France’s household financial assets reached €5,233bn in 3Q17, 8.5% higher than a year before, which represents an average household wealth of €178,200, notes Julien Manceaux, Senior Economist at ING.
“With €1,576bn of debt, net financial wealth was €3,658bn, or €107,700 per household, which is 15% more than in Germany.”
“French savers have developed a strong preference for long-term safe assets through the years, with life insurance now representing 37% of the total and the various forms of savings accounts representing 18% of financial wealth. Since 2009, French households have saved €722bn representing around €260 per month. They disinvested stocks and mutual funds in favour of savings accounts and life insurance.”
“Riskier financial assets like mutual funds, bonds or stocks represented a mere 12%. This is in line with recent surveys showing that 8 out of 10 people do not trust stocks for their savings. This has not stopped the French from being among the largest holders of stocks in the Eurozone, but that's largely because wealth distribution in France is not as equal as one may think.”
“Looking at the distribution of wealth, it is interesting to note that while France is among the European countries with a relatively low income inequality, the inequalities in wealth distribution are more pronounced.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.