Despite Italian retirees enjoying stable and relatively higher incomes than in other European countries, their approach to investment is often ineffective. This phenomenon, highlighted by analyses such as those conducted by Eurostat, shows how the net wealth per capita of retired households has declined, owing to a concentration on low-yield investments. Below, we address the most frequently asked questions that help to shed light on this paradox and the importance of encouraging a more dynamic and diversified approach to wealth management.
What role do elderly Italians play in the national economy?
Elderly Italians play a crucial role in the national economy, thanks to stable incomes that are, on average, higher than those in the rest of Europe. According to a Eurostat analysis, the ratio between the median income of the over-65s and that of younger cohorts stands at 98%, making Italy second only to Spain in terms of relatively equitable income distribution.
Why is the expression “elderly: wealthy but poor” used?
Despite holding relatively high incomes, elderly Italians tend to save little and invest ineffectively, concentrating their wealth primarily in property and bank deposits. This behaviour has led to a 17.8% reduction in net wealth per capita among retired households between 2013 and 2023.
What is the demographic situation of elderly people in Italy and what is their contribution to the economy?
The overall wealth held by the over-65s in Italy remains significant. Over the past ten years, the number of elderly people has grown from 12.4 million to 14.1 million, underscoring their fundamental contribution to the national economy, despite the challenges associated with the optimal management of their investments.
In what ways do future retirees differ from current ones in terms of investment behaviour?
The generation of future retirees, particularly the 55–64 age group, is sizeable and tends to diversify its investments to a greater extent. These individuals hold average net assets above the national average, which presents opportunities for improved wealth management if they are supported by an appropriate strategy.
What is required to improve economic efficiency in the management of elderly people’s wealth?
It is essential to encourage a more dynamic and diversified approach to wealth management, for both current and future retirees. This requires a concerted effort from institutions and the financial sector alike, with a view to delivering benefits not only to the elderly population, but also to future generations and to the Italian economic system as a whole.