Your Net Worth and Income Compared to the EU Average
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- Опубліковано 1 чер 2024
- Have you ever wondered how your net worth and income compares to others across Europe?
🇪🇺 Best broker in Europe (ETFs): angelo.fi/ibkr
You may be surprised to find out how your net worth (wealth), savings rate and income compares to the median in your age group, your home country or Europe as a whole! Sources below! 👇
My Favorite Brokers (ETFs & Stocks):
🇪🇺 Interactive Brokers: angelo.fi/ibkr
🇪🇺 Trade Republic: angelo.fi/trep
🇩🇪🇦🇹 Easiest for Germany & Austria: angelo.fi/etfs
👉 Compare ETFs & Stocks: angelo.fi/comp
My Current Top 3 in P2P Lending:
📌 Esketit (0.5% bonus): angelo.fi/esketit
📌 Mintos (50€ bonus): angelo.fi/mintos
📌 Income (1% bonus): angelo.fi/income
💰 All P2P bonus offers & conditions: angelo.fi/all
⚡ Where I Buy Crypto (10€ bonus): angelo.fi/bit
📈 I Track my ETFs here: angelo.fi/getq
🏠 All my investments & accounts: angelo.fi/tools
⏰ Time-Stamps:
00:00 Intro
00:23 Median vs. average
01:23 Median income by age in Europe
02:37 Income by age in Germany
03:29 Part-time vs. Full-time work, men vs. women
04:34 My own income in comparison
05:12 Savings rate by country in Europe
06:17 Median net worth or wealth in Europe
09:52 How does your income and net worth compare to the EU average?
ℹ️ Sources used:
ec.europa.eu/eurostat/databro...
www.gehalt.de/news/gehaltsbio...
www.stepstone.de/e-recruiting...
www.statistik.at/en/statistic...
ec.europa.eu/eurostat/databro...
www.iwkoeln.de/presse/pressem...
www.insee.fr/fr/statistiques/...
opendata.cbs.nl/#/CBS/nl/data...
www.insee.fr/fr/statistiques/...
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Some of the links are affiliate links, which help support me and the UA-cam channel. Still, none of the links are sponsored.
Disclaimer: I am only sharing my own experience. I'm not a financial advisor and you should always do your own research and due diligence before investing. Investing involves risk of losses.
Full list of sources below! 👇
🇪🇺Interactive Brokers (ETFs): angelo.fi/ibkr
🇪🇺Trade Republic (ETFs): angelo.fi/trep
👉Compare ETFs & Stocks: angelo.fi/comp
📌Esketit (P2P): angelo.fi/esk
📌Income (P2P): angelo.fi/inc
📌Mintos (P2P): angelo.fi/min
🏠All P2P Deals: angelo.fi/p2p
⚡Where I buy Crypto: angelo.fi/bit
📈I track my ETFs here: angelo.fi/getquin
🇦🇹🇩🇪Germany & Austria only (ETFs): angelo.fi/atde
ℹ️Sources used in the video:
ec.europa.eu/eurostat/databrowser/bookmark/50ab5283-3419-4b1c-8d54-868cf40d0f0f?lang=en
www.gehalt.de/news/gehaltsbiografie-2019
www.stepstone.de/e-recruiting/wissen/gehaltsreport-2022/
www.statistik.at/en/statistics/population-and-society/income-and-living-conditions/monthly-income
ec.europa.eu/eurostat/databrowser/view/TEINA500/bookmark/table?lang=en&bookmarkId=6ed349e7-6b2d-41d7-912f-cd29ab2c3420
www.iwkoeln.de/presse/pressemitteilungen/judith-niehues-maximilian-stockhausen-wer-in-deutschland-vermoegend-ist.html
www.insee.fr/fr/statistiques/5371259?sommaire=5371304&q=Patrimoine+net+des+ménages
opendata.cbs.nl/#/CBS/nl/dataset/83834NED/table?dl=3A4B2
www.insee.fr/fr/statistiques/5371263?sommaire=5371304&q=Patrimoine+net+des+m%C3%A9nages
Can you make a video about the IBKR mobile app?🫡
I think I need to move to Luxembourg 🇱🇺 😅
Thanks for the video, you've done a great research!
