How Much Money You Should Have By Age (REAL DATA!)

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The 23 year old saving for her future?
➡️ • 3 SIMPLE steps to Savi...
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This information is provided solely as an informational resource and should not be construed as investment advice or recommendations. Decisions regarding investment strategies, retirement timing, and other financial planning aspects constitute critical choices in one's lifetime and should never be taken lightly.
This information is presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific person, and may not be suitable for all individuals.
It is crucial to note that this information is not intended to form the primary basis for any investment decision. Always consult your own legal, tax, and/or investment advisor before making any decisions related to investment, taxation, estate planning, or financial considerations.
Contrary to the notion of "get rich" programs, success in financial matters often involves fundamental strategies, diligence, and time in the market. Conduct thorough research, make prudent choices.

[@dorothymoller566]

I went through a financially brutal divorce in my 50’s - had to pay alimony, put a kid through college, and pay off all debts from a family business. At the end, all retirement and savings were cleaned out by age 58. Just as you say in your video - you can, and I did - put my head down, get to work, and claw my way back. Not completely, and I’ve ended up working longer than I planned - but, I now have a pretty secure retirement and I interspersed travel so that I didn’t just feel that I was working just to get to an age where my best years were behind me. It IS possible if you put your mind to it and get creative.

[@2GoRoam]

Fantastic and inspiring Dorothy! Thank you!

[@daveramm43]

😂Fame at last ! I am the Dave you referred to at the start of the video. No offence was taken Neal and I’m not in any way disparaged… keep your excellent videos coming…. Love you guys.

[@2GoRoam]

Haha thanks Dave! Pleased you appreciated it.

[@viaceslavjanc3267]

37 years here, immigrant, came to the UK with £2k savings in 2008 worked ever since. Now have a 300k house with 50k remaining mortgage, pensions, ISAs and all. Always had more than just 1 job. The cost is no life, just grind and save.

[@DreamClean]

Giving up 16 of your best years to grind? Was it worth it?

[@viaceslavjanc3267]

@@DreamClean what's the alternative? YOLO? Travel? Pubs? Crap? And then whine that I cannot afford a house and live payslip to payslip and hope that daddy government will come and save me and punish those dastardly greedy landlords? Thank you, I'd rather give up my 16 best years to then enjoy the next 40 best years in peace

[@DreamClean]

@@viaceslavjanc3267 There is a HUGE middle ground that you are ignoring. I did the 3 jobs thing for 7 years in my early 20s. I've just turned 30. I've got £150k saved and invested. I still regret it personally.

[@nickwoodward3034]

​@viaceslavjanc3267 compromise is important too.

[@viaceslavjanc3267]

@@nickwoodward3034 that's exactly what I am doing. Lifelong compromise. Ensure security while you at your top efficiency and energy, and then netflix and chill while everyone else is running around screaming

[@MastG]

hi I retired 3 years ago(55) with a decent DB pension, I paid of my mortgage @48 (house now worth £400k) and saved £550K in stocks and shares ISA. It can be done if you are on a fairly decent wage, as long as you don't want the flashiest car and buy new tech every update. Before retiring I had visited 68 countries and have a passion for ancient ruins/cities. Over the last 3 years I have visited 2 new countries (Uzbekistan and Turkmenistan) and revisited a couple of others.

[@2GoRoam]

Fantastic and inspiring. You know, Sarah and I were just talking yesterday about potentially visiting Turkmenistan, it looks a really interesting and unusual place to explore.

[@andymcall1986]

Nice to hear someone living out the plan I have. I'm mid 30's with a DB pension. Stocks and shares ISA and LISA with about £30k so far. I do worry about the massive reduction in taking the pension that early, probably more like 58 or 59 for me, unless I can get 500k into the ISA before that. Its never too early to plan for retirement!

[@MastG]

@@2GoRoam H, I found Turkmenistan interesting and the people friendly. Ashgabat the capital was a highlight with its buildings of white marble. Unfortunately most of the archaeological sites I visited ,such as old nisa and merv, were rather desolate being destroyed by the monguls and then more recently by earthquakes. It seems the government is becoming more relaxed to tourism with less entry refusals.

[@deltaechomusicnh555]

That's awesome. What was your wage while you was working? That's a big factor on how much one can save.

[@MastG]

@@deltaechomusicnh555 Had to look it up !! In 2021 Salary of £61,000, £2,750 to Company pension, £4800 to AVCs, £20,000 to ISA and @9000 holidays. leaving @ £1000 a month to live on. 2020 was an odd year and after returning from isolation ( I flew back from Taiwan, South Korea and Thailand March 1st) I was offered 12 hour days - 6 days a week which boosted my pay from £61k to £110K of which £7k went into my AVC.

