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.

Early 40s. 2 primary kids, one at a private secondary. Earn £170k between us. Mortgage £900pm. Prob spend £6k a year on holidays/ weekends having fun. Husband has an excellent pension, mine is distinctly average due to a number of career changes. We have about £40k in savings, and then money locked away for the kids.

We’re early 40’s, zero savings. We owe about 4.5k (mix of owed to family and credit card) plus 230k mortgage. We did have a building project a couple of years ago that cost more than planned and we have one in primary in wraparound and one at nursery. We don’t have high salaries but have been paying into pensions for a good while.

Nothing at all, I’ve just blown it on a motorcycle and all the gear! You only live once and all that!

About £25k, terrifyingly little considering two children in private school. We have been lucky with property and earnings approx 200k between us with about double that left on mortgage. Both pay large public sector pension contributions and have much smaller additional private pensions we’ve siphoned money into. Have many years of school fees ahead of us - I’m late 30s and DH early 40s.

I’m 36, DH 44.

About £65k in accessible savings, but c £15k is earmarked for spending in the next 12 months so £50k true savings and about £350k in private pensions between us.

Mortgage is £240k, I drive a Fiesta, he drives a small electric runaround, both paid off.

My money has nothing to do with the online world.

No family wealth or help at all so far but I do expect we will benefit from inheritance (hopefully not for many years yet), as our parents all own their homes.
We have 30k in cash savings that is for emergencies only, and around another 15 is semi earmarked for things like braces, driving lessons, big expenses. We have another account that ebbs and flows through the year that we pay Xmas, cars, holidays out of and that may have between 10k-30k depending on what needs to come out. We try and keep a buffer of 10k in there although it’s projected to drop to around 4K at some point next year.

We have around 420ish left on the mortgage. House is probably worth about 900-950

No child care as the kids are 10 and 14 now

Pension wise, I have been paying into an NHS pension for 17 years and am now contributing an extra £250 a month. DH didn’t pay in for a few years and his pension is actually a bit crap - he’s now trying to go gangbusters on it and paying in 30k a year.

So very financially comfortable thanks to DHs job really, although I’d like to have enough cash to pay for University, give house deposits etc and I don’t think we’d manage that. We will have to see. The kids each have an ISA and will have about 30k each at 18 so hopefully that will go towards something sensible.

We are early forties and I think looking back we were where you are five or so years ago…. Big mortgage, just properly getting going on savings, still paying out childcare etc. Then things just start getting a bit of momentum and in your 40s you can really lean in and go for it.

No family help here at all, and no expected inheritance but both have earned well for last c10yrs
about 50k between us in accessible savings (cash & premium bonds)
about 200k between us in ISAs
about 500k between us in pensions (haven’t looked since Iran situation so probably dropped a bit)

hoping to retire early in about 10/12yrs

We’re both 40. £76k in savings. £640k mortgage. House value of £900k. Inherited £65k from my dad when he died a few years ago. Put some on mortgage, some on house reno and some in savings.

Will have an inheritance of maybe around £300-400k if it doesn’t go on elderly care.

We had quite a bit but bought a house and renovated and now back to approx £500. It keeps me up at night.

Pension pots are quite decent thankfully and I've just opened a Lifetime IsA which is the best thing I've ever done (financially). I am saving minimum at the moment & even that's building up quickly.

I am looking for a new job (was made redundant!) and when I've found something I'll be saving £1,000 a month in general savings and £100 a month in my LISA.

I come from poverty. And I cannot stand financial insecurity. I find it very triggering ☹️

Around £15K. 42, Single, childless, renting, fairly frugal.

We have a similar huge mortgage like you, about £30k in savings for the family, about £20k savings combined for the kids for the future. What is killing me is the pension. I only have £70k and i am failing to see how it will be a descent pension by retirement. arghh!

I have about 2k in savings, DH has over 120k in savings and stocks, I have taken a lot of unpaid leave for DC but back now working FT with a few promotions in last few years. I have a very solid DB pension and with state pension I’ll have about 3.5k per month plus large lump sum, DH pension a lot less but still has small one.

we have 85K left on mortgage which will be paid in 5 years, childcare costs will also be finished then. So I’ll be saving much more then.

No help for us or inheritance, in fact I grew up in complete poverty with not much options for the future!

I have about 20k in savings, and about 10k in various investments/bonds. Not sure where my pension stands but I've always paid in.

Mortgage won't be paid off for another 15-20 years, but no other debt.

DP's money is separate to mine, but I'm pretty sure he has at least triple what I have in savings and investments, maybe more.

Only one child. I had a timely inheritance which helped massively with house deposit.

3 buttons, a cat 0 money but an interesting life so far

Ok I am a lot older but we have zero savings despite husband earning £80,000 in the 00s . Mortgage was our main cost ,about £1000 pm ,we did choose expensive catchment area because we come from that area and our children benefited from the excellent secondary schools.Cheap holidays ,I scratched around for cheap days out,drove a cheap car …still do! Relied a lot on entertaining my children at play park,swapping with friends…absolutely zero cost . I never bought coffee on the run etc and they got a treat at Macdonalds maybe once a month.
Definitely think having direct firm contact with friends and making FIRM commitments worked …people were not so flaky.

Mid 30s. £0 in savings

My daughter the same. IRL I think this is the case!

Late 30s- own 1 house out right (worth 400k), have a house worth 170k with 85k left on mortgage. And about 1500 in savings
Have 1 DC and hubby...
And a pension of just over 70k...

When we were late 30s, about 10k. Now 47, and have 440k in easily accessible savings. More locked up. We didn’t own property until our mid 30s and have since moved twice. Things can change fast!

Early 40s and we don't have a lot of savings. We use sinking funds for things so that combined is around 3k and we could use that in an emergency. Both have work place pensions and have a mortgage but no other debt so I think we are doing okay. I think the reality for most people is that they don't have huge savings.

Late 30s and a single parent of 2 now a low income.
I have around 5k in savings. There’s no point me saving more than 6k as then I’ll get penalised by UC

@Hahabonkis likely a fantasist or they would
come back.

it’s not the amount, it’s the fact that they have clearly ignored the fact that the poster specifically asked about people who earned an average salary, and also didn’t have inheritance.

I would take this with a pinch of salt.

It would be interesting to have a thread where people have high savings, and explain how they got to that point.

Late 30’s married .
two kids. (15&18)
relatively low income
(teaching assistant and bus driver)

just shy of 2k in our savings (500 in stocks and shares)

have 60k left on mortgage

about 5k bad debt

car owned outright as older , but just passed its mot so fingers crossed it should hold out a year or two.

Should disclose my mum bought me a Henry hoover when we moved out so we have had parental help 🤣