I (🇪🇸 31M) work in banking and my wife (🇫🇮 29F) works in pharma, so we're doing a bit above the median where we live (currently 🇫🇮, soon 🇳🇴). We invest about 60% of our combined net salaries, but it's definitely not the common behavior around our friends group or acquaintances, which is somewhat demotivating at times.
That's why I enjoy dropping by here and seeing like-minded people making great financial decisions and giving tips to others!
Keep it up!
Yeah 😅
Thank you!
That's great, kudos to the two of you! I get that, although I find it actually motivates me to know that we're doing something out of the ordinary, but maybe I'm just weird :)
Definitely happy to have you in the community, thank you for being here 🙏
I'm above Median net worth in both the Netherlands and the EU...but the real challenge is matching Angelo's 70% saving rate 😅
😅
That is possible for a very short time span. Then you have kids, a mortgage and a kinderopvang...
Nice, kudos to you!
About the savings rate: 🤣
indeed, the daycare in the Netherlands is crazily expensive :(@@delikanzorbeygokyildiz4598
@@delikanzorbeygokyildiz4598 I don't see where you guys spend so much cash on your kids... Sure money clothes etc. But you don't need to spoil them all the time, grant them big handouts etc. I hope Angelo can raise his little daughter to be less or a materialist and more in harmony with her work life balance!
I'm from Bulgaria, age 45. I work in IT and my net income is about 2 times higher than EU median for my age. I started investing 2 years ago with small amounts, so my net worth is not very high. But better later than never :). I'm able to save 40% of my income now, so I hope things to be changed quickly. Love your channel, keep up with good work.
Nice, cheers to that!🥂 Thank you for sharing, Ivan! Very happy to hear that you're enjoying my videos 🙏
How much is your net worth in Bulgaria ?. Also how many people have 1-1.5M in assets in Bulgaria ?. What bracket is that also?.
I am from Romania, 28 years old and I make a little more than double the median of my age group. Seeing those numbers makes me realize how far behind we are compared to the rest of Europe. I am currently living in a frugal way and save about 25-30% of my salary per month.
Thank you for another interesting video, I am a big fan. Wish to see your next video soon!
Still, double the median is quite an achievement! Yeah, my wife is from Hungary and her friends in Budapest have the same issue. The average salary is several times lower in comparison to the median in the euro area.
Thank you for sharing those details and for the kind words. Happy to have you here! 🙏
Very interesting man! Keep up the good work!
Hi, Angelo! Thanks for the very useful video. Wish you to keep the same high level of your UA-cam channel.
You're very welcome Teodor! That's the goal, I'll try my best 🤞
Another boom shell from you again bro, you're the best on passive income investing channel in the whole of Europe!
Thank you for making my day!🥂
Well done again!
Thank you!
Hello Angelo! Thank you for yet another great video. Have you ever considered making a live UA-cam session with your subscribers?
That could be fun!
Not a bad idea, if I find some extra time I'll definitely consider it! Right now me trying to make one (useful) video each week is already taking up most of it 😅
Nice video man!
Matt, long time no see! Need to write me next time you're in Vienna. Thank you!
Great research!
Thank you Danijel!
Very interesting, thanks for sharing :)
You're welcome!
Thanks for the research.
I live in Czech Republic, age 35, I'm significantly above EU's median or average. I'm in IT, and I also create paywalled content for passive income that worked out well. It was a lot of hard work, but things started to really snowball the last 2 years.
My pleasure, Andrej! That's great to hear, kudos to you for finding and dedicating time/energy to an opportunity like that!
Good morning, will you be able to clarify some doubts for me? Can you tell me if there is an agreement for European shares that we can complete or are we double taxed on dividends and capital gains? For example, if you buy LVMH shares and how it pays dividends, will you be taxed in France and Portugal plus 28%? Example if I want to buy Prada shares in Degiro it is only available in Hong Kong and Tradegate, if I buy in Tradegate and as the share pays a few measly cents in dividends, can you tell me exactly what I would discount? Is there any agreement with Portugal or would it be double taxed? Thanks
Hi Angelo and thanks for the video. Could you please write the links in the description where you got the data from ?