[@kevinmcguire1049]

If you send your life comparing yourself to everyone you will never be happy! Create a budget, work out what you need in retirement and work towards the goal that achieves it. Easy to say and takes discipline to do....

[@nmh2800]

Comparison is the thief of joy.

[@2GoRoam]

Well said Kevin!

[@chadparks9810]

My wife and I are 54 & 55 respectively and live in the Midwest of the US. We’re so glad to see your podcast back up and going…your informative data and accent can’t be matched! Like you said in your first podcast back from your absence…we don’t need a bunch of rehearsed and planned out choreography…just pass along your feedback straight from the camera and ad lib at leisure! We’ll keep watching as long as you’re loading video! I retired at 50 and my wife will retire at 57. We’ve always worked since our early teens and had a focused approach on always saving roughly half our income…we never veered from that approach…most assuredly quite tough those first three years, but got easier and easier as the years passed. We’ve never had a new car, new home and mostly acquired clothing and goods at second hand stores or garage sales. Now we have enough to never work again and both have guaranteed US government pensions to supplement our investments, IRAs and other passive income streams. If the young folks could just get it straight early on in their lives to set as much money back as they possibly can during their 35 working years, you’ll have yourself setup for the remaining 30-50 years…it’s not rocket science…just a little well planned discipline.

[@2GoRoam]

Excellent, you have both worked for what you have and took difficult decisions as you went along. Great work. Thank you for your comment on this style of video, pleased that it is resonating with you.

[@MrMctijn]

Saving for tomorrow is okay, but be gentle. You live today, so spend whatever you makes you happy. You better die happy, than rich.

[@METVWETV]

Make a Budget Budget for what "Makes you happy." Be sure to pay all your bills Stay out it Debt and Put at least 15% of your income into retirement savings. Mine is a plan for success Yours is a plan for Disaster!

[@station-7]

15% is a hell of a lot for most people.

[@aztecforlife7360]

Nice job Neil. Kudos to you and Sarah for doing your part to try and counter the insidious dark side of social media . I like both types of videos. Keep up the good work. There is an audience for the information you provide -both travel and financial. Keep marking the trail for.those that need it!

[@2GoRoam]

Thank you so much Scott. Really hoping that the splitting of our channels helps people go to the content they will enjoy more. Speak soon in Live Stream!

[@carried1379]

Love both types of video Neil. This one is really clear and helpful. Very much looking forward to more and seeing the cameos. Making me smile just thinking of them, remembering previous ones. Thank you both so much

[@2GoRoam]

Nice! Sarah is in the next video coming out on Saturday!

[@ginaclark805]

Showing HOW to achieve the lifestyle of travel in early retirement gives your channel more than just a pretty documentary.

[@2GoRoam]

Thank you Gina, we are hoping that the travel channel will show what we are able to do and this channel will show how to do it. Appreciate your comment.

[@mirkosprangers5879]

My wife is 33 and i'm 35. We have a net value of about £135k. We drive a modest car, own a house with a mortgage way below what we can afford. We invest 30% of our net monthly pay and use 15% to save for travels. Good decisions on a financial level forms the foundation of wealth in experiences.

[@2GoRoam]

Excellent. You have your priorities right! Impressed! Keep it up.

[@MegaBakera]

Growing up in an ex-mining community I learnt the value of money the hard way. No silver spoon and the only thing I will ever inherit is debt. My wife does not work through choice, so we have the one income. In my early 30’s I decided that when ever I received a pay rise then I’d take half as pay and put the other half into my pension. E.g. if I got 4% one year then I’d increase my pension contribution by 2%. Now at 55 I have enough in my pension that, if I was to retire today and use the 4% rule, my net pension would be equal to my current net pay. The only thing stopping me is that I want to keep myself busy, so I’ve moved to a much less stressful job working for a charity.

[@2GoRoam]

Fantastic and this is a really inspiring story. Putting half that rise into your pension is taking the benefit of compounding to another level. Well done, appreciate you sharing.

[@UnclaimedClock]

You can’t inherit debt in the UK.

[@sarahann530]

Working for a charity is more like a paid hobby

[@GeoArbitragers-hb3jz]

We retired early leaving Australia earlier this year. Net worth is only one part of the equation. What matters is how much of your net worth you can get to become income producing. In my opinion on the numbers I've been crunching for years the only realistic option for many to retire is to cash in their house and other assets, live in lower cost of living countries and invest the money they have in things that will give them a better return than in their home western country.

[@2GoRoam]

Very sage advice. That certainly helps the money stretch a lot further.

[@BoninBrighton]

Where did you go to? We’re currently looking at moving from the UK to Perth WA on an Aged Parent 864 Visa.

