At the time of retirement, Net worth shows the accumulated total of savings, debts and investments, which is a fundamental measure to evaluate financial stability. This indicator is, in fact, more revealing than income, since it allows us to know whether a person or family belongs to a low, medium or high economic level.
In Spain, retirement poses different economic realities for those over 65 years of age, reflected in the assets accumulated throughout their lives. According to the CaixaBank Research report based on data from the Bank of Spain, the median wealth of those over 65 reached 191,000 euros in 2020, which is considerably higher than the wealth of younger generations.
What type of retiree are you according to your assets?
These are the economic categories of retirees based on their assets in Spain:
1. Retirees with low assets
This group is in the lowest wealth range among retirees in Spain, generally below 50,000 euros. Retirees with low assets They tend to depend almost exclusively on pensions to cover their needs and often do not own real estate assets. Your financial situation may be vulnerable, as They lack significant savings and do not have a network of assets that guarantee stability.
2. Middle class retirees
With a net worth of around 191,000 euros, this group represents middle-class retirees. Often, His assets include a home, modest private pension plans, and some savings.. This level of wealth allows them to have a relatively comfortable retirement in which they can cover their expenses without major worries, although without great luxuries.
3. Upper middle class retirees
Upper middle class retirees in Spain have assets that range between 191,000 and 566,000 euros. This group It is characterized by owning additional properties, such as second homes or investment properties, in addition to substantial savings and some financial assets. These retirees enjoy greater economic independence, a better standard of living and a financial network that allows them to face unforeseen events or enjoy a more comfortable lifestyle.
4. Well-off retirees
In the group with the greatest assets are the well-off retirees, cwith a net worth of 600,000 euros or more. This group has diversified assets, including real estate, financial investments and investment funds. Their economic stability allows them to live with financial independence, take trips, access quality services and plan their family legacy. These retirees They usually have the freedom to adjust their lifestyle without worrying about pension dependency.
Retirements in the future
The retirement landscape in Spain is in a moment of transformation. The baby boomer generation, born between 1958 and 1975, is reaching retirement with a considerably higher level of resources than previous generations. However, It is expected that by the mid-2040s, people over 65 years of age will represent more than 50% of the working-age population, which will lead to additional pressure on pension systems and a growing dependency rate.
