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.

Well if you have accumulated decent savings, paid off your mortgage and 'save hard' see a financial advisor to see what else to do now.

Sorry I meant its something that worries my parents now so want to ease the stress of it before they are 70.

You should see a financial adviser.
It probably makes sense to pay more into a pension now, if you have a taxable income, because you'll get tax relief on pension contributions. So if you're a higher rate tax payer, for every 60p you're putting into savings now, you could have had a £1 going into your pension.

Just be careful peteypirahna my grandparents came to the end of their savings and needed to apply for local authority funding. They looked at all of their bank accounts for the last 15 years since they moved house. The advisor admitted that it would be fine if they had pissed it all away on cars and cruises but if they had given it all to family the family would have to petit back. Luckily they had pissed it all away on Whiskey and holidays

Pay it not petit

I am 27 and have approx £10,000 in my pension. £0.90p in savings

I'd start investing op.
Honestly, does no one else watch Homes under the hammer at 6am like me??

Mama my parents have a 25k a year pension pot coming as its public sector. There generation was extremely lucky as neither of them even went to uni.

25k a year won't pay for their care. My grandparents care costs 40 k a year and will only go up.

invest in africa. that's where the money will be in coming years. The IT city they're building in Kenya (Konza), the discovery of oil and natural gas, etc.

High-end rental prices in Nairobi, for example, have increased another 18% (highest worldwide)

Businesses in the fast moving consumer goods and oil sectors are headed to Africa. That's where to put your money if you want to see a bloody amazing return in 20 years!

I'm 44 and have been lucky to have paid in my previous employers final salary pension from when I was 19 years old and expect a pension from this of around £16k year (retail price index linked) + a government pension.

dh, to my constant frustration, has a very small pension -

40k a year

Average care home costs 36,000 per year.

Yeah but mama people of their generation still have really expensive houses to sell that they bought for about 5k in the old days. Its a bit crazy really compared to what younger generations have.

No savings, no mortgage (renting), no pension...

My DH owns a small rental property we plan to retire to (gifted to him by his father), but that's it.

We've both recently come out of messy and expensive separations/divorce, so pretty much starting from scratch at 40 and 44!

Friend is currently looking at care homes in London, £1,200 per week.

About 9k in savings, 380k in equity, honestly not sure about pensions!

zero in savings now, company pension and a 135k mortgage.

My pension = my DCs.

It's why I'm so nice to them now.

No savings
35k equity
Final salary pension for me and reasonable pensions x 2 for DH (one frozen from prev employer plus current nhs). DH currently overpaying on pension contributions

DP and i are 39

we have;

savings: 0

pension: 0

And are mortgaged til we are 68

I'm not telling you what I have - but with inflation high (A LOT higher than they would have you believe unless you only buy ipads and flatscreen TVs) your cash will be worth nothing by retirement. You really do need to start a pension.

savings rates are negligible (the government refuses to notice that funding for lending isn't working, and savers are dirt compared to borrowers) so you need to find some way of inflation proofing the cash.

when you do, let me know. :-)

£0 savings
£0 equity, renting off my parents, hoping to buy in to the house in a few years.
I have a public sector final salary pension that I have paid into since last year.
But I have no idea what a final salary pension is
If anyone wants to explain to me, TIA only in early twenties so not sure if I have to worry but I do!
Scares me to have no savings but I'm trying!

I vote for commiting a serious crime as a OAP.

I hate these kind of threads. I think it's very rude and in bad taste. There are lots if people who have nothing and you come on here boasting of only having £ 150.000 ! Shame on you for bragging.