[@GeoArbitragers-hb3jz]

@@BoninBrighton, on the face of it my concern would be that you are simply exchanging one high cost of living country for another. We have setup a base in Thailand and also spend time for part of the year in eastern europe. Being flexible about where we can be is high on our priorities.

[@BoninBrighton]

@@GeoArbitragers-hb3jz we have our son living in Perth so a long term strategy of us needing to live there 15 years before 0% inheritance tax kicks in. This will save 40% of IHT….

[@GeoArbitragers-hb3jz]

@@BoninBrighton, yes. Taxes are one of the major issues preventing people from being independent. There are probably a number of things you could do to avoid that like simply holding your assets outside the UK. When we first started our journey the thought that we would sell our house and be invested in other places was not even a consideration now we don't have anything in Australia and have real estate investments in three different countries all earning an amazing rental yields with much lower taxes and maintenence costs. THe further you go on the journey and more committed you become you find there are some great options out there across all the different things you worry about that you previously just felt comfortable with in the place you know.

[@reawakenedcuriosities4386]

I love watching your content as it makes us feel secure with our finances at retirement. We made few blunders but we can live with it. We now focus on enjoying our travels and our well being. We have more time to guide our son, whenever we’re called for. To anyone who wants to retire early, focus on knowing how your retirement will be like and work towards it. Make sure you also live now and treat yourself from time to time but don’t overdo it. Do not spend more than you earn and make sure saving is a habit.

[@2GoRoam]

fantastic advice! Sounds like you built the right track and wow, we made more than a few blunders. lol

[@reawakenedcuriosities4386]

We learn from you lol and thank you… you and Sara are truly amazing

[@adrianwalker5590]

Just came across the channel. I am looking forward to looking through all the videos. Well done to both of you for being so courageous in going after your dream.

[@2GoRoam]

Thank you Adrian, love having you here.

[@carlyndolphin]

My friend earns £60,000 per year and she has zero savings / investments. I told her to sell her Mercedes and buy something less expensive and invest the difference into a pension. The government pension is £900 per month. I asked if she could live on £900 to which she replied my rent is £1,400 per month! Her attitude is live for today, tomorrow is not guaranteed! I explained that there is a 95% chance that she will reach retirement so she should sort out her private pension.

[@andybellklas1678]

How old is she ?

[@carlyndolphin]

@@andybellklas1678 37

[@rufdymond]

Your friend is very common with her attitude to finances, investing and saving. I bumped into an old friend a few weeks back outside the supermarket. He’s now 59 years old and still working in the construction industry. He was telling me how his knees a shot, his back has gone, but he still has to work…openly admitted to me that he never really saved or put into a pension, and he has earned good money all his life……was still driving a Mercedes GLC though….absolute madness.

[@glendacastillo6504]

She will collect gov benefit.

[@BillY-tw8xc]

You can't help her. She has to figure it out herself

[@penniesandplans6362]

I liked this video format Neil as straight forward and easy to understand and follow. Looking forward to the future videos too :)

[@2GoRoam]

Thank you so much! Appreciate it.

[@leestorm5640]

Many thanks for the video. I'm 53 and very excited to watch you .Good luck and keep going. Give as all ideas from your experience. ❤

[@2GoRoam]

Thanks so much Lee, really hope we can help in the coming videos.

[@markkendall6854]

These types of videos are great, I’m 54 now & brought up from a single parent benefit assisted (& part time hard working mum). She struggled to make ends meet, we mainly lived off the cheap factory rejected food back then. Mum had no financial sense, other than wanting to own her own home (3 bed terraced) & only bought what she could pay for (no credit). But this basic approach instilled itself within me. I want my money to work for me & my family. Not to line other people’s (& tax man’s) pockets. I want good financial freedom possibilities in my 50’s. I have 2 kids (19/21), both working & fortunately they have the same financial approach. No matter what they earn, they will have bright financial futures with this attitude. Will probably appreciate luxuries much more as a result. Keep up the good (basic simple approach work). You have a new follower ❤

[@2GoRoam]

BRILLIANT! This is really inspiring. Certainly when you speak about your kids as in the world today there is so much about 'Show' and 'Bling' and they have clearly learnt from you what you have from your mum. You are winning at life and passing that on. You are brilliant and we love having you here.

[@bonitahill5239]

Very nice!!! I like either format. However seeing the numbers is very helpful. Have a great day 🙂

[@2GoRoam]

Thank you so much, we will be mixing it up a lot. Soooo much to share.

