How much do you have in savings?

[kiana2015]

As we are practically all anonymous I don't see this should be an issue with bro g honest. I've never really felt the need to save much, lately I'm starting to regret that, luckily I'm still under 30. No idea what a 'reasonable' amount of savings would be considered

We have £20k between us, roughly. Early 30s. We try to save £1000 a month but regularly dip into it for holidays, new phones when needed, car costs. She it fluctuates but remains about £20000 roughly constantly. Really should be more and we are worried about retirement already as retirement fund isn't huge. I think we'll be the type of people who will need to rely on inheritance to survive retirement.

Mid thirties £6k saved atm, much less than I usually like but only went back to work from second Mat leave last March. I'm adding to it a £1k a month while we save to move house again. We do have about £140k equity in our house though which worst case we could draw on.

Single parent

current account balance- 346 (I get paid on Friday 24th)
emergency fund -1500
car fund- 50
savings - 22,100.

i own half of the old family home but am renting at the moment, will be divorced soon so will buy then. I pretend all savings don’t exist as much as I can so imo I have 346 to last two weeks!

£28k net savings in Cash ISAs, we are saving hard to pay off our £100k mortgage in 2yrs when the rate goes from 0.99% to 7%.

I do have another £18k in a Cash ISA earning 5.25% but this is for the 0% credit card debt of the same value that I'm stoozing. I have to be super organised but I love the financial admin.

I aim to have 6 months of wages in an account ( but I’d feel so much better if it was 12 months) as I’m paranoid about being off sick and not being able to pay the bills. We only get 4 weeks full sick pay, and 4 weeks half pay at work.

an issue with bro g

Who is bro g and why would he have an issue with it?

I have £25 in savings.

25k in current account. About 60k in ISA’s. Pensions. We own our home outright (~500k?) and are debt free. Were early/mid forties with 2 DCs

I'm 50 and DH is 40s. Still paying off mortgage. We have £32k joint savings and I have about £3.5k savings (which I want to spend on house repairs). I've just upped my hours at work so want to build our savings.

Early 30s,
About 10k across various accounts etc, but we're completely debt free, own 2 cars outright and our home is mortgage free (about 230k). We have 2 young children so have been hit with maternity leave and childcare cost the past few years so hopefully will build the savings back up quicker as they get older. We'll probably mmove in a few years though and acquire a mortgage.

im 37, dh is 38 we have 4k in savings, a 270k mortgage and are quite a few grand in debt.

If you don't mind me asking, how did you find out on where to make investments? Did you get advice etc

Approx 2.5 million across pensions investments, ISA, premium bonds and easy access accounts.
Mortgage is paid off, the house is worth approximately 450k and we have around £100k in trust for each child.

Less than ten years ago we had about seven grand.

Early 50’s - no mortgage or debts, £13K in savings, £80K in an ISA, £970K in my Pension Pot.

We have 100k. Mostly from inheritance following FIL death a few years ago. We didn't have a huge amount before then!

Early 60s, no mortgage, house worth c£425-450. About £200k across ISAs and other things. I don't have an occupational pension but DH has a military pension rather than a 'pot'; I will inherit two thirds of that to go with my OAP. Not having a mortgage means you can really start to stack it away.

You will get responses from £0 to hundreds of thousands of pounds and it probably won’t help much, everyone’s circumstances are so very different.

Save what you can, add in to a pension as well.

I think relying on inheritance is a risky strategy. Care home fees can consume the lot.

If you're early 30's you have plenty of time to build up a pension. Your employer should be contributing to your work one - see if they will match additional contributions. It's very tax efficient as you pay no tax at all on the money you're paying into a pension- so as much as 40% if you're a higher rate tax payer.

When you're young a pension seems like something so far into the future but once you're over 50 it starts to feel like real money.

I won't be getting any inheritance and am making my own plans. Consider also that 50% of marriages end in divorce and although we all think it won't happen to us the statistics show that it's as likely to as not.

£7.4K so ten months worth of essential income if I need it. It’s basically fuck all but I’m hoping for an inheritance (and before anyone tells me, yes I know you should never rely on a future inheritance, I’m just being honest).

£30k here but same as @Itsallgonesideways - need to pay for building work so most of that will be gone this month 😭

It's interesting that like us some pensioners are still supporting university students. One of the pitfalls of being older parents.

29, about £50k in savings (half of which was inheritance).

I have enough for a 5% deposit on a house. When I pay for that, I'll have no savings at all. They say to aim for 6 months salary, I've never managed that. Right now I have about 4. months salary (which will go on the house).

currently 8p

Between 15-20k but quite up and down as we are using it to pay for house repairs. I want to start properly investing though - looking at my parents stressing about retirement and don't want to feel like that when I'm thinking about retiring/slowing down.

You definitely need to retire in next 5 years! Allowing time for younger child to finish education but honestly, you've the money but good health isn't guaranteed.
I'm coming from this perspective as I follow a FB group about people retiring early and it's my personal aim.
I'm 47 but in some ways live a semi retired life lol. Downgraded job, work 30 hours, mortgage paid off and have some investment.