If you are mid to late30s or early 40s, how much money do you have in the savings?

[Homeiswherethedogsare]

Sorry not interested to hear from those who have inherited big family wealth and huge deposits for their homes as of course that makes life much easier.
But if you have a “normal” job and maybe DC, interested to hear what is your financial situation? How much money do you have saved and what about pensions/mortgage etc

I’ll start: DH and I are late 30s, we live in London and have £8K in savings only. This is mainly because we have bought our first home last year and have spent almost all our savings for the deposit and solicitor, stamp duty etc. Have a huge mortgage (£470K) although a small and modest home because it’s London. 1 DC in school, still pay for a bit of wrap around care but nothing compared to the full time nursery bill we had for years.
We didn’t have any family help as we don’t come from wealth.
Own an old car outright.
Both have private pensions with work but only started these 8 years ago or so.

About £1.50 cos all mine went into my tiny 1 bed flat that I still struggle to afford on my own. All I can do is 'get by' and, with fuel going up again, walk everywhere. It's bloody depressing

£1000. In my 40s, no career, full time carer. There’s not much point saving when on UC as it gets taken off you when you save to a certain amount anyway

We tie most of ours up in retirement accounts, so have more than £500k in those, but in our minds they are untouchable so it doesn't feel like savings. My DH invested in the stock market when younger so has a bunch of stocks/shares, by pure luck bought some Nvidea when it was cheap, and has a lot of money there now, but obviously if we sell it, we get taxed, and if the value drops we lose it, so we're for want of a better term just sitting on it. We have maybe $100k in cash sitting in savings accounts, keep our regular cash balances low as they don't earn any interest, and have a sizable mortgage as we live centrally, but if we have a couple of high paying years could and would pay that off. We have two young children, so lots of childcare costs, and two cars, one is 20 years old, and the other new as the last one had 100k miles and started costing a lot to maintain. We don't live lavish lifestyles, and try to save/invest, though with young children and family overseas that is hard.

Editing to add we both work full time, very intense jobs which has led to the above, and fully recognise that we are incredibly fortunate.

£12k savings, no mortgage on residential but mortgage on two BTL properties. The income from these services the debt. I work ft, DH pt.

Exactly. I am also an unpaid carer to two children with additional needs. No point saving at all.

No pension, no savings, a mortgage, and £13k in debt, but it was £30k+ in debt 3 years ago.

Household Income just gone up to £97k, going to opt in for our pensions this year, but all of our money currently going on fertility IUI (and paying off debt) as we’re same sex couple.

Probably around £100k, we're mid 50's, and have been putting money into our workplace pensions which are both looking good at this point. We have a couple of grand each in premium bonds, and the rest is in various accounts.

Early 40's. I'm a teacher and DH earns similar. We have 2 primary aged kids. Just paid off a 300k mortgage and have about 10k in combined savings. Work place pension each plus I have a small private one. Own a mid range car outright. We go on a foreign holiday a year plus visit family in Ireland and a camping holiday in UK.
No family help, inheritance or even child care.

DH and I both early 40’s have about 40k in savings account but we could lay our hands on another 10k if needed. Both have good NHS pensions and we’re lucky to have a small mortgage under 60k (4 bed detached house in a good area- north England estimated value of around £400k) we don’t have any debts, have 2 teenagers, 1 abroad holiday a year and 1 staycation. We don’t consider ourselves to be well off we live within our means, and make saving where we can.

No family wealth here. Late 30s. We have a largish mortgage of £280k, with around £200k equity. £40k savings. Pensions are ok but not brilliant, about £120k total between me and DH.

Married with one child. I personally have 50k in savings, I work four days a week and run my own business also. So working pretty much non stop. I will be spending on another car soon (second hand) and some house updates.

Oi lend us a tenner

Just your average MN user on a mid-range salary with £1,000,000 in savings x

OP I'm not going to post my level of savings on here because I don't actually think thats helpful to you and I want to provide you with some context to offset the usual crap that's appeared on this thread with people immediately weighing in claiming savings amounts in 6 figures.