[@tap-money]

Really enjoyed this video. What sticks out to me as a personal finance person is that till 60 we live in the anxiety that we won't have enough, and after our 70s worry that we won't spend it all. No wonder consumption smoothening is such a big topic in Economics! :)

[@atikeozkurt138]

Thanks Neil, I like this content too 👍

[@2GoRoam]

Glad you enjoy it!

[@mjbalmmac1588]

Good content. Good to have some facts to think about

[@2GoRoam]

Thank you! Hope it is helping!

[@nicolacornish7935]

Great content - thanks!

[@2GoRoam]

Thank you!

[@ginag5889]

I love your vids on finance! I’m single and in my early 50’s and constantly worrying about retirement. Am looking at moving abroad to a cheaper country.

[@2GoRoam]

Hopefully though our videos we'll be able to help Gina. All the very best.

[@MaryLawson874]

The economy is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[@jasondavies7568]

Hi Neil Genuinely appreciate this type of video and thought. I’m 58 and in that troubled zone of should I retire, how much is enough etc. Have spread sheets galore, understand my costs, budgets etc so what’s the problem right? Well, I watch/listen to very good folk like yourself and understand better ‘Mean’ & ‘Median’ NET worth and … think I’m doing ok as the mortgage has just been paid off compared to the UK £250k . However, NET worth inc your home value to me, is really only applicable if you intend to downsize. Many don’t if you like/cherish the family home. So it’s then all about pure Pension and Savings values and income from those (plus’s investments if you are lucky enough to have them!) against your plans in retirement ’v’ cost of living. I think many in the audience would appreciate thought/guidance outside of home value as this is the real day to day future living cost. Thanks for what you do to help folks like me standing on the edge so to speak 😂 👍🏻

[@daveramm43]

Don’t stand on theedge worrying if you have enough to retire… do it now. Honestly mate you never know what’s around your corner so if you feel like you want to retire then don’t assign some arbitrary age number to when you do “jump”… go now whilst you can. I retired age 54 with such a low pension pot it would keep most people awake at night 😅…. But my years of backpacking taught me that you don’t need a lot of money to live a decent life. Fast forward 4 years and I’m the same age of you and Ill health that came out of the blue 7 weeks ago probably means getting to age 60 is doubtful. Don’t wait, go now.

[@2GoRoam]

We know that feeling well Jason, hope we can help you in our forthcoming videos.

[@drackkor725]

Thanks for sharing your knowledge.

[@2GoRoam]

Thank you.

[@Wanwan-mq3jw]

Good video! Thanks for ur work 👍

[@JulieAdventureVlogs-sg7ih]

Really appreciate your share of knowledge and experience. Thank you ❤

[@OskarAndersson-vu3xy]

Im 23 now. Have 125k saved up rn. I love simple and try not to spend my money on garbage. My goal is to have 1 million by 40 and then retire. I can then take out about 50k a year to live of and still keep my Wealth (depending on how the stockmarket moves ofcourse).

[@Dave-sw2dm]

If only it were that simple. That million dollars in 20 years wont buy what a million dollars today buys. Same with the $50k you plan to live on. Dont forget that each year you have to withdraw more and more just to have the same spending power. Good luck.

[@OskarAndersson-vu3xy]

@@Dave-sw2dm that is true! This is according to todays prices for food, housing etc. But to have some sort of goal and direction for my savings and investment I did some math and this is what i came up with. Who knows maybe i will make more, maybe less. The future will tell. But yes your statement is very true. Thank you for the wish of good luck. I wish for you the same

[@2GoRoam]

Dave makes a good case but here is another way to look at what Oskar is saying here. He is on a STUNNING path to success and although he wants 1million by 40, given where he is at 23 means he will likely smash that target. There is a saying "Aim for the moon, if you miss you'll still be among the stars." Great work Oskar.

[@OskarAndersson-vu3xy]

@@2GoRoam thank you very much! And thank you for Sharing your knowledge!

[@TERROR-FPS]

Very good to hear, I’m 27 roughly have 150k and a rental property worth about 200k Keep going, I know the life gets boring as hell when u see people with a fraction of your worth flaunting there cash but we will win in the long run

[@Bailey1879]

I prefer median statistics to averages. It gives you a better snapshot of real living conditions -- median home price; median salary; median taxes; median mortgage; median savings for retirement. . .

[@2GoRoam]

Absolutely!

[@Nujja1967]

REALLT useful - Thank You

[@romason6567]

So nice to have you back! To answer your question, I guess I prefer having you discuss while out walking about. In regard to net worth, it would be helpful to know what figures are included: ie is social security included along with your savings, investments, pension and home equity? Perhaps real estate (equity) is bringing these figures up?

[@2GoRoam]

Everything you mention there is included apart from Social Security. Hope that helps. Appreciate the feedback on the video types!

