How much money would you like in your savings account to feel comfortable?

[Blondiebeachbabe]

Just that!

How much do you like?

More than I have.

About £350k ideally
minimal £50k

The cost of replacement boiler or at least three months worth of wages I was always taught by our financial advisor

20k

6 months of basic outgoings. This isn't a huge amount for us because we've no mortgage or car payments. Everything else is in investment accounts rather than savings. That's how much I need to be comfortable.

I'd like 10 million though.

I have for the first time in my 50 years had some savings (£4k). It feels amazing.

lol! As if!

When I first bought my house, I borrowed an extra £5000 for contingencies.
I had it for a good few years.
Sometimes adding more to the pot. Sometimes taking some out.
It was nice to know that there was something set by for emergencies.
A couple of years ago my weirdo family promised my kids an expensive holiday, then promptly fell out with me and withdrew the offer.
I spent the whole lot on the same expensive holiday so that they wouldn't be disappointed.
Since then I've had to use credit whenever I've needed something. Which is fine. We're lucky to have access to credit and we're not in any hardship.
But it certainly felt more comfortable before. And I still resent it a little.

TLDR- £5000

6 months outgoings, plus a bit for luck.

I saw some research recently that asked this exact question of people with tens to hundreds of millions of dollars in assets. On average, they thought that 25% more would be enough for them to feel comfortable.

This tracks for me - I have about eight million in savings and figure an extra two or three would be enough. I know this is completely mad.

2.5 mill

Comfortable? £40,000.
Fully relaxed? £100,000.
Uncomfortable <£10,000.

I have about £50k and I’m happy with that. The plan is to get to £100k over the next couple of years, then we’ll probably increase spending/pay mortgage down faster so save more slowly.

Lend us a tenner.

It totally depends on your stage of life. I’m planning to retire early so anything short of £1m on top of my pension and I’m not comfortable as I still need to work.

If I had £20k I'd feel very comfortable. I have less than a tenth of that and it feels very precarious.

How did you build up such wealth ? If employment what do you ?

You first @Blondiebeachbabe ..........

We decided on six months of both our salaries. Our day-to-day costs are high and without something major, like selling the house, we would struggle to economize that much. We could cut about 15% if we stopped saving, probably more if we stopped contributing to our retirement plans beyond our employers' contributions, but not much, unlike the poster above who can manage on less because her mortgage is paid off.

Just through regular employment, doing coding at big tech companies.

What do you need this in savings for? genuine question.

Pension aside, I would say £10,000. Enough to pay for any fairly major problem in the house and accessible quite quickly. What else do I need a lot of money for? Someone please explain!

To provide me with a regular income so I can retire early

£10k for a rainy day makes me feel safe.
I was given £10k inheritance in 1998. Two years ago I still had £10k after spending and re saving that amount countless times.

Now it is all gone, eek!

More than the 54p I currently have.