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how much should I have saved up by 18,25 and 35?

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I always wonder this but I'd have a guess a few thousand at 18, five digits by 25 (say 10k-15k) and by 35 maybe 30k-45k mark if you're talking per person, not a couple or friends etc. Again, that is a complete guess, I could be talk rubbish

Reply 21

Reue

Original post by Marshmallow9999

how did you get 60k? :redface:

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I wouldn't hold your breath for a comprehensible response. James is one of our regulars who entertains us with his tales of great wealth which never stand up to scrutiny.

Reply 22

ViewsFromSi6

18 - 1k
25 - 8k
35 - 50k

Reply 23

Marshmallow9999

Original post by ViewsFromSi6

18 - 1k
25 - 8k
35 - 50k

I think this seems a lil low tbh

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Reply 24

brabzzz

Are there official figures for this, just out of interest?
I imagine they'd be very dependent on, obviously, job, region and lifestyle - so even then an average would be far from representative.

Always surprised by debt levels on every scale.
In theory i (and even my pet goldfish) are worth more than the country if the bell was rung tomorrow to settle accounts :smile:

edit - wasted 15 mins looking. There are not. Plenty of figures, but it seems that if you give 100 people a calculator, you get 100 different answers. Old Reliable, the Daily Mail, reckons the average Brit is worth £150k though...

(edited 8 years ago)

Reply 25

Satanas

Original post by RandomGuy19

Yes, that seems reasonable.

As I mentioned average person in the UK has net worth of 43k excluding home equity, and the average age is 40 years, so your figures are sensible.

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Reply 26

RandomGuy19

Original post by Satanas

Yes, that seems reasonable.

As I mentioned average person in the UK has net worth of 43k excluding home equity, and the average age is 40 years, so your figures are sensible.

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Not a bad guesstimate then haha, I am 19 (20 in a couple of weeks) so I am just on track, I do need to get a job soon though - not had a 'proper job' before (all of mine thus far have been small paid, couple hours work here and there)

Reply 27

Quady

Original post by Gloomymillennial

At least £200,000

What about these days?

Reply 28

ReadingMum

Original post by Doones

I bet 95%+ of people don't save anything like as much as that... :frown:

Also, put it in an Investment ISA or a pension?

Original post by Reue

I expect most dont.

And both.

The earlier you get started on a pension the better - growth can be compounded for longer.
It is a closer call between S&S ISA (taxed money going in) and Pension (tax on the way out) when you are a basic rate tax payer. Once you are in to higher rate tax then the pension is much more tax efficient but you still can't access the money till 55 or 57 or whatever age it is by then so some ISA is still wise.

Reply 29

Quady

Original post by ReadingMum

The earlier you get started on a pension the better - growth can be compounded for longer.

Surely if they started in march '21 rather than Dec '16 then that'd be better?

Reply 30

ReadingMum

Time in the market rather than Timing the market.
Whacking a load into pensions in mid March 2020 would probably have been a good move with hindsight but it could have carried on down for some time rather than actually rallying pretty quickly. Its a long game.