Of course, thank you for the reminder. I ran out of time yesterday. Since it may mess with the UA-cam algo, I just added all sources to my pinned comment!
Great video! Greetings from the Netherlands! I am way above medium salary in my country but my saving rate is medium as well, unfortunately. Working on improving this.
Thank you Valentina! Cheers to the salary, I'm sure the savings rate will follow 🥂
I'm not an EU citizen but I love to watch your videos. I plan to move to Spain or Portugal after I reach FIRE in the future.
Happy to hear that, Vince! Great choice, I think FIRE should be very enjoyable in those two countries.
Thanks Angelo for all the info, I’m currently well below the average since I’m studying and unemployed. Just a quick question. What do you think about volontary pension savings in a bank when compared to investing into an etf like VWCE? I think they are very similar since the bank’s interest is also diversification and steady long term growth.
That depends on how disciplined you are when it comes to investing through broker - bank wil usually charge a fee that eats out a lot of the snowball when compounding, but when it has a fixed date/year when you can withdraw the money, and you don't trust your future self not to withdraw it at a bigger emergency, it might be worth it. Also you can see the reports as to what the big players are investing in and then boost it through the broker.
Hi Adrian, my pleasure! Been there myself ;)
At least in my home country Austria the pension system is clearly unsustainable (both how the money is invested and how I'm just paying someone else's current pension right now basically), so while I'm forced to pay a lot into it via social insurance every month, I wouldn't add any more out of pocket. We also have somewhat tax-advantaged fund-based life insurances here as an alternative, but there you just end up paying a large percentage of your initial investment to an insurance company and it basically takes 10 years to reach the amount you paid in in the first place...
So in my case, I feel like going with VWCE or other low-cost ETFs myself is the best long-term option.
I'm not sure I fully understand what you mean by voluntary pension savings in a bank? A normal interest paying bank deposit?
@@AngeloColomboFi in Slovakia we have the "First pillar" of retirement which is mandatory from social insurance, the "Second pillar" where you can decide that percentage of the first will go to, and to what level of risk you want to invest it (mine is 100% shares as I am still rather young). In the last place there is a "Third pillar" - basically another state monitored bank product to which an employer might match your contribution, and it has a tax free amount of shocking 180 euros a year - I use that to get back tose 36 euros from state, because why not 😀
@@matejpavelka4153Yes I was referring to the third pillar. In Croatia it is a bit better where your employer can controbute with almost 800 euros a year without paying taxes. Thanks for all the info, I think the conclusion is that it’s the same thing just with the bank taking a comission :)
Grazie per i tuoi video, molto informativi e interessanti. Avrei una sola preghiera: se puoi rallentare un poco il ritmo quando parli, perché tante volte non riesco a seguire ogni singolo dettaglio di ciò che dici. Complimenti comunque, continua il tuo ottimo lavoro!
Very interesting video Angelo! I find it somewhat depressing how low the wages and net worths are across Europe, especially in countries such as Romania, Bulgaria, Hungary and to my surprise Greece. I suspect the "black economy" is quite strong in those countries still? Also, please remember that Europe is larger than the EU. Dont forget the people of UK, Iceland, Liechtenstein or us in Norway.
oh no, with Norway salaries statistics we all become depressed :))) joking
I am saving around 50% of my income. I am at age 39 and started my investing journey very late, about 3 years ago. Despite that I am a bit better than my age group in Germany even though I'm from Greece, one of the lowest ranking in the EU. I think if I can continue with the same consistency for the next decade I will be ok and further ahead than my peers.
Cheers to that! 🥂
As a 27 year old with 4 years of experience in Investment Finance and Law in Luxembourg 🇱🇺, I can tell you that you that it's very difficult to ascertain the median salary for my braket, as I get sometimes bombarded by outlandish job offers in gross amount, which after taxes do not seem to be that hight, while people with much more experience than myself seem to be getting lowballed left and right.
