The Swiss focus on security when investing
Published: Monday, Jan 8th 2024, 09:50
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The Swiss take little risk when investing money: According to a representative survey, they prefer to deposit their savings in savings accounts instead of investing in shares or bitcoins. Men are slightly more risk-averse than women.
According to a survey by Migros Bank, 61% of adults in Switzerland put aside up to CHF 1,000 per month. Almost 80 percent of those surveyed have their money in a savings account.
Just under half want to make greater use of this form of investment in the future. Respondents also want to use pillar 3a (38%) and private accounts (29%) more frequently.
Less secure investments such as bitcoins and other cryptocurrencies, however, are only considered by 4%. According to Migros Bank experts, this shows that investors are increasingly avoiding risk. In the same survey from 2019, 12% were still considering cryptocurrencies.
Few have a strategy
The most frequently cited savings goal was the desire to have a financial cushion for claims or unexpected payments. This was followed by saving for retirement and home ownership. Only 15 percent of respondents put money aside without a goal.
Meanwhile, most people are unclear about the best way to achieve their goals: one in two people stated that they "just go for it" without a concrete strategy. This is particularly pronounced among women (56%) and people under the age of 29 (58%).
Risk appetite varies
In general, women are less willing to take risks than men: only 4 percent of women are willing to take risks with the prospect of high profits, compared to 11 percent of men.
According to the authors, this is also reflected in the forms of investment chosen. Men are more likely than women to use various forms of investment such as real estate, shares or funds.
Finally, self-perception also varies: 60 percent of female respondents described their specialist knowledge as "not good at all" compared to only 34 percent of male participants.
The representative survey was conducted for the third time in October 2023 by the market research institute Intervista on behalf of Migros Bank. The survey was conducted online among over 1,500 people aged 18 and over from German-speaking Switzerland, French-speaking Switzerland and Ticino.
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