[@juleswombat5309]

The big unknown is your own heath and payment of social care late in life. You can lose all your savings paying for decent health care late in life, albeit I guess you cannot spend it on anything else. Unfortunately the health Car Insurance market collapsed some ten years ago, meanwhile I am not seeing any (UK) government being able to solve a 'fair' social care solution.

[@nicobass1966]

Spot on - like the white board content. Think I'm in a good position for next year at 59 to stop working or some part time work, thanks Nick

[@2GoRoam]

Nice! Well done Nick!!!

[@yangray6400]

Just a quick question if you can clarify that is all the figures you show in your video are they incomes before tax or after tax? Thank you.

[@2GoRoam]

Sure, they are the total of what you own minus any liabilities. So it would be money in savings, pensions, house etc MINUS any money that you owe on the House or cars or any other debt. Hope that helps.

[@dac545j]

Very interesting. Cheers.

[@2GoRoam]

Thank you.

[@IanSuttton]

Good video, very true about having a balance between comparing both up and down the socioecononic ladder. 2goroam travels is nice to see a walkabout in a destination (including some mundanity!) 2goroam should be presented in the best way to explain the point of the video. Whiteboard is fine, doesn't need to be flash. It just needs a clear aim, background, key message, demonstration, conclusion, next steps

[@2GoRoam]

Thanks Ian. Really appreciate this, seems we are on the right course.

[@SlParkerlee]

This is very true and relevant, haha. Before I reached the $100k threshold, 37, I realised how difficult things were. It didn't take me long to reach my goal of having over $2.8 million in my retirement fund alone at the age of 56. The fact that it was so much simpler from there may be due to the fact that my CFP is trustworthy.

[@andbeyondd]

Agreed. I deal with an investment advisor for this reason. I currently have over $800k invested in a diversified portfolio that has grown exponentially and is suitable for all market seasons. Our current project for this year is a more concrete ballpark target.

[@andbeyondd]

-Agreed. I deal with an investment advisor for this reason. I currently have over $800k invested in a diversified portfolio that has grown exponentially and is suitable for all market seasons. Our current project for this year is a more concrete ballpark target.

[@andrewoakley4957]

Damn! This short video has instantly made me feel better about our situation. I really like the median picture, it might even stop me from worrying so much! 😅 Seventeen paydays to go and hopefully be able to spend winter in Thailand and summer, ha ha in the UK. Yes, I do realise it's an expensive way to go about it but there are reasons to keep a base in the UK. It might work out but, if we don't try it you'll never know. 🤔🤭 Oh yes I have subscribed for more whiteboard adventures. 😅😅

[@2GoRoam]

Thanks for subscribing Andrew. You'll certainly see that Thailand is well priced! It is all about having a plan that works for you though. Sounds like you have that going on.

[@mudirmindset]

Work overseas with high exchange rate of your country and retire to the country with low cost of living

[@Simcheckrevision]

Very interesting thank you

[@2GoRoam]

Thank you! Appreciate it.

[@WittyGooseRacing]

Wondering why I recognised your voice, Malaysia! We’ve booked for next year, I shall be following these videos now.

[@WhooshFlyingHorse444]

Enjoyed listening & watching your video. Thank you. Hey, what's that halo above your head? LOL.

[@2GoRoam]

Haha it was just to show that underneath it all, I am an angel :-)

[@queensberryrulez5306]

Boss this video mate! Im in my early 30s and have quite a bit more than the mean 60k stated here! Im not saying this to gloat but just due to my below the poverty line up bringing I am very happy about it. Im constantly thinking about what I will be able to leave for my daughters and any grandchildren.

[@philipporter4433]

Completely agree with the doom scrolling. Im 38, so ive grown up through some of my teenage years and then twenties, but i worry for the next generations even more.

[@terryjones9987]

I'm 55 and do the can I , can't I retire thing. Thanks for the video, I now feel so much secure about my isa pension pot

[@2GoRoam]

Nice one! Pleased you are on the path!

[@jackiestewart5062]

Loving this Neil, English/Aussie girl here, way older than you 2, but right up my alley.

[@2GoRoam]

Thank you!

[@phil_lip1164]

Funny but if you look back at this video, the light behind your head looks like a halo!

[@ccfc]

Subbed. Thanks.

[@2GoRoam]

Thank you!

[@goonz6249]

How do these numbers account for people that have net worth tied up in assets such as their home equity? Is this just cash savings irrespective of assets or both combined?

[@DeanAbelsen]

you're good bro.. 💯

[@2GoRoam]

Cheers Dean!

[@HaiderAlDelfi]

I am 37 and I feel behind even though I paid off my mortgage with equity worth 130K, ISA is about 60K, SIPP is 26K and a defined benefit pension worth 11K a year at current contribution.