Nevertheless, even without being too frugal, I am comfortably living and enjoying life, while saving 40-50% of my monthly net income, which i was unable to do in the Netherlands 🇳🇱 much less in Bulgaria 🇧🇬.
Thank you for the informative video.
I really appreciate you taking the time to share your experience, Radoslav!
My pleasure!
Hey Angelo just discovered your Channel, good work!
I'm based in Switzerland, which means I need a lot more money, as I plan to stay here as well... So my FI Number is closer to 2.5M than it's to 1M :O, but we've got higher salaries as well.
You're also a bit older than me, I'm 26 and I thank you for your insights with more experience than I have. I seem to have started well, as I invest in VT but the "boring middle" - aka life between now and FIRE is actually the hard part for me personally :P
Thank you, happy to have you here!
True, and you always have the option to move somewhere else in Europe in case you wanted to retire earlier. My pleasure! Just don't forget to enjoy the journey on the way there. If it feels boring right now, you might want to change something :)
I'm from Latvia our avarage salary is about 1k a month
Hi Angelo, just came across your channel as I've been looking at Peer 2 Peer lending. My house is on the market in the UK for 275K and I'm seeking to borrow to bridge the gap until its sold as it could take a few between 4 to 6months. Which platform would you recommend?
No idea, I only experienced the investor side and have no idea about what's available to you in the UK :/
@@AngeloColomboFi Thank you, will keep looking.
Greetings from Bulgaria.
Is 37.000 € net per year good for Italy for a couple in their thirties? Also ~80k€ in financial asset, 0 in real estate (renting)
Yes that’s great 👍
Wondering whether net worth includes social sec. contributions towards pension, which is (still) a thing in Europe.
Regarding the table presented for Germany around 6:35 , I assume it doesn't. Which explains the jump in net worth at age 74.
Hello, Angelo! I'm 26 and would like to start saving up. I want to start with ETFs and saw that Revolut offers the one I'm interested (VWCE). Would you recommend trying to do it via Revolut or Interactive Brokers? Is there a major difference fee-wise? Thanks!
Hi! I'd definitely go with Interactive Brokers instead: ua-cam.com/video/4B05bx3pHT8/v-deo.html
From what I read, Revolut charges a 0,12% custody fee and most likely you won't be able to transfer your shares to another broker.
@@AngeloColomboFiThank you for the reply and information!🙏
Is it normal to subtract house loan debt from assets to find net worth?
Hey Angelo, Revolut has started allowing to buy ETF from their platform. What’s your take on that?
From what I read, Revolut charges a 0,12% custody fee and most likely you won't be able to transfer your shares to another broker. I'd stick to these brokers instead: ua-cam.com/video/4B05bx3pHT8/v-deo.html
thanks @@AngeloColomboFi
Hi Angelo, Daniele here. I am Italian living in Ireland for 10+ years. I am above the median for my age group. With my wife we have a 2 year old and another one on the way. We hve a mortgage and 1 child in daycare, next year two😅.We invest to beat inflation and to have more money when retire in addition to the private pensions. Keep it up the great work😊
Ciao Daniele! Above median for Ireland is a nice achievement, since you have some of the highest salaries in Europe there. Congrats on the second kid :) Just curious, how much are you paying for daycare? Our 11 month old girl just started last week and we're lucky that daycare so inexpensive/well-subsidized in Vienna.
@@AngeloColomboFithanks for your reply. Since last year the goverment increased the subsidy for day care we pay 610 for full time from 7:45 to 5:30 pm. This is for the first 3 years from 3-4 should be around 500 then preschool 4-5 and school from 5 is free of charge. Thank God😅😅
That's a lot better than I would have thought actually, after hearing the crazy high amounts others are paying in the Netherlands for example! Our private daycare costs 200€ for full-time (7 AM - 5 PM), after government subsidies from 1-6 years.
@@AngeloColomboFi luck you guys!! Really?how much is the day care in the Netherlands?
@@AngeloColomboFi is the subsidy in Austria universal or calculated on household income?
