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.

[Ginandbitterlemons]

I posted about our savings of £50 k for a specific reason , and was asking advice .

A number of mums netters appeared to mention that that was not a great deal of money.

Now- its not a question of me being offended by such responses- but it has hugely struck home to me just how much society is divided.

There are people who consider this hardly anything - yet I am aware that so many sections of society would be glad to have this , or any, savings at all .

Am not sad for me that I have this ‘ insignificant ‘ amount of savings- but I am aghast that some people do not seem aware that its something than actually may be out of reach for many ,and how such comments may sound to those folk .

I was aware that mumsnet can be elitist- but for goodness sake- there are people really struggling out there.

I am not expressing this very well , but how do people think it sounds to others who are living day to day hand to mouth?
Its been really thought provoking- and made me both aware of what I do have , what my values are , and to up my donations to the local food bank.

Hope I don’t get slated for this - its just really made me think about the wealth divide .

[Bangs head against wall]

I didnt say they were your friends, because you didn't specify that by "anyone" you actually meant "my five closest friends."

You didn't say "none of the friends I know well enough to talk to about finances and somehow know they are definitely telling the truth have large amounts in savings"
You said "I don't know anyone."

Which is obviously completely different.

Basing what you think of as "normal" from a tiny sample of people who are in very similar circumstances to you is obviously going to get different results than a more general sample of people of different ages, jobs, social backgrounds, etc.

It’s a different world on here

I think there’s a statistic around that most people in the UK wouldn't be able to survive more than three months if they were made redundant tomorrow, so £50k in that context isn’t a huge amount. For those with a large mortgage, say £3500 pm, it stands to reason that having £50k+ would be less of a cushion than it would for people paying rent/mortgage around £500 to £700 pm…

This is the internet OP. Why anybody on MN would feel they have a right to police the economic status of other users, or the perspectives that arise from the fact people are in diverse economic situations, is baffling. Of course there will be mega-wealthy on here. Of course there will be those living hand to mouth - and everything and everyone inbetween. So yes, £50k will be nothing to some people, but a fortune to others. I don't see the point of this thread.

Also, if OP is so horrified that some people think £50k savings is nothing - now claiming to be offended on behalf of those who have no savings or whatever - then I'm afraid she brought it on herself by mentioning specific amounts in the first place. Could this not be seen as crass? If you're that bothered about other people's financial insecurities, why not just say, "I gave my daughter some money and now I'm wondering whether to do the same for my son, or wait until he buys a house?"

Some people really have zero clue how little money many people live on as their expectations are so vastly different.

That was me and I apologise. My final figures are 45k pa index linked. (Before state pension lol). I wasn’t meaning to upset anyone. I was just wondering what people in similar situations do to make life ok. Financial security is the only part of life that i have succeeded in through doing very difficult stressful jobs all my life. Wanted some ideas on how to make life better. Some people came back with lovely suggestions. I’m guessing they weren’t you! Best wishes.

It depends on so much and I haven’t seen your other post.

People in their early/late 50’s have a few 100Ks in their retirement savings so 50 isn’t much for them but for a young 20 coming in with some money, it is a lot. Again, it all depends your stage of life and what you need/want to do with it.

What were the suggestions you retained? 👏🏼

You'll find out just how much it is when you come to pay for your care home nd they take the bulk of it.

I hate disingenuous misrepresentations. They’re really irritating.

There were lots of suggestions that i considered. Tbh i now spend a lot of my time playing golf. I took it up recently and love it. I can take up my clubs and head around a lovely course any time i want. I also run a lot and swim a lot in the sea. @venusandmars and @ThisTicklishFatball were some of the outstanding lovely posters. I go to the u3a for lots of activities. I suffer badly from extreme anxiety that i have to fight daily. It really does bring home to me that money isn’t everything. I am financially secure and that helps me. I really didn’t mean to upset anyone on the other thread though.

Slightly disingenuous OP as people were saying that £50k in savings was not much in the context of you giving away £20k of it to your adult children when you and DH are late 50’s/early 60’s and on the cusp of retirement.

I know many wealthy people. They exist. Why do people assume bragging? And a bizarre comment of how they can find time to post during the day if they earn so much!

Many people in Senior responsible high paying jobs are in control of their hours, and may work irregular hours so are free to post when they want.

I find it an odd concept that apparently so many posters are bragging to randoms about having £50k saved. What’s the reward?!

It is possible people are in very precarious financial positions. A lot of people are. Through no fault of their own. And they can’t understand that many other people aren’t.

Sorry that didn’t answer your question.

There is a lack of understanding across the board of what people’s lives are like on different incomes. But those who are ‘poor’ are automatically seen to have the moral high ground.

All this talk of ‘sensitivity’. If somebody posts about being in a terrible financial situation, then it is beyond insensitive for somebody to respond with their high salary and how good their life is. However, on an objective thread about savings, I fail to see how somebody factually stating how much savings they have is insensitive, and that they should be reading the room. I find that a bit ridiculous actually.

And I am not hugely wealthy.

£50K in cash?. Probably drug dealers or fantasists.

Reminds me of those Z list celebrities say they've made over £1 million by being on OnlyFannies. Yeah right!

It is definitely true that some of the attitudes here are crazy. I will not say which ones.

My kids are adults. But I see posts from couples in the south east struggling with mortgages and nursery fees on a joint income of £100k. I can imagine the stress they face. But the vitriol they get from some is OTT.

And your post about having £50k saved could be seen as insensitive too surely?? If not, why not?

It wasn’t my post. Hope this helps. But personally i see nothing whatsoever objectionable or odd about a couple in their 50/60s having 50k in savings. And my mind doesn’t go near onlyfans….

oh apologies, my mistake.

It's a lot of money. It's also all about age.

Mumsnetters with young kids will likely have zero savings, a huge mortgage, crippling childcare costs and not a pot to p* in.

Mumsnetters whose kids are older will have had so many more years to pay down the mortgage, save once the huge childcare bills reduce, and increase their salaries.

Mumsnetters whose kids have left home might have paid off the mortgage, stopped paying uni costs, and be comparatively minted.

Eh? Are you talking about actual, physical cash or ‘cash’ in terms of money they can access in a bank account?
I could withdraw £50k tomorrow but it’s nothing to do with drugs. Just hard earned savings.

As we are 70, having some savings, a home and a pension after 48 years of working should not make us worry... you wouldn't think. But given the current Government's enthusiasm for redistributing everything over the bare minimum, I'd bet we are not alone in fearing the upcoming budget. It brings home just how precarious the economy is. Across the western world, the UK is not even the worst affected country.