[@Tyrell-Jemmott]

Well done

[@2GoRoam]

You're doing great Haider! Hopefully we'll help you get on track through our videos.

[@kennethross3777]

I like your new board-based video, thanks

[@2GoRoam]

Thanks Kenneth, appreciate it.

[@cs1974-]

Love you're videos , I'm not been nosey but I am working towards FIRE also and I would love to know how much you guys got to,to make it happen it's OK everyone saying how much the average is but until you know someone in same boat has done it , I would feel less nervous about pushing the button.

[@2GoRoam]

Ahhh I feel your pain. In fact I think I talk about exactly what you are saying in the video coming out on Saturday. Hopefully through this series of videos, it will get you where you need to be.

[@CamReardon]

Can you make a video about being in your low/mid-twenties about the best and smartest way to save money and build up a saving so that by the age of 30, we are ahead.

[@ianwhittaker3041]

Hi guys, great video. Any plans to do an annual budget update video, ie where you take into account the recent inflation spikes and cost of living increases, and the impact on your world travel plans? I believe in the past your budget was something like £35k per year sterling (or was that US$?). Has that increased for this year? Cheers Ian

[@2GoRoam]

Hi Ian, we will do more about budget on the 2GoRoam Travels channel but may not do a whole year round up. The reason for which will become apparent in the future, we are waiting on the release of a specific video... Long story, but will make sense when it comes out.

[@travellinman382]

Good content, Neil. I like the whiteboard to illustrate. To be clear, these numbers are savings or net worth? Cheers!

[@2GoRoam]

Thank you, appreciate it. These are total net worth.

[@doriangray6985]

​@2GoRoam really? Wow for total net worth they seem very low

[@travellinman382]

@@doriangray6985 I was thinking the same thing.

[@2GoRoam]

Very true. Its concerning...

[@DrRock2009]

Above on all the figures. Single and retired last month @56. 🤞 inflation and the government don’t ruin my retirement….😡

[@2GoRoam]

Nice work Dr!!!

[@jona9840]

I was always told your retirement pot should be what you need to live the life you want x 20. However that assumes your retirement pot stops compounding, which it doesn’t. Reckon 10 x Living Cost is a more realistic number.

[@chqshaitan1]

Great video, nice to see some real world figures. I am in my early 50s and am tentatively planning to leave my career in about 10 years, but I will still be doing a part-time job (has many benefits besides just extra financial 'pocket money'), but it is surprising the relatively low figures, if you are on the median track, or there about, in reality it is going to be very difficult to not work to generate some income, while in your 60's and 70's

[@2GoRoam]

I agree. The median numbers can give comfort but at the same time are scarily low.

[@phillipwallace6305]

Bravo!

[@2GoRoam]

Thank you Phillip!

[@TedBrk]

Agree that the median is a lot more accurate if you want to compare you net worth. Also sharing it per person is useful. People can file for divorce or are (temporarily) not in a relationship. More important than comparing against other people is comparing with past self though. If you save more than you earn and try to get rid of debt you are already winning the game. #persist

[@craigjezz9701]

Are these median figures include any equity in your home ?

[@isaachunt5799]

60 here. 400k house long paid off. 3 new cars all paid in cash. 100k invested. 100k cash. i'm probably retiring very soon. we can easy live off the wifes 80k a year salary, key is not to loan money for silly flash cars. we drive a nissan leaf and toyota aygo. cars are the worst place to ever put your money. but for many a car is the most important thing to impress other people. fools game that

[@user-rp5fh7bb5x]

Is this including your property what you have paid off your mortgage?

[@Dave-sw2dm]

Comparing my net worth to others my same age is meaningless because we all have different wants, needs, and income levels while working.

[@2GoRoam]

Dave you are 100% correct. There is always this desire to compare but whatever someone else has doesn't matter. What you want and how you achieve it is all that matters. Good comment.

[@JG-OK]

I am 34, i saved up and bought my first house when i was 22. By the time i was 27 i had 5 houses. I then also put money into S&S ISA, a SIPP, gold, and a few other things. At 34 my net worth is around £1.2 million. I spent most my 20s working 80+ hours a week. It was a small price to pay the be able to enjoy my 30s now just have a family etc. I still work hard but i have a reasonable work life balance.

[@lindseyscott3011]

Turn 40 this year and just started to think about it.... Have 50k in a workplace pension, 20k in an ISA and just started Stocks and Share ISA yesterday. Lucky enough to have found a job where my tax is paid for me which may last the next 5 years (hopefully longer). Going to use this opportunity to try to have 100k in ISA and mortgage paid off before this job comes to an end. My missus is looking at holidays....