Do you think the big jump in net worth after thirty might be connected to many people starting to live as couples and creating one higher net-worth household? As my guess would be the majority under 25y are single-person households
That's possible, in addition to people earning more on average in their 30s due to more work experience, the first few promotions etc
Hello angelo, i want to open an account on ibkr, which option is best for DCA into US
Stocks
Do you mean which pricing model on IB or what exactly? Fees to buy US stocks are very low on IB, so I would first test with tiered pricing (starting at $0.35) and see if you ever get above $1, after which fixed pricing makes more sense. If you mean lump sum vs. cost averaging, watch this: ua-cam.com/video/yOWAhL6MFF8/v-deo.html
Thanks for the video! I am from Ukraine, making around 78k euro after taxes due to an extremely low tax rate for private entrepreneurs in my country (5%). I’ve got a fully paid apartment that was worth around 140k euro before 24 of February 2022 and Russia’s invasion into my country. Current price is unclear. Also my saving rate dropped from 67-70% down to 55% now that I’m traveling around the world and am unable to stay home. Still doing good when compared to the data that you’ve shared! Thanks once again for reminding that things aren’t that bad
My pleasure Volodymyr! Appreciate you sharing, you're definitely doing great! A 55% savings rate is still fantastic, especially at your income level.
Now let's hope that this nonsense war stops as soon as possible 🙏
Рад видеть что я тут не один украинец)
what do you mean especially at his income level? bro he's the 1%, its easy to save 55% when you make that much@@AngeloColomboFi
70% is absolutely crazy! I am in the Netherlands and I save around 35%. I am not complaining, but I want higher saving rate haha
Yeah, low expenses (especially rent) make all the difference for us. Unless we decide to have a second kid at some point we should be good with our place, but let's see :)
Since the purpose of the median is to account for outliers, I don't understand why you removed Switzerland and Luxembourg for being outliers.
Good to see some EU data. I mostly just see US data on Networth. My networth is 1.72 million US.
Hi. I moved 5 years ago from Germany to south Spain. Here people are better off then it seems. Many people are self employed and declare only a fraction of their income. So those statistics are screwed. Many people own their home and a second home in a village in the country side. I have never seem that in Germany. Actually people saving hard until they buy their flat and then change to heavy spenders.
Thanks for your vids
Thank you for sharing your insights!
The higher percentage of home ownership (I think it's 76% vs. 45%) may be why Spanish people have a higher median net worth compared to Germany.
You're very welcome!
@@AngeloColomboFi Some methodologies consider ownership of house for living as net worth, others exclude it. I wanted to ask if You know which was the case here. Thank You for spending time to gather the data. Super interesting!
@@branislavgoga3706 why should it not be taken into account? If you have real estate worth 400k and 200k mortgage, you still have 200k equity that is yours, just like book gains in stocks.
Seeing these numbers I do understand why you left out Switzerland 😊😇
😅
It would be nice to account for inflation in the net worth data as it is from 2018 (for Germany at least).
Why not throw the numbers I shared into an online calculator then? I already spent way too much time on the video, doing that with every statistic (keeping in mind every country has different levels of inflation!) would have added several more hours 😬
you make money from the videos @@AngeloColomboFi
5 years ago, I was below the average in terms of net worth for my age group. Now, my net worth is 4 times more than the minimum required to be in the top 10%. The secret: starting a successful business that allows me to work from home and travel the world as I want for conferences and meetings with clients. Targeting financial independence in 2 years and never planning to retire, I am living the dream.
That's fantastic, thank you for sharing and congrats!
Nowadays, I can save about 60 % of my salary and invest almost 80 % of the savings in various forms of investment every month. Fortunately, this puts me well above the median for Germany. I am 32 and could be in the top 10% at 34! Thank you for the motivating video!
That's awesome, cheers to that! 🥂
Hi Angelo. Nice video. Can you share how you managed to save 70% of your income? I am trying to do the same by saving as much as possible. I know the level of income plays a crucial role in this. But I am curious. I am the sole breadwinner in my family with a child living in Germany. So far I can only save about 37% of my net income.
