To be shocked that 50k in savings is seen as ‘ not much in savings’ - maybe on mumsnet - but think about how people are struggling to put food on the table.

Oh it was that thread. Yes I’d probably agree that £50k is not loads in the sense that if someone told me they were giving £20k away to adult children, I’d assume they had a bigger pot to give from. Not because of the actual amounts, but because 40% of your savings is a lot to give away.

You assume that they never had any need to touch their savings over their life time.

Op this is the internet, not all on here are as they seem!!! Do not believe every post where op says they earn 150k etc. re: your post on 50k savings, there will always be people on here who can’t wait to brag on how much they have compared to the op, and those who are lying anyway. I’ve learned to take a lot of mumsnet posts and comments with a pinch of salt. Ignore OP

It depends on that person’s circumstances. I have a little more than that in savings and pensions, but I’m single, 50 and privately rent (for now). So I could understand if I were to post about it that some people would say £50k isn’t much, because in my circumstances it isn’t.

I think posters were more surprised you were giving 20k away to dc which imo is absolutely fine but some obviously though you should keep it for yourself!

My husband and I are in our 50s and don’t have a penny in savings! We do have a decent ish pension when we retire and we will be mortgage free by then so may sell and downsize to free up money. On the outside looking in we have a decent wage between us and take nice holidays so I think people would be surprised we have no savings and if boiler broke it would be a credit card job to get it fixed. We have 2 children at university in the next few years so I don’t see it getting any better. It doesn’t worry me though - we get by fine without savings. When I read on here of those with their hundreds of thousands in savings I often imagine those people on a whole different standard of living to me and that’s just life.

But 50k for a couple in their 60s is only 25k each, so represents about 625£ a year saved over the last 40 years of working life. Or £312 each a year.
I can’t be alone thinking this is a very small amount for the stage in life you are at.
£50k would buy a new roof, a new car,, a new boiler a rewire of the house and a takeaway
It really isn’t much for relying on in retirement.

I know the child care years are expensive, but surely you managed to save more than £300 each a year

People being told to not feel a certain way because other people have it worse only breeds resentment. Many of us who are on these very low incomes with little to no savings are on benefits; we don't need to deal with any more resentment from people.

You are right. Tax bill savings, mortgage overpayments and general savings are all a very movable feast for me as a self employed artist. Need to VAT register in the next few months, will have to make a huge effort to ring fence VAT money 😬

£50k is a lot in savings. Anyone who says otherwise is bragging. An emergency fund is generally seen as 6 months outgoings so £50k presumably is way over that. Lots don’t have that even so yes it is insensitive and providing you have a pension and a home plus your savings you are doing well.

Exactly. A lot of folk dont have a penny in savings and are in debt as well.

I guess it depends what your thread was. It’s not a lot if you were posting that you were buying a house that needs absolutely shedloads of work, for example, because you’d run through that fairly quickly.

Mumsnet is full of Walter Mitty characters and always has been.

I don't automatically believe anything I read on the internet anyway, but it's so much easier for people to lie on a forum that allows name changing.

I wouldn't give it another thought OP.

I understand what you’re saying but I would also say if you’re the kind of person who for whatever reason is fortunate to have 50k in savings, you’re also going to be the kind of person that is going to have to spend that money sharpish if needs be. My bills before anyone has eaten or gone anywhere are 2.5k a month so 50k wouldn’t actually last me that long if there was no money coming in. And I imagine a lot of people would be in a similar situation to me, with or without 50k savings.

So yes it’s better to have 50k in the bank than not but it’s not actually that much of a buffer if something terrible happens. And that’s shit for everyone really, how hard it is to be financially secure and how much money you’d really need to have options and choices available to you.

A lot of posters on here don't seem to understand having literally nothing.

"Just use some savings"
"Just use your credit card"
"Just take in a bit of ironing"

It's a different world sometimes.

If I say I have £20 left that means I literally have £20. No option for credit and no time or money to set up a small business and advertise either.

I do think a lot of it is people lying though. Nobody is that out of touch to think £50k isn't much..... surely.

Depends on so anything. For a 21 year old it’s massive. For a 60 year old less so.

For self employed people there can be a very grey line between pension savings and general savings….
For employed people, you are right.

I think Mumsnet is definitely out of touch on this kind of thing, but I don't think it's deliberately insensitive or offensive. I see posts like that and roll my eyes and think god, I'd love to swap and have your struggles 🤣 but it's all relative.

We're living hand to mouth - no savings, no pension, renting - but we did a shop this week, so there will be people thinking "you think you're hand to mouth? I can't even do a shop?". Equally there will be people on £20k and £50k and £100k, all with various amounts in their savings, thinking they're living hand to mouth too - it's all relative, I wouldn't overthink what people are saying.

It's all relative, isn't? My boss is on £500k pa, I try not to think about it.

MN is another world when it comes to finances. I usually avoid any finances themed thread as it annoys me so much.

What response do you want from this thread OP? Should everyone with more savings/earns a bigger wage than you, pretend they don't because others in the country or on MN don't earn the same?

Surely its vastly different depending on where people live, what they earn, family dynamics- 6 or no children, single, widowed etc etc? Whilst I wouldn't condone people being blatantly rude, some people might be oblivious that £50,000 is a massive amount for many people. I've learnt many things on MN, including the poverty some people have. I'm not saying you OP, I mean people that literally don't have 2p till their next payday and no food in the cupboard.

Someone will be along soon to tell you to read the room- shut up about your £50k - when others are using food banks.

That's the way MN works. Different people have different opinions on all sorts.