How much savings do you have - in cash and in your pension pot?

[suebfg]

I am 40 and whilst we have quite a lot in savings (over £150k and no mortgage), my pension provision is practically nil. I chose to pay off my mortgage instead of paying into a pension as tbh, I don't trust pensions.

But it does worry me that I have little saved for my retirement - mainly the equity in the house I guess.

Just interested in what others have done.

I pay £700 a month into a pension but have no other savings and a mortgage. I think you're in a much better position than me TBH.

Wow. Wow. Wow. We are in our 30s and have a 90k mortgage till we are 65, savings of 2.5k and no pensions. No plans either really. Just see how life pans out!

I guess the interest rates are so low now that it isn't worthwhile overpaying on a mortgage. Mind you, savings interest rates are pitiful too!

Yes YABU

No mortgage, no pension, about £1500 in savings. This thread is going to make me cry, I can tell!

Bloody hell that's a lot of cash!

I'm the opposite to you. We have about 3k in savings, no mortgage yet. We are 31. We both have final salary pensions, DH has 8 years and I have 5, so our pensions are pretty good :)

That is no mortgage as we rent, not because we've been lucky enough to pay it off.

Sorry doobiedoobedoobie

I am 30. I have ZERO in cash, and ZERO in pension... tbh my Ddad has told me he will be leaving a decent chunk and not to worry about it...

Saying that I do recall an alcohol fuelled discussion about retirement and deciding prison for a petty crime would be preferable to a nursing home... - V.drunk!

150k in savings? Gosssh lucky you!!

But I have no pension ...

41 years old, very small pension, £40k mortgage and not a single penny in savings because I've just spent the lot.

Savings - nothing
Pension - nothing

Hate being poor

I have no pension and dh has one. We have a mortgage without about 30k equity and 5k in savings. I feel in a very lucky position and am thankful for it. Think your really panicing about nothing.

babydubs - be very careful
If your dad needs care when he's elderly he may well have to use his savings ear marked for you for his care

Never rely on someone else

I am 26, with a pension with a large private company who pay 8% of my salary in. I don't contribute extra as I think pensions are completely unsafe and a hugely risky gamble nowadays. Df is 30 with no pension.
We have a mortgage with 19 years to go and £10k in savings.
Our pension plan is buy to let properties...so our savings are working towards our first btl.

No pension, although DH has just signed up for his work scheme, so maybe £100 between us! Savings of about £35k, including money to cover my mat leave as I'm self-employed, and the beginnings of a new house fund. I'm 32, DH is 40. He has a loan of about £10k, and while I appreciate the sense of not saving when you've got debt, he's good at paying off what's owed, but not so good at saving, so I save, he repays, and hopefully we'll end up in a better place in a couple of years' time than we would have been if we'd paid the loan off now.

Op

Why can't you use your 150k for your retirement

?

Is this a boasting thread

DH and I are 30. Have £25k in savings and about £70k equity (presuming we get a reasonable value) in our house, no debt apart from mortgage. DH has a similar amount again in his pension pot, mine is virtually nothing. We are just about where we want to be but I am now a SAHM so my pension isn't increasing. I don't worry (at all - I know we are very lucky) about our overall position but I do worry about the inequity of our pension pots and the implications if we were to split.

Agree CaptainSweatPants - DH's Mum has said she'll leave us the house but how does she know she won't have to sell it to fund care in the future?

suebfg have you asked for a state pension forecast? It maybe that you can pay to make up some of the shortfall years, so you can get a full state pension.

Not a boasting thread at all. £150k isn't a lot to fund retirement for two people

No savings, mortgage still got 12 yrs on it.

I have no pension but my DH will get his in 4 yrs.

I'm very lucky that he has a police pension. But he has has paid a lot of his wages into it over the last 26 yrs.

I HATE threads like this. I am poor, I know I am poor, I have been a Carer for 25 years (that's WHY I am poor). I know I shouldn't have clicked on this thread!

Aged 39, 260k mortgage but 120k investments, 1500 cash and both have pensions. I have about 10 years final salary but no longer paying into it (not working at the moment) and DH has about 7 years pension but not paying any at the moment (recently self employed). I am a bit about the mortgage but we have 17 years left of it and at the moment have 150k equity so not as bad as it looks. We won't be inheriting anything so we need to knuckle down.