Please know, that is not the norm in the UK.

There are plenty of stats that indicate that 1 in 3 people in the UK have less than £1000 in savings, and the average savings figures (which are something along the lines of £20k) are heavily skewed by a tiny minority who have huge savings.

So take with a pinch of salt all the people claiming huge savings pots as its a fact those people are in a very small minority.

Most people, unless they are saving very specifically for a house deposit, can't afford to maintain huge pots of savings because they need most of their money to actually pay their rent/mortgage, bills, and living costs.

For years my partner and I, with young kids, could only afford to save modest amounts eg managing to keep a pot of 2-5k, the sort of amount to cover emergencies like the boiler breaking or whatever. And honestly we felt we were doing quite well managing to have a little nest egg of that size while also having to shell out on stuff like childcare costs.

Yes now that kids are older and we've managed to increase our income we are managing to save decent amounts but we are well aware we're in a much more comfortable position than most.

Don't beat yourself up if you don't have 600k in a savings account at the age of 37 or whatever.

About £35k. Our mortgage is around £500 per month. I work full time, partner part time. Kids are early 20’s now. We’ve been putting a few hundred pounds in savings each month and it’s built up over time.

I’m 45, single mum of a 14 and 15 year old. No savings at all, debt on credit cards. I have a £185,000 mortgage but equity is £315,000. I have a good police pension which I will probably take at 55 and pay off my mortgage with the lump sum part. The kids dad does have about £100k tied up in the house so I will need to pay him too. Will get another job part time at 55 or downsize when kids leave home and are settled. Hopefully I will one day have more disposable cash, right now it’s very hard!

In fairness, your situation is probably more common than most of the posts upthread

Maybe could scrap about £1000 but I’ve recently spent some on deposit for new kitchen. I have two children in nursery so hope to save more when they’re in school.
It’s a bit depressing reading about those with £100k+ Don’t think I’ll ever have that unless through inheritance.

I’m 43, DH nearly 50. We have a DS in primary school. Between us we have around 25k in savings. We are mortgage free in a 2 bed flat, worth around 170k. It’s a bit small for us tbh but we are not sure about committing to another mortgage. I have a public sector works pension, been paying in since 2006. DH doesn’t have a works or private pension. We’re both fairly low earners but at the moment not stressed about money, we live within our means and have a holiday each year.

Oh and to add, we may have some inheritance coming our way at some point but are definitely not relying on it!

We have about £150k in an isa and £60k ish in a Marcus. I also have £15k premium bonds and think husband does too. We had £40k between us from parents. We have about £500k equity in the house and another small house abroad. No secret to it… my husband earns well so theres surplus(or we did, not anymore with nursery fees being thousands per month)

I’m 36, DH 42. Combined salary of 150k and previously were expats so had very few outgoings for several years. Mortgage free now on a 5 bed detached house worth about 500k and biggest outgoing is childcare.

On top of the house, we have about 350k in investments and another 90-100k in savings. Pensions combined are about 900k.

No family wealth at all, just really lucky and taken a lot of risks with work contracts, investments and being far from family & friends.

No family wealth here, have around 32 k plus some gold jewellery which is worth 53k approx.

Ok this thread isn't making me feel good 🤣 I can't actually fathom how anyone can save some of these kinda of amounts without huge salaries or inheritance.
I'm not comfortable saying what I have but I've always saved very carefully. I've recently realised how much a lot of people seem to get from family by sort of sideways means like parents paying for holidays and stuff. Well done to everyone saving really hefty amounts. It's so so hard to save right now because mortgage and everything else has gone up by ££££.

Early 40s. £220k. I’m a SAHM (two DC, reception and nursery) and DH is a high earner. We split surplus income into individual savings 50/50. A small amount is what was left over from when I sold my flat and we bought together.