[@Tomd1989]

Just so I am clear, net worth is savings, investments, pension and house equity?

[@SwaghettiYoloneses]

I refuse to allow myself to be down and out even at my lowest.

[@annallen]

Does your net worth include money invested in pension and the equity in a house?

[@AG-so4gl]

Retire where your money works hardest. Earn in developed country, early retire in developing one... 2k a month makes for a comfortable life in SE Asia, backed up by an emergency fund of course 😊

[@FrugalMrB]

I retired early last year when I was 53, and I live very comfortably on less than £1000 per month in the UK - in fact, I wouldn't know what to do with more money than that!

[@kyungshim6483]

Geo-arbitrage!!! That's my plan also. Looking forward to traveling and seeing the world !!!!

[@AG-so4gl]

Wow​@@FrugalMrB

[@craftypam9992]

@@FrugalMrB same here. I've been retired since age 55, so had to use savings till I got state pension at 66. Since then I haven't used any savings or personal pension. In fact, I've contributed to my SIPP and ISA each year from the state pension because I haven't spent it all! I think I live a pretty good life, I did enough travelling in my younger years (over 50 countries, several years), so I guess that cuts down my expenses.

[@2GoRoam]

GeoArbitrage is a wonderful approach!

[@jonothanwilliams7955]

It would be interesting to see what happens if you remove the extremes at both ends e.g. exclude the top and bottom 5%

[@2GoRoam]

Indeed Jonothan, there is a lot that you can do with the data. Hopefully the videos that come along in this series will help put more context around this data.

[@sarahkennedy7765]

How do I get a copy of the Aussie data?

[@2GoRoam]

Hi Sarah, details are in the description below the video.

[@millionaire2billionaire]

I am glad that I am on track for US mean, would like to retire before 2030, how do you invest your retirement fund when you have at least 2 year of spending money not in the market?

[@2GoRoam]

Are you asking about how to invest the whole pot of wealth or a 2 year amount?

[@millionaire2billionaire]

@@2GoRoam how do you invest the whole pot of wealth?

[@johncolclough625]

Thanks are these numbers inc assets less debt or pure savings in bank

[@2GoRoam]

Sure, they are the total of what you own minus any liabilities. So it would be money in savings, pensions, house etc MINUS any money that you owe on the House or cars or any other debt. Hope that helps.

[@johncolclough625]

@@2GoRoam great biggestbissue is inflation great for the house valuation but the cost of living inflation to incorporate as well. One way refinance house soon as can, get a second investment property to allow 2 or 3 houses inflate same no of years

[@XORTION]

Is the median free cash ? And excluding pension?

[@aybaws]

I'm a 22 year old Thai researching about investing and I was kinda surprised when you mentioned my country's currency, considering how weak it is 😂

[@2GoRoam]

Haha BUT.... We LOVE your country! Thailand is wonderful and is totally the land of smiles! :-)

[@ThePolishedapple]

I don’t know about everyone else but the median net worth figures are what scares me, or rather should scare observers. If you’ve got those median numbers saved you’re either not retiring until your 70’s or you’re retiring in poverty.

[@2GoRoam]

Absolutely. Future videos will use these numbers to extrapolate further. It is nice to know you are average but not when you realise what average actually gains you. Good comment.

[@ianfinnemore4800]

My wife and I are fortunate to have a defined benefit pension scheme which will collectively pay us approx £23K p.a. at 55 (we're both currently 53). How should we calculate our savings worth? Is it too simplistic to multiply £23K by say, 40yrs (taking it up to our 95th birthdays) I.e. £920K? Thank you!!

[@2GoRoam]

Hi Ian, I ran that number through a couple of calculators and spreadsheets and it appears to be a net worth of £400k for average life expectancy and for up to 95 would be around £455k. Although none of that really matters, you have a watertight pension, good work!

[@Tyrell-Jemmott]

Incredible video! Really enjoyed, thank you.

[@2GoRoam]

Thanks so much Tyrell!

[@markkendall6854]

Hi, are these numbers total wealth? Eg equity they have in their house etc…

[@2GoRoam]

Indeed it is, the TOTAL net worth.

[@jordanwebb6418]

Happy I’ve seen these figures. I earn a fairly good wage and in my 30’s. I’ve already got £60,000 in my company pension and 13k in stocks. Have 20% each month going in my pension with the company contributions.

[@sallyjohnson5985]

It is going to be difficult for retirees and pensioners where inflated cost of gas, electricity, food etc is out of control through no fault of theirs but due to bad government policy, unless they can return to work. Mass emigration of retirees from broken western countries to lower cost of living countries looks very likely.