Thank you Ammar! We have two incomes and low living expenses, so it's easier :)
I talk about it in more detail here: ua-cam.com/video/QPwguilb4ds/v-deo.html and in a more recent video here: ua-cam.com/video/HCwoH-W25bQ/v-deo.html
Unfortunately you can't save 70% if not living in a property you own or have the possibility to rent cheaply. I earn way above the average but where I live currently rent is 1000+ (1500-1700 is common now) + 150 bucks from my netto for basic health care, 250-300 q month for bills (gas, electricity, water, garbage, internet)...
I feel poor despite being in the top 10% of the oldest bracket (and I am 37).
I feel like I need at least 5 million to start to have a really abundant lifestyle.
I might be overestimating the amount of money needed to live happily.
Dude, you should be celebrating instead 🥂
I'm sure you're overthinking it. This video might help if you haven't seen it yet: ua-cam.com/video/HCwoH-W25bQ/v-deo.html
29 years old here, work in Marketing. I earn slightly less than the median 27 countries for my age, but 50% more compared to my own country's median (Portugal). Shame we are falling so far behind in Europe. Congrats to Czech, Estonia and the other countries fighting hard!
Thank you for sharing! 50% above your country's median is a nice achievement, cheers to that!🥂
@@AngeloColomboFi Thanks Angelo! I worked hard to be able to achieve this feat and I ain't stopping 💪
Thanks for the work you put in this channel, always love your content!
@ 8:22 French farmers filthy rich 💵💵💵
i´m from Portugal and i´m above european median for my age
Cheers to that! 🥂
I am from Denmark i have a personal networth of about 20000 euros, my net income is about 2000 euros a mounth, me and my wife save about 50 percent of our income and we both earn below average
I forgot to say i am 30 years old
Thank you for sharing Sebastian! 50% is a fantastic savings rate, cheers to that 🥂
I discovered your channel a couple of days ago. You are doing a great job with your videos. Greetings from Poland. P.S. my savings rate is close to 25%. Would love it to be higher but I would probably need to get a divorce to achieve that,😂 so 25% needs to do.
Thank you, I appreciate it! 25% is way more than most people are able to set aside, so don't be hard on yourself! 🙏 Cheers from Vienna
Why my comment is gone? I was asking about Bitvavo
Hey Nicks, must have been auto deleted by UA-cam :/
What was your question regarding Bitvavo?
So I was asking whether you have used it or would like to use it and if you can give your review/opinion about it. It's a platform where you can easily buy crypto and they have staking rewards. I have a small investment portfolio there as well. So saving accounts, P2P lending in Mintos, ETFs in IBKR and crypto from Bitvavo
Hello Angelo, I made my first purchase of vanguard FTSE all word yesterday for 200€. Today the value dropped so my portfolio is negative 196€. And I received the message that they will liquidate my account because it’s on minus. I thought that once I buy the share I own the shares even if they down. Does it mean that during the hard times I have to continue paying in so my account is not on minus? I thought that since I have shares I can simply wait that they increase in value…
Are you using a margin account or were you using leverage instead of money that was sitting on your account? And where did you buy the shares? Your shares are never at risk of liquidation unless you borrowed money. Feel free to send me more details like screenshots via email: p2pinvesting.eu/contact
Be mindful that average is missleading (creates biasness) and median should be taken into consideration...
It's literally the first thing I talk about. You should probably watch the video first 😅
@@AngeloColomboFi Hello Angelo, I watched all your videos and I like all of them. You are right, I didn't hear well. Please, accept my apologies :)
I need a job so I can invest more been having a income of 0 most of my life bit hard to invest with that.
Most people go through periods like that, I'm sure it will get better :)
?????????
🤔
And here is me … 46 years old, earning 70k per year, no savings and in a debt of 100k … yes, I screwed up. It makes me cry seeing this video 🥲🙈😅
It's not too late, you can still have a good 30-40 years of investing ahead :)
@Yeah I know, but it's waaaaaay harder now than with early 20's ...
I think it's all a matter of perspective. You can't go back in time, so there's no point in feeling regret. Just make the most out of the time you have :)
@@borisbojic for sure it is. But understand that you'll still do better than 95% of the population! Most never quit the rat race...
@@Cookie503 I never really learned how to deal with money. Since I was a student, I always spend more money than I actually had. And I stayed like this for years and years …