The respondents save 463 euros per month in average, and this is a positive point. However, most of these savings are not included in the financial strategy, as 80% of respondents say that they simply keep funds in their accounts and do not use financial instruments.
A relatively low percentage of people use their savings to create a pension plan (36%), deposits (27%) and mutual funds (17%). Insecurity about future also forces many to stick to conservative norms of behavior. 56% of respondents do not believe that their retirement benefits will be sufficient to allow a comfortable life.
Given the uncertainty about the national pension system state, almost eight out of ten respondents (77%) believe “it makes sense to save very little money.”
Source: https://www.bbva.com/en/saving-for-retirement-the-greatest-challenge-facing-spanish-baby-boomers/
Photos are from open sources.
