Travel, family and financial security: the top life goals of the Swiss

Basel, 27 November 2024. What are the major life goals of Swiss people? A new survey conducted by Baloise in collaboration with market research institute YouGov put this question to 1,277 people aged 18 to 79. A cross-section of the population was surveyed and the questions ranged from general risk appetite and sources of inspiration for life goals through to goal achievement and reflections on the meaning of life.

The survey results in brief
 

• Moderate risk appetite among the Swiss
  According to the survey, most Swiss people are neither particularly open to risk nor risk averse, although they exhibit higher levels of risk appetite where their personal development and leisure time are concerned. Women and older people tend to be less risk tolerant than men and younger people.
   
• Travel and family are the top life goals
  The most important life goals of the Swiss relate to travel/holidays (31 per cent) and family/children (29 per cent).
   
• Family and friends are the biggest source of inspiration
  Of the respondents, 68 per cent draw inspiration for their life goals from their family and friends. In fact, more than a third say that family and friends are the most important source of inspiration.
   
• Mixed levels of satisfaction with goal achievement
  While satisfaction with the pursuit of goals related to family (45 per cent), relationships (44 per cent) and social circles (40 per cent) is high, far fewer people report being very satisfied with their living situation (24 per cent) or finances (17 per cent).
   
• Pride in family and health
  The majority of respondents (59 per cent) would like to be able to look back with pride on a happy and stable family life when they are older, while almost half of those surveyed mention staying fit and healthy up to a ripe old age as important to them.
   
• Reluctance to turn to outside help
  According to the survey, many Swiss people are reluctant to make use of outside help when it comes to achieving their life goals.

Summary

Given that many life goals also require a stable financial footing, it is surprising that the Swiss are reluctant to make use of external service providers. This is a clear indication that the potential of financial planning has not yet been exhausted.

The survey results in detail

Security trumps risk: risk appetite remains moderate

Most Swiss people are neither especially risk tolerant nor risk averse, with more than three-quarters of respondents reporting that they take a neutral stance on risk. However, women and older people tend to be less risk tolerant than men and younger age groups. The Swiss appear to be more risk-tolerant where personal development, leisure and hobbies are concerned, but much less so when it comes to finances, family and children.

Almost half of those surveyed consider a financial safety net essential for life-changing decisions. Guarantees and predictability are given preference over higher profit through risk, which underscores the importance of financial stability in pursuing personal goals.

Travel, family and financial security: those are the biggest life goals of the Swiss

Goals related to travel and holidays (31 per cent), family and children (29 per cent), and living situation and home ownership (26 per cent) top the list of reported life goals. Health (25 per cent) and financial security (22 per cent) are also key priorities. Interestingly, the priorities vary considerably between the genders, with women tending to report more goals related to travel, living situation, health and career, and men citing financial security and retirement-related goals more frequently than women.

Inspiration taken from immediate circles

Family and friends are the most important source of inspiration for more than 68 per cent of respondents. Personal experiences (52 per cent), nature and the environment (39 per cent), self-improvement endeavours (37 per cent) and the desire to help others (37 per cent) play a significant role too. The survey also shows that older people are more likely to mention nature and the environment as a source of inspiration.

Priorities such as health (56 per cent) and family (54 per cent) have the biggest influence on decisions concerning the realisation of life goals, whereas career success (8 per cent) and performance (7 per cent) are cited less frequently as driving forces.

Life goals act as a spur: high importance of goal achievement, albeit with mixed satisfaction levels

A considerable proportion of survey respondents see life goals as a major raison d’être, with 41 per cent stating that their life goals reflect their personal values and beliefs. For around one in three Swiss people, life goals offer direction (36 per cent) and motivation (30 per cent) and are key to wellbeing (30 per cent). However, only 22 per cent judge themselves according to whether they reach their goals and as many as 16 per cent strongly disagree with that way of thinking.

When it comes to achieving goals related to family, relationships and social circles, the Swiss are satisfied: Between 40 per cent and 45 per cent of respondents report that they are happy or very happy with the pursuit of these goals. By contrast, the lowest satisfaction levels relate to living situation and finances.

Reflecting on life goals: pride in family and health

When they are older, the majority of respondents (59 per cent) would like to be able to look back especially proudly on having established a happy and stable family life. Almost half of those surveyed mention staying fit and healthy up to a ripe old age as important to them. People also state that they take pride in having overcome challenges, continually furthered themselves or helped other people. Financial security for respondents and their families is another frequently stated goal, but far less pride is attached to inheritance or career success (9 per cent and 19 per cent respectively).

Priorities often change throughout life. More than a third of those surveyed are proud to have already achieved some of their life goals, while previous goals have changed over time for 39 per cent of the Swiss. The main reasons for changes are people reassessing their needs and priorities (43 per cent) and a lack of financial or other resources (39 per cent).

Reluctance when it comes to using outside help in achieving goals

The Swiss exhibit a relatively reluctant attitude to external support in achieving their life goals. Just under a quarter of those surveyed have never made use of outside help. With the exception of health and financial goals, furthermore, many people believe they are unlikely to make use of outside help. The offerings of banks and insurance companies are not deemed helpful when it comes to achieving life goals, although banks are considered helpful by more than half of those surveyed when it comes to financial goals. Just a small proportion of the population (11 per cent) consider insurance to be an integral component of their life planning and as a way to achieve their goals. “These figures highlight clearly that many Swiss people are not yet harnessing the full potential of financial planning. This is precisely where Baloise aims to make an impact. Through our solutions combining insurance and banking services, we offer comprehensive finance and pensions advice that is tailored to our customers. This allows us to provide them with optimum support to improve their financial situation for the long term and achieve their major life goals,” says Clemens Markstein, CEO of Baloise in Switzerland.

About the survey

The representative survey was commissioned by Baloise and carried out by YouGov Switzerland. A total of 1,277 people from German-speaking and western Switzerland and from Ticino were surveyed. The participants were aged between 18 and 79.

Contact
Baloise, Aeschengraben 21, CH-4002 Basel
Website: www.baloise.com
E-Mail: media.relations@baloise.com / investor.relations@baloise.com
Media Relations: Tel: +41 58 285 70 53
Investor Relations: Tel: +41 58 285 81 81

About Baloise

The focus is firmly on the future at Baloise. We aim to make tomorrow more straightforward, safer and more carefree for our customers, and we are taking responsibility for this today. Baloise is more than just a traditional insurance company. Through our smart finance and insurance solutions, we offer a complete service package. Dependable support, reliable cooperation and trust-based relationships are key aspects of our stakeholder interaction. We take care of financial matters so that our customers can concentrate on the important things in their lives and can find inspiration in the everyday. Baloise, a European company founded more than 160 years ago, currently employs 8,000 people at its headquarters in Basel (Switzerland) and across its subsidiaries in Belgium, Germany and Luxembourg. Our services generated a business volume of around CHF 8.6 billion in 2023. Baloise Holding Ltd shares (BALN) are listed on the SIX Swiss Exchange.