What do you have in savings if you’re in your forties?

[Wjjayso]

Just that really. I have 32k. I have tried to overpay mortgage though so a lot of money goes into that rather than savings. I feel a bit behind and wonder what changes I should try and make coming into the new year!

£0 but I have a relatively large amount of DB pension and a BTL. The two together are about £750k in cash terms, so it’s all relative isn’t it.

Thank you. I can’t say I feel particularly inspirational, in fact I feel I’ve done many things wrong career/money wise (hindsight is a wonderful thing!)

I’m a bit averse to spending, I don’t go out shopping often which helps I guess, I tend to just buy essentials like food, and gadgets (love my tech) and I travel a lot, usually 5 countries a year across holidays and long weekends. Not luxury, just look for bargains. I don’t feel I deprive myself of anything.

I also live in the north so probably slightly lower cost of living, and lower housing costs than a city or the south.

This. A quick look online and OP would know she is very above a average.

High outgoings due to childcare (twins) and both DH and I having been at risk of redundancy this year, and not feeling out of the woods just yet. So we’re prioritising liquid savings right now. We did put £20k on the mortgage when we last fixed earlier this year.

44 - nothing at all

Whats your interest rate??? Unless its like 6% or so i dont get why you would...

If you are a higher earner honestly you should be maxing out S&S ISAs and pensions rather than overpaying your mortgage.

The government will be coming after both. S&S ISA is one of the best financial products available globally. It's totally tax free...
Pensions we already know... the crunch has started....
So i'd get money in them now.

Fwiw I am the same age and have significantly more in savings and prob pension.
People have different drivers
I have no inheritance coming to save me and grew up in a financially volatile environment which made me prioritise financial security.

My salary was crap when i started work so i learned to love bargains... as I became a high earner i saved and invested the delta for a long time.

Right now I save sweet FA as childcare is 5k net per month 😵‍💫

Lots of our friends spend their salaries and put the minimum in saving and pensions... it will work fine for them as they'll get a cool million or 3 in the next 10-20 years.

I really spending a lot as I want to travel a lot more and cannot afford it.

I have savings, over 100k, which I should use to pay off some of my 400k mortgage. But I really scared to, because I’m a single mum and no maintenance from ex and no family. I stupidly keep it in normal bank accounts whilst paying interest on my massive mortgage. But I’m just so anxious that I will lose my job or get sick and we won’t have enough to live on.
I’ve had no money at all in the past, with no work, and it’s left a real fear, even though I know I am really lucky to have been able to make and save this money.

If you do nothing else please max out your cash ISA allowance and then put the rest of your savings in an instant/easy access savings account. Moneysavingexpert has very clear and helpful guides to savings accounts with good interest rates. You wouldn't be restricted your access to it but you would at least be getting some interest!

And consider overpay your mortgage by a small amount each month rather than in one big chunk, if you'd feel less anxious doing it that way.

PS do you have income protection insurance?

2m between us, so for just me it would be 1m

Plus a paid off house of about 950k

I have just turned 50

DH and I are 42 and 40 and we are in a fortunate financial position. DH is a high earner, I earn less. We have two children but youngest is now in school so childcare costs are limited to wraparound care and holiday clubs.

We are fortunate in that we've been able to buy a house in an expensive area with a small mortgage and a large amount of equity; our LTV is about 20%. We borrowed more than we needed for the purchase so we can do renovations. Our combined savings are about £150k and we intend to spend almost all of it on renovations, which should increase the value of the house as well. We'll add to the savings though - DH tends to get a bonus each year and we can also save a bit each month - as we'd like to have around £20k left over "just in case".

DH has a good pension pot, mine isn't great, but I would only worry about that if we got divorced.

For all of you talking about equity that’s not really savings is it, as you need somewhere to live?

£3.18

50k

I’ve randomly got 35k - I need to add to it but DH has not worked for a year and no sign of him starting again (I’m putting pressure on him to take anything to be honest as I’m not living in poverty when earning a good salary).

Nothing. No savings, no pension, about 2k debt.

To be fair 70% of the questions people ask on MN could be answered by “a quick look online”

This post is goady and distasteful.
32K is a great amount of savings…….obviously 🙄

I can’t contemplate why people ask these questions, it’s so necessary & nearly always braggy.

43 and have £15,000 saved for our children (split between 2) and £35,000 of ours

Come on, it’s hardly unrealistic that someone is interested in finding out how much money some people at their own stage of life as them have in savings.

Nothing in my 40s. Still nothing in my 60s.
So don't worry, OP. You'll never be as 'behind' as me.

A bragging post.