Her first 100k

[Mon1986]

Anyone else trying to achieve this! Not doing bad so far; though fear I’m not allocating it correctly so all advice gratefully received;
I’m 35 FYI, no DC but we are trying.

14k in Stocks and Shares ISA Vanguard Lifestrategy
60k in cash ISAs Easy access though probs should change
20k though madly fluctuating in Crypto

Pension is about 60k though I’ve just started a job with a Defined Benefit pension scheme

I’m not really counting the Crypto as part of the money as so high risk so about 74k total saved 🙂

Been very fortunate to be able to save so much as I have a good job now but in my twenties we both were seriously strapped for cash! It’s really been the last 5 years that I’ve been able to accumulate

I'm at the early stages. Just coming out of a renovation and so finally able to save.

What are your goals? Retiring early?

Ah cool! Yeah kind of retiring early but I’d probably still work, just in something I love but low paid like animal rescue with a cafe job on the side, and leaving something for future DC and my brother who has struggled financially; we help him out where we can currently but I do worry about his lack of pension

Something that ‘just pays the bills’ and is a passion project if you know what I mean. What’s your goal?

Do you own your house or have any debt?

I’m a similar age but the below is shared with my DH:
350k equity in house
40k in S&S ISAs
75k in PBS (mostly earmarked for Reno work)
£40k other stock
Few grand cash, tend not to worry about cash while we have PBs
£130k ish in each pension

So £75-80k each plus equity and pensions right now. Haven’t really considered a specific goal - what are you aiming for?

I’m currently very into thinking about all this too - DH and I are a couple of years older than you with two young kids but very concerned about the imbalance of our assets after years of pouring money into our house. We currently have around £400k in equity but house prices could crash and so it doesn’t mean a lot! We only just started a S&S ISA saving £1k/month (it’s at £2k currently ) but hoping to build that up a lot in 2022. We also have c. £50k each in pensions but have recently increased our contributions so that should rise faster now too. Will watch this thread with interest - I love reading about women taking care of their financial futures!

You’ve done really well but I’d be uncomfortable with your asset allocation. It feels like your you’ve got a big chunk of cash that won’t be doing much for you and then a very high risk portion in crypto.

The earlier money goes into your pension the harder it works for you. I would put more into your pension.

But what do I know? I have nowhere near any of that at the wrong end of my working life (passion job….)

Its a really important discussion and I hate it when talk of women building financial security or success is frowned upon on mumsnet.

I’ve not heard this before but it’s a great goal. I’m 30 and hoping to spend the next few years really saving hard. The below is shared with DH:

Equity c.£100k
Stocks and shares ISA c. £20k
Premium bonds - £11k
Joint account: £3k
My pension: c.£50k / DH defined benefit
Aiming to max out the ISA each year for the next few years pre kids!

What is this?

I feel like I need to know 😁.

@Bushkin

Its a really important discussion and I hate it when talk of women building financial security or success is frowned upon on mumsnet.

Hear hear!

Time that more women started approaching these issues the way that men do.

There was a thread on here the other day from a woman asking how you meet high earning men….the suggestion that the answer might be increasing her own earnings didn’t seem to register. I could have wept reading that thread.

No brainier

Pension
At 35 it should ideally be more than that!

You should put your cash ISAs into Stocks & Shares ISAs unless you are saving up for something that you need cash for imminently, like a house deposit.

Do you own your home? It will be difficult to return early if you are still paying a mortgage or renting.

I have about £250k of equity in our house. It is our dream home, so no more expensive house moves and once this mortgage is paid off that is it.

I'm 32, it's taken me most of my 20's to not be broke and to get the house. My big focus now is my pension which only has about £5k in it. Only really started looking at this in the last month or so.

I'm retraining to do a job I'm passionate about and that has flexibility, and I'm hoping it's something I can tick and along and enjoy.

As PP would shift more into long term S&S can be simple trackers and get your pension up

If you are under 40 look at getting a LISA as the government add £1k to it if you invest £4k

Be interested to know what earning people have to be able to save like this.

@TrufflesAndToast great to see this thread but don't mock women who ask about meeting high value men. To succeed in building 100k in savings you pretty much have to have a partner, almost impossible to do as a single parent or singleton.

It's easy to forget your privilege but if you have an earning partner then saving is a million times easier.

Professional
£68k
Wealthy ex husband with generous maintenance
Minimal childcare expenses
Very good house purchase 10 years ago… £550k equity

£600 a month pension
£300 a month saving for each child
And then the odd lump sum in to my isa

You’ve done really well but I’d be uncomfortable with your asset allocation. It feels like your you’ve got a big chunk of cash that won’t be doing much for you and then a very high risk portion in crypto.
I agree with this. I don’t know the lifestrategy fund but it sounds conservative, and all that cash is going backwards on you. Defined benefit pension however would be good. Why don’t you have most of it in a standard market tracking set up? (Caveat: I know very little about isa options as not invested in the uk) At 35 your pension investments should be set at growth, and your isas also weighed that way. Our accessible cash all sits against our mortgage so at least earns our home loan rate.

Also re goals I look at it as what will we need to retire? Are there calculators for the uk on this? There are for australia, you input your age, the % you are contributing to super, any extra you plan to contribute , planned retirement age, married/ single, m/f, and whether you aim for a basic/standard/comfortable retirement. It’s a very simple calculator but very useful and does take state pension qualifying points into account.

Op

At your age… you pension is extremely low

Do you own your own house?

Save into pension. Most tax efficient way to save for retirement.

You have too much sitting in cash doing nothing for you. You’re young so can afford to take more risk and invest that money.

Oh and if you plan to have DC in the future go back to work to protect your pension and earning potential. (I mean after mat leave!)

That is one factor of the gender savings gap you do have control over!

Well done OP!

So awesome to see inspirational stuff like this on here. You've done amazingly well.

@BeautifulBirds I’m 30 and salary jumps have been:

24 - 26: £22k
26: £34k
27-28: £48k
28 to now: £68k

OH has been steadily on £35k, then £45k about 3 years ago