Recommended Savings by Age: How Do You Compare?

I entered my 30s with an income of 42K. At 38 now I earn 100K. I always wonder about the 3x salary objective at 40yo. Is it presupposing a constant salary accross ages? It is way harder to have 300K by 40 than 150K if you take into account the progressive increase in income.

I think now in 60' with waaayyyy less than 8x yearly salary I will be happy to buy a comfy tent ...set it up in public park and "enjoy" my savings

Hello! Thanks for the video.
Could you please clarify why do you use 8% return estimation?

She really said “ 8% “

Taking early notes as to the importance of financial literacy, sound asset diversification and risk management It can’t be overstated. I’ve been trying to grow my portfolio of $300K for sometime now, I would greatly appreciate any other suggestions.

Awesome content
And beautiful woman

Love your videos! What percentage would you recommend for 30 year old to contribute towards their pension (UK)?

Thank you, just the video I have been looking for!

Any videos on if life has gone wrong financially (not even close to entirely my fault) and at just younger than 40 a person is starting from zero? No benefit of compound interest, unemployed at present, no savings, cry worthy situation?

Constructive advice, recommendations, suggestions, directions?

I am 22 years old debt free and my portfolio 5500$ 😊

I think the one thing this video doesn't take into account is the fact that savings are there to be used for necessary purchases, the largest of which would be a home, but also potentially a car, further education, medical / dental fees, home maintenance, etc. House deposits in particular are huge these days in the UK. So essentially, every pound you save in your 20s, 30s, 40s, etc., isn't going to be invested over a very long term period.

@nischa Where can people get 8% per year!?!? I care about my future & that of the next generation, so I don't invest in the stock market which is full of fossil fuels & other planet destroying corporations. We won't have a world to retire to if "business as usual" continues as it is. Any advice on ethical investments that give a decent return? Thanks. 🙏🌍🌱

I sacrificed from 22-27 to get a 200k liquid net worth. Now I think i can live more freely and work on my social life / causes i believe in.

Annnnnnnd where do I compound my savings

I'm doing well so far, and I have roughly 800k saved for retirement. It might be frightening to go from accumulating wealth to spending, particularly in light of the skyrocketing rate of inflation. What happens to my tax-advantaged retirement funds if I've maxed them out?

I’m 22 years old with £65k in savings my parents grew up in poverty I have a scarcity mindset and scared of investing because I know there’s a chance of loss

I find your videos so inviting and calming, as opposed to stressful like many other financial videos. Thank you <333

When you're talking about saving X times your salary, is that relative to your current salary or relative to your salary at 20? Or 30? Because the examples you showed at 30 and 40 relied a lot on the growth of the earlier investments but didn't seem to show the salary increases over the same period.

Yea it's important to save but so many people don't live in the moment and many people don't live to retirement age ..

Hi!
Not sure whether you read new questions on 'older' videos, but here goes anyway: these guidelines seem to assume you're not buying a house at any point. How does this fit in? Does the net value of your house (value of the house - remaining balance of mortgage) count as money 'saved up', or is the expectation to have these suggested amounts actually on various accounts bank/investment accounts, regardless of the money spent on a house?
Thanks for the interesting videos!

I'm a single, 43-year-old father who resides in Hamburg. If everything continues to go well for me, I intend to retire at age 50. I couldn't be happier right now than I am that I just bought my first house last month. I'm so happy that I made wise choices that altered my life forever.

Im 47 & have saved 100k in my stocks & shares ISA,now fhbgwrs crossed im relying on compounding growth within the account fingers crossed 🤞🏽🤞🏽

marry wisely! It’s literally make or break in how your life turns out. Financially and emotionally.

in the UK? over 50? 6x what? are you kidding me? Please.....

💸💸💸💸💸💳

8% average rate of return?????

im 35 and have 60k in my bank. its all i have. is that bad

i'm 31 and have nothing saved but i am learning about all this and investing etc now

I reached $138k today. Thank you for all the knowledge and insights you've shared with me over the past few months. I began this journey in October
2024. Financial education is essential for over 70% of the population, as only a few are truly literate in this area.
Thanks so much Charlotte Grace Miller.

I think that some of things in relation to savings may not work if you have missed this by the time you reach late 40s so getting a side income may be the way to go

It's only an idealized picture of a high-earning person in a forever stable economy.

Would you recommend saving or paying off extra on your mortgage?

Would you recommend saving or paying off extra on your mortgage?

I have a question for you: when you calculate your x6 of your Salary in 50's etc... do you include your primary home if it's paid off? or the primary home is not included in the x6 salary in your 50's?

You factor in 8% per year, isn’t that too optimistic?

As a 25 year old, I need to step it up.

It is advisable to save at least 15% of your income in a 401(k). Online calculators can help you estimate the appropriate savings amount based on your age and income. By saving at least 15% of your income in a 401(k), you can work towards a comfortable retirement. This strategy allows you to benefit from compound interest, potentially growing your retirement savings significantly over time.

Your video blew my mind. If I trace my life: in my 20s i was investing in myself for my career. in my 30s and 40s i was investing in my home and family. Only in my 50s i had enough left over to accumulate wealth. I now live in a £750,000 house with a small mortgage which will easily meet your criteria. However pension and savings is no where near. It makes me laugh when investor say if you saved £5000 when you were born you would be a millionaire when you retire!! £5000 was the average gross annual salary when i was born!! I love your channel by the way and always inspired by your content.

Thank you for your tips

$50,000 by 30?! Whaaaaat. Is that on top of a deposit for a mortgage? I spent my entire 20s saving for a house deposit 😅 no way I could do 1x yearly salary AND house deposit! My 30s are all about using the skills I learnt in my 20s though, so that's nice I'm on track with one thing hahaha

I don't think savings capture what people have in defined contribution workplace pensions.
I have about 10x in pension vs my accessible savings.
At 35 I 3x earnings in the pension. I started in early 20s and employer matches contrubutions up to 8%, also salary sacrifice means i save on IT, NI and student loans. Every £1 of lost take home each month equates to at least £3 into the pension so it seems worth it to me.

I made a lot of sacrifices in my 20s and at the time felt like I was missing out on a lot 😢. Age 33 became mortgage free managed to eliminate it and have zero personal debt. I feel so free and have no regrets. Another thing, having shares/stocks has been great too. I don’t have a lot, but enough just incase I need some money and my dividends pay my council rates on my mortgage free home 😊

forget about partner, kids, parents, families, focus on you 100% and if you have extra time then maybe someone else.

8 times my salary in the bank by the time im 60 ! Not sure thats a thing for almost every average earner in the UK. Does this include my pension pot or is this the amount I should have alongside my pension ?

Damn she’s fit af

Love this video and your style of teaching!

To answer your question on whether it is realistic to save 6x your annual income by 50 - the complexity is that income tends to increase over the course of a career, often very substantially. For example, I earn 10 times more today than I did in my first role after university. For this reason, while it may be easy to overachieve against an earlier salary level, it is likely not realistic against the more recent salary levels.

Meanwhile in the real world where people can’t afford to switch their heating on

I would have bought more nvidia in 2019 and 2022, I am 31 so it gave me a bit of a push. This year I aim to achieve 200k€ and earn 120kCHF excl. bonus with a job switch

In this video, I share Fidelity's guidelines for how much you should save by age plus (and more importantly!) actionable points to focus on during each decade. Enjoy!