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.

6k in savings, early 40s. I'd like to change the car and have a new bathroom but want to get savings up first, and it's proving impossible. Children are 13 and 8.

Mid 40s, around 20k in savings, bumped up by selling my car recently.

Small mortgage of under 80k on a small house worth under 300k, SW. Not inherited or been given any money.

Im 40

I have zero savings.

Some of the amounts on here…

We are early 40s and save about 600-800 a month, mostly all of which goes on holidays.

I used to get an annual bonus of around £15k but moved to a different job where I get shares instead of around £20k a year, but then we get dividends on them throughout the year and the share price will go up over time too.

Big mouse takes it all... Roll on Disney

We are low 40s, two children, I don't work but hubby is a high earner. We have a mortgage but we bought our first home in our 20s so we're doing ok with that. We have 50k in savings, some shares and ISA's plus my husband has a work pension and a private pension. We did have a bit of a boost from parents when we bought our first home to get on the ladder and we saved 10k ourselves. Most of our savings have come from my husbands bonus schemes from work plus we aren't big spenders, we aren't tight but we don't waste money on things we don't need. We did buy a new build home so we haven't had to invest much into it, just any general repairs and basic decorating.

Curious, how did you go from 10K to 440K in a few years without any type of inheritance?

Well what helped is that we bought and sold our properties at the right time and made a good profit on each occasion which allowed us to buy bigger along with large yearly increases in both our salaries. Remaining full time post-kids helped despite the nursery fees.

I could probably lay my hands on 25k cash today with no issue. Definitely more if I was looking at investments. Husband could probably do the same. Pensions are currently on track for a 50k annual pension. But we are a high income household so probably not the representative sample you're looking for.

£5.4k

Fuck all, nothing much left to save by the end of the month. I try, but something always comes up it has to go on (extra childcare, car maintenance, kids grown again and needs clothes etc).

Don't compare yourself to others, sounds like you are doing your best, and doing it well!

Me and DH have around £15k each in current accounts/savings, but we live in east anglia where you can buy a 3 bed for ~200-280k (not very spacious but ok) mortgage fairly small.2 kids, no child are help from family so wraparoumd care costs... 2 cars but both old. No posh holidays and we end up spending ££ on visiting his and my parents who don't live locally

I’m single with three children - I have not a penny in savings and it’s doubtful I ever will have. I’ve got about 90k equity in my house but that’s about it.

Absolutely fuck all it do stand to inherit a substantial amount when my parents pass however I've told them to spend it while they can I will not miss what I didn't have and they haven't worked their arse off for nothing , imo they should enjoy the fruits of their labour .

we’re 41 & 43 - around £115k in accessible savings/investments and around £100k approx in pension savings. 270k left on mortgage of house value around £530k - currently overpaying ! Owe car outright (nothing fancy ) no debt credit cards cleared each month

Zero, zilch, nada.

I do have £4k in Cc debt though.

About 200k I think, I’m a sahm, we had our DC a bit later which helped (were able to relax on spending a bit because we had cleared our mortgage). A few good sized bonuses really helped tbh.

£1k. Part time work pension and a mortgage that won’t be cleared until I’m 70. Single parent

@HomeiswherethedogsareWe were both PhD students in the US into our early thirties and only started earning then. But salaries were fairly good and outside/consulting options massively increased during our thirties. We were saving money before but used it to buy property. Saved 800k as a deposit and now have a massive mortgage (which we are trying to pay down fast), but also able to accumulate savings.
Have only had both DC in private school for two years and that has definitely reduced our ability to save! Also have expensive building work ahead.

We had almost 100k as needed an extension. Now several years on, no extension and no money. Thank you long covid, Liz Truss and COL. I hate that more and more people are propelled into life limiting health after every wave of covid.

No family wealth/help/inheritance.

We are higher earners. 40ish, 2 DC. We've got about 50k, we had more but moved house last year & spent it all then. We have a big mortgage (over 600k) and are saving to overpay when the fix ends.

Separately we also have pensions, each have a pot worth about 3 x our annual wage.

At your age (ten years ago, I’m now late 40s) we were similar except had a smaller mortgage as made decision in early 30s to move out of Acton where we rented, and moved west to a leafy market town. Unless you have a fabulous job, we found London isn’t a cost effective place to live at all.

I’m going out on a limb here but when you’ve had a kid in childcare for several years I don’t think you’ll have savings. It’s just how it is. Within a few years of kid starting school though, you bounce back because you save thousands and thousands of pounds - it feels like a miracle to be honest.

The best month to have a baby is September as effectively you pay the least in childcare, for anyone planning another!

I’m 40 about to have my first baby and renting in London with my boyfriend but we can’t afford to save up a deposit to buy unfortunately. I have 3k in savings but about 12k in cc debt luckily managed to transfer it all to a 0% card for next 2 years so I’m hoping to get that down as much as I can. I have a work pension of about 30k. Feel a bit deflated reading all these comments but I’m trying my best.

Boyfriend doesnt have any savings or a great pension tbh and im not sure how much debt he has as he’s very private

Maybe 50k but will have big expenses soon for a few years..college, taxes etc. Was kind of saving for that. Also car needs to be replaced soon.

We have pensions too..not massive.

At what stage do you tell your teenagers to start paying for stuff themselves...e.g. phone, social events, music books/lessons?

41 and basically no cash saving (I say nothing because although we have about 20k it’s going out the door on renovations very soon). However, we have a rental property we’ll sell next year with about 700k of equity in it. About 100k will go on more building work and not sure about the rest. Overall we have about £2m in equity in properties and pensions of £1m between us. 2 kids, my OH doesn’t work but I earn about 150k and he used to earn similar / a bit more. I did inherit £150k from my dad a few years back.