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What's a lot of savings to have for 40 year old

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  • 05-04-2017 10:16pm
    #1
    3 the square
    Registered Users Posts: 695 ✭✭✭


    Just wondering what do people think is a lot of money to have in a savings account or similar ??


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    #2
    me_irl
    Closed Accounts Posts: 2,400 ✭✭✭me_irl


    One million euros... mwahawhawhawwwwww.


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    #3
    ytpe2r5bxkn0c1
    Closed Accounts Posts: 32,688 ✭✭✭✭ytpe2r5bxkn0c1


    Depends on circumstances. Family, children, earnings, debts, housing, pension etc.


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    #4
    Barry Badrinath
    Closed Accounts Posts: 5,460 ✭✭✭Barry Badrinath


    8


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    #5
    uck51js9zml2yt
    Closed Accounts Posts: 18,268 ✭✭✭✭uck51js9zml2yt


    Fiver!


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    #6
    Ferrari3600
    Closed Accounts Posts: 617 ✭✭✭Ferrari3600


    Can you spare any change bud


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    #7
    bmwguy
    Closed Accounts Posts: 2,006 ✭✭✭bmwguy


    No answer to this. Depends on a huge amount of things. I have a friend mid 30s for example he would have had a lot put away and had a decent bank balance but he recently bought a new bigger house and hasn't a pot to piss in now.

    Everyone should be putting money away towards retirement though a 40 year old today will not get a state pension until 68 which is too old in my opinion to have to work full time. 60 and I'll retire.


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    #8
    spacetweek
    Moderators, Science, Health & Environment Moderators Posts: 4,974 Mod ✭✭✭✭spacetweek


    3 the square wrote: »
    Just wondering what do people think is a lot of money to have in a savings account or similar ??

    I'm a few years away from 40. I won't say the exact amount but I have more than 30k and less than 70k in savings. But I invested a lot last year and put a lump sum into my pension.

    I think anything more than 20k is probably a lot.


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    #9
    me_irl
    Closed Accounts Posts: 2,400 ✭✭✭me_irl


    Senor Fancy Pants wrote: »
    8

    Thaaaaaaaaaaaaaaaat's Numberwang!


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    #10
    Bonzo Delaney
    Registered Users Posts: 1,577 ✭✭✭Bonzo Delaney


    Three fiddy


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    #11
    Your Face
    Closed Accounts Posts: 7,277 ✭✭✭Your Face


    Oooooo - savings account.

    Well excuse me, Louis XIV.


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    #12
    bmwguy
    Closed Accounts Posts: 2,006 ✭✭✭bmwguy


    spacetweek wrote: »
    I'm a few years away from 40. I won't say the exact amount but I have more than 30k and less than 70k in savings. But I invested a lot last year and put a lump sum into my pension.

    I think anything more than 20k is probably a lot.

    Would you own a property at the moment? It's a nice whack if you own a house


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    #13
    Hande hoche!
    Registered Users Posts: 7,514 ✭✭✭Hande hoche!


    42,000.


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    #14
    spacetweek
    Moderators, Science, Health & Environment Moderators Posts: 4,974 Mod ✭✭✭✭spacetweek


    bmwguy wrote: »
    Would you own a property at the moment? It's a nice whack if you own a house

    We inherited our house.


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    #15
    stimpson
    Registered Users Posts: 7,815 ✭✭✭stimpson


    At least 6 months salary.


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    #16
    The Backwards Man
    Closed Accounts Posts: 18,299 ✭✭✭✭The Backwards Man


    If you have enough for a good week in Vegas that's plenty


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    #17
    Dirty Dingus McGee
    Closed Accounts Posts: 7,631 ✭✭✭Dirty Dingus McGee


    46 million euro.


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    #18
    bmwguy
    Closed Accounts Posts: 2,006 ✭✭✭bmwguy


    spacetweek wrote: »
    We inherited our house.

    Frees up a nice bit of cash to give you plenty of options so, could build a nice lifestyle.


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    #19
    osarusan
    Registered Users Posts: 16,572 ✭✭✭✭osarusan


    I have 9 cigarettes in a box.

    For a rainy day.


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    #20
    smelly sock
    Closed Accounts Posts: 6,820 ✭✭✭smelly sock


    I have 8 grand save but have debts of 190k. I'm 32.


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    #21
    clairewithani
    Closed Accounts Posts: 2,270 ✭✭✭clairewithani


    I regularly have no money for the last 3 days before payday.


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    #22
    Permabear
    Closed Accounts Posts: 39,022 ✭✭✭✭Permabear


    This post has been deleted.


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    #23
    smelly sock
    Closed Accounts Posts: 6,820 ✭✭✭smelly sock


    Permabear wrote: »
    This post had been deleted.

    What's wrong with having a lot of money in a savings account?


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    #24
    Arghus
    Registered Users Posts: 14,369 ✭✭✭✭Arghus


    smelly sock wrote: »
    What's wrong with having a lot of money in a savings account?

    I think the implication is you should give it to some financial guru so he can work his magic...


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    #25
    Permabear
    Closed Accounts Posts: 39,022 ✭✭✭✭Permabear


    This post has been deleted.


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    #26
    Senna
    Registered Users Posts: 8,800 ✭✭✭Senna


    Hold on, I'll check down the back of the sofa


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    #27
    jimbobaloobob
    Registered Users Posts: 5,153 ✭✭✭jimbobaloobob


    What would you suggest is done with it? Permabear


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    #28
    Permabear
    Closed Accounts Posts: 39,022 ✭✭✭✭Permabear


    This post has been deleted.


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    #29
    Vex Willems
    Registered Users Posts: 503 ✭✭✭Vex Willems


    Permabear wrote: »
    This post had been deleted.

    Now, I'm no expert on finances, and I know you work in that field but surely it's better in a savings account earning nothing than taking bad advice and putting it in a pension and potentially lose it all as many people have or in bad investments.

    I'm sure you could advise better but when lots of people have been caught out surely you can understand why people would leave it as is.


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    #30
    cartman555
    Banned (with Prison Access) Posts: 45 ✭cartman555


    Vex Willems wrote: »
    Now, I'm no expert on finances, and I know you work in that field but surely it's better in a savings account earning nothing than taking bad advice and putting it in a pension and potentially lose it all as many people have or in bad investments.

    I'm sure you could advise better but when lots of people have been caught out surely you can understand why people would leave it as is.

    Fully agree here unless the risk is small.


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    #31
    Permabear
    Closed Accounts Posts: 39,022 ✭✭✭✭Permabear


    This post has been deleted.


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