How Switzerland saves its money

6 out of 7

respondents save or invest their money. Half of them put aside up to CHF 1000 a month. Women are less likely than men to save larger amounts (34% vs. 47%). People aged between 30 and 55 save and invest the most.

14%

of the Swiss "just start saving" without having a specific goal.

54%

of all respondents named retirement provision as their most important savings and investment goal. Having a financial cushion for unforeseen events is the second most popular reason (49%). "This reflects a great need for security in uncertain times," says Sacha Marienberg, the Head of the Migros Bank Investment Office. Saving for a home purchase is the third most common reason (31%).

The most popular option

for saving money is via a savings account. It is mentioned first in relation to nearly all savings goals. "The respondents are reluctant to take risks or lack the knowledge to invest," says Marienberg. The survey's respondents prefer using pillar 3a to save for old age or early retirement. Just under half of them also use it to save up to buy a home.

19%

currently use cryptocurrencies or have invested in them before. At 26%, 18-to-29-year-olds use them the most. Fewer than 10% of the over-55s do so. At 27%, men are more than twice as likely as women to have invested in crypto. "Most respondents are currently investing in cryptocurrencies out of sheer curiosity," says Sacha Marienberg. It'll be clearer in the next few years whether this will become an integral part of investment strategies.

46%

of the over-55s seek financial advice from a bank, asset manager or other specialist. This compares to only 16% of 18-to-29-year-olds and 19% of 30-to-55-year-olds. Across all age groups, only 8% rely on the expertise of friends and relatives.

26%

of respondents think that the most important thing is that their investment involves little risk. Large capital gains are a high priority for only 13% of respondents. Interestingly enough, on average, women place more value on low risk, sustainability and advice, whereas men attach greater importance to low fees and high capital gains.

27%

of the Swiss are extremely interested in financial and investment issues. Men are more interested than women (37% and 17% respectively). There is also a disparity between the different linguistic regions: only 22% of those in French-speaking Switzerland say they are very interested in such topics, compared to 28% in German-speaking regions and 29% in Ticino.

40%

say that their financial situation has improved over the past two years. Nevertheless, more than a fifth of respondents feel that they are financially worse off. "Life has become more expensive, and rising rents and health insurance premiums in particular are affecting many people," Marienberg says. People with low incomes in particular are reaching their financial limits.

CHF 100-500

in cash are held in reserve at home or in a bank safe by a quarter of respondents. The same proportion has less than CHF 100 in cash, while 20% keep more than CHF 1000 cash to hand. Older people tend to have higher cash reserves. This also applies to men compared to women.