According to the results of a survey conducted by the Fifg for the Financial Union of France last may on the young and the heritage, of the 25-35 year olds are considering a large majority of assets within the next 5 to 10 years. They feel concerned by the subject and have a vision uninhibited : the fact of having”heritage” is not the prerogative of rich people and heirs.
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Build a heritage and a project desired but not always achievable
If nearly 7 in 10 youth between 25 and 35 years said they did not yet possess wealth, 90% are considering to do so, which reflects a certain degree of confidence in the future and their enrichment capacity. However, they do not think always be able to achieve this short-term project, some procrastinate, others do not have the means or is not sufficiently involved. Thus, of the 90%, only 34% of respondents claim to be active in the constitution of their heritage. It profiles the most advantaged (higher diploma, CSP+, owners of property and holders of investment products).
Some bias may explain this perception. The great majority of the young people of 25-35 years of age believe that to build wealth, you need to be able to put aside a monthly average of 629 euros, which represents a relatively high amount. However, to save 200 euro per month – what they do for the most part – are already laying the groundwork for the constitution of a heritage.
A traditional representation of the concept of heritage
The survey shows that young people, although it is part of the generation Y (or deemed to be hyper-connected, individualistic and entrepreneurial), are relatively conservative and conventional in the field of heritage. They are 45% not to accept any risk and prefer to opt for products with a low yield. They really like to 82% of the livret A. The PEL and life insurance are less a young person. As for the libretto of sustainable development, only 29% are using them.
It is home ownership which seems to be one of their main engines. 78% of young people between 25 and 35 years say spontaneously that” heritage ” means in the first place to own real estate. Immaterial goods, stock, and savings, are mentioned by 36% of respondents. This finding is confirmed when it proposes definitions closed heritage. Three items relating to the property head : the possession of a primary residence, a secondary residence or land.
Conversely, the investment said to be “productive” (stock exchange, shares and shares in a company) is not part of the concerns of young people 25 to 35 years. Only 24% of them declare to be interested in the financial markets. The fact of having lived through a decade of financial crisis explains, no doubt, the distrust of this generation. The lack of financial education may also be the origin of this disinterest. 6 in 10 youth who do not respond well to the question regarding the savings strategy. Contrary to what the majority of them, save 200 euros per month for 20 years is more lucrative than 800 euros for 5 years, or 400 euros for 10 years.
An appetite for digital, but mainly for common operations
The young people of 25-35 years of age are turning to the digital to carry out the day to day operations of the management of heritage, such as the acts of the administration (75%) or management (55%).
However, this palatability decreases as and to the extent that their decisions become more engaging : a majority of respondents (53%) prefer to meet with an advisor to assist them in their investment choices.
This survey was conducted from 22 to 29 may 2017 by the Fifg for the Financial Union of France with a sample of 800 people, representative of the French population aged from 25 to 35 years.
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About the UFF : Established in 1968, Union Financière de France is a bank specializing in wealth management advisory. She helps her individual clients and business leaders. Its range of solutions, built on open architecture, includes real estate, securities and life insurance as well as a wide range of products for businesses (retirement savings plan, a salary savings plan, the management of liquidity in the medium-term, etc).
The Financial Union of France has a dense network present throughout France and is made up of 1 500 employees, including 1,200 dedicated to the council. The Financial Union of France has 211 000 customers, of which 187 000 individuals and 24,000 businesses.
Union Financière de France Banque is listed on Euronext Paris, Compartment B
Code Euroclear 3454 – ISIN Code FR0000034548.
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