – Bank of France
- INSEE Study on Household Savings
- Savings Taxation – Public Service
- Key Figures Life Insurance – France Assureurs
For any questions or for wealth support, make an appointment with our team at Cabinet Thiéblemont AXA. Because securing and growing your wealth today is preserving your peace of mind and that of your loved ones tomorrow.