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.

50k is a lot of money for most people. Depends why they have it or what it’s for though. 10 years of saving for a house deposit it’s probably not great. Having 50k just for emergencies is amazing!

That is a huge amount of money. The people implying it’s not are either stupid or they are bragging.

I see posts like that all the time, for instance, as if a £300/400 coat is not expensive, sort of humble bragging.

It's a life changing amount for many.

50k is healthy enough to live for a small family for a year.
Objectively, there would be a number of people who have more than 50k in savings, and there would be a much larger number of people who has less than 1k. It's not offensive or insensitive to express views coking from either group. I personally can't stand fake "we feel fortunate and grateful to have x" whatever that x is.

The OP has completely missed the context of that thread/those comments. It was about a couple (nearing retirement I think) who wanted to give £10k each to their 2 children. This would leave them with 30k savings for their retirement before pension. 50k really is not so large that giving away almost half of it doesn't risk negative consequences

I think it depends what people mean by savings. To have sitting in your fixed rate isa, yes it’s loads!

However if that is all the “savings” you have across your savings account, your pension and home equity then it’s not very much.

Unless you are very young…in which case it’s loads again!

My DH's elderly aunt in very well off. She is a self made millionaire, with various stocks, shares, ISAs, full amount of Premium Bonds, a house worth several million. It's very much humbling knowing how hard she worked, and became wealthy through good business acumen, selling their garage in the 80s for a good profit, not spending any of that etc..

I think my parents are quite comfortable too,with my DF having a final salary pension, assets, and savings, Premium Bonds etc. I have tried my best to emulate their hard work and abilities to earn but unfortunately I don't possess the skills or business knowledge/brains to be as driven or successful. Life has been harder health-wise too which hasn't helped. (Concussions, and a movement disorder).

I'm not rich at all, very much the opposite in fact - so £50k sounds a huge amount! 😬😳🤔

How do they do that? If in their opinion £50k is not a lot and they have more than that's their opinion - it isn't fact it's just opinion. Should they not respond? It's hard isn't it as you run the risk of policing threads. It's a bit like the opposite ones where people who can't afford a holiday ask how can anyone afford a holiday - because we all have different incomes and priorities.

So judging by MN people should be able to afford at any given time a new roof, or a new car, or a new boiler or three, or a round the world cruise, or several Rolex watches. I’m not saying they want these things but they should be able to afford to buy one of them at any random time? And on top of that don't forget to replenish those savings back to the original amount.

Meanwhile back in the real world most of us are just trying to pay the bills.

Are people relying on cash savings in retirement though? People have pensions.

I don't think of it as being a great deal of money. Not because I have more, in fact I'm on UC so have bugger all. But in this day and age that amount realistically wouldn't last that long, especially in London. I'd be very happy to have it though.

Generally TAAT don’t work because there’s no context.

The thing is, you will never know if anyone is telling the truth, which is why these kinds of threads are pointless. If I said, I have £500,000 in savings, am I telling the truth? If I am, or if I am a total liar, and actually live in a tiny flat with 3 children and on UC, is mainly irrelevant, as nobody can verify either way.

I don’t even have a fiver in savings, no doubt there will be some rich people on here but take mumsnet uber rich with a pinch of salt, there’s been some bs in the past with people pretending to be rich, a poster years ago showed her very fancy rich person bedroom in some show me your bedroom thread or something, it turned out to be a hotel room picture from Google 😂

I agree!

We now have plenty of money but we're old, downsized, retired. But when we were raising the children managed to save £40k for a house move. Then we were broke again.

It depends on your age in our case.

I’d take their bragging with a pinch of salt. I find it hard to believe wealthy high fliers even bother with MN at the times of day a lot of them post.

It’s probably not,much if you earn six or seven figure salaries, for many of us it’s a good amount and for many others it’s beyond there wildest dreams

What im trying to explain that you dont have to be THAT rich before feeling like 50k isn't a lot and feeling a bit stuck in terms of being able to improve life or move up the housing ladder in certain parts of the country where youre needing to save more like 200k+ to feel comfortable and not just staying stagnant.

Ultimately you have to ‘stay stagnant’ to have high savings. Your outgoings have to be less than the money coming in. Having to keep ‘improving your life’ is why there are apparently skint people on mumsnet with high incomes.

OP there is a segment of mumsnet who just love to put others down. Ultimately being well off isn’t a level of income, an amount of wealth, a big house it’s feeling that you personally have enough. And that’s all that matters in the end.

True, but it's crazy how money "value" changes so quickly. The same house would have gone up and down massively in the 90s, late noughties and so on. My food shop is nearly double in price compared to when I had my first kid. Petrol, etc. It used to be normal to expect to have a house and that one partner could stay home to parent young kids, or to eat out weekly. Also, for people talking about pensions etc, a lot of people worry about losing the state pension they've paid for, so that can affect their views on savings.

I’ve worked with high net and ultra high net individuals- some have obscene amounts of investments- I’d say this is a high amount of cash savings.

But I highly suspect there’s quite a few people on Mumsnet writing about their fantasy life.

Many many people don't have a pension pot! They are replying on whatever the state pension has in store for them!

It's your money , if you feel it's a lot of money , then it is .
Likewise if someone is over the moon with £1000 , £5,000 or whatever amount then it is for them .
Some people are just not very nice .

It's nuts. We are comfortable but I work in the NHS and see people whi regularly can't afford to eat, Normal people doing their best to hold it all together. It's so sad.
My BiL is rich (properly rich) and barely believes that level of society exists and if it does, it must be their own fault because they must just be pissing all their money away.