[@johntheaccountant5594]

Does these figures include a house? If you rent you have a living cost. If you have a house with no mortgage, you have a valuable asset and don't have rent to pay when you are retired or you can sell the house have more savings.

[@2GoRoam]

Sure, they are the total of what you own minus any liabilities. So it would be money in savings, pensions, house etc MINUS any money that you owe on the House or cars or any other debt. Hope that helps.

[@dazzwick]

Im 53 with a 460k pension fund 20k savings and mortgage free property worth 170k. This looks to be far batter than your illustration but im not convinced i have enough...thoughts??

[@alanhawkes7246]

Recently tuned 40, c£300k in workplace pension savings plus c£250k in equity with my property , as a higher rate tax payer utilising Tax Relief is the biggest incentive I have to help me build wealth

[@2GoRoam]

Yes that Tax relief is a fantastic incentive. No idea what the new government will do with that but keep lumping into that pension while you can.

[@lhefe85]

Great video. I must say you shouldn't really take comfort in sitting in the median, those numbers are hardly enough to live comfortably on.

[@2GoRoam]

Hey thanks for commenting. It's great to have a starting point to work from.

[@lhefe85]

@@2GoRoam yes for sure

[@frusciantesplectrum7980]

I went through a horrific divorce at 27 and lost all my wealth. I’m now 38 and own 5 properties… 3 of which paid outright…. I just can’t bring myself to spend money and reinvest the lot. It’s good but it’s also trauma ha

[@2GoRoam]

Nice work. Great to turn that adversity into your fuel to succeed.

[@albedo0point39]

I wonder what makes these stats up… just savings, investments and DC pensions? Folk in their 50s now possibly have a DB pension from an early job (as do state employees)… at 25x yearly payout, this should also be treated as net worth. Those with full state pension credits have an effective extra worth of £300k for that too.

[@2GoRoam]

It's all of the above including DB, they apply an absolute number to the value of a DB plan to add in.

[@albedo0point39]

@@2GoRoam oh, great. Thanks for the clarification!

[@slayerrocks2]

Thank goodness for that! I was talking to a friend last week, about me being a millionaire, but you would never know it. I have to work to live, and my existence is pretty mundane. My wealth is in my house and my pensions, so my lifestyle is not going to change drastically. The only sign will be my early retirement at 61.

[@erinaustin9968]

Thanks for the informative video.

[@doriangray6985]

What's DB pension?

[@thepropertyflipper]

Are those figures Net worth including home mortgage/equity? Its very true about when you start thinking about retirement and pensions. For me it was my 55th birthday on the day. Before that it wasn't even a thought.

[@2GoRoam]

Yes it is total net worth. Pensions, savings, house less any debt.

[@sonnybryan07]

Oh that’s good im doing ok then 😅

[@ProfitKings29]

My brother age 32 has no liabilities . No lass . No kids . No car . No house . Doesn’t smoke no gambling no fun at all or days out . He saved everything and has £70,000 saved . I have all the liabilities above lass and 3 kids with a car i have £4000 saved at age 36 i earn £850 a week

[@TheSilvercue]

I have only recently started planning for my future. I used to spend for the moment. I have noW built the foundations of a good future, but to be honest I left it way too late. If I had paid attention earlier I would probably be able to retire in 2 years ( when I am 55)

[@philpots3216]

Its crazy now, a very high percentage of people will remain broke, no matter what they do they will hardly make ends meet,,, its very sad whats happening to this world...i know alot of hard working people who will remain stuck at the bottom, opportunities aint as easy to come by as they once were..

[@househussain786]

Would you prefer to put in £4000py into a Lifetime ISA for retirement (get the 25% bonus and interest) or to take a risk and invest £300pm into Stocks over a period of 20 years?

[@2GoRoam]

Hmmm interesting. Depends what the Lifetime ISA is invested in? If you have that invested in Low Cost Index Funds then that will be successful. I would do both, get the LISA and invest for 20 years.

[@tonyquicklaps4347]

The “Why don’t you?” gang , 6 weeks holidays memories

[@batman1980]

I have a net worth of about £1m excluding a pension that should get me c£30k a year which would be supplemented by about £30k in rental income. I am not South so cost of living is reasonable. I had hoped to retire at 55 but two young kids has probably ended that. One thing that really helped was living at my parents until 31.

[@andrewlester1989]

I still feel like I'm behind.. hard to get that feeling out of your head. I'm 35 soon with around 410k net worth around 200k in isa & Pension and 200k in Property 3 rentals with 130k still on mortgages

[@mikesweeney651]

Yeah you are behind with that net worth at 35 if you’re planning at retiring at 36 or planning on living the life of a multi millionaire. Did you even watch the video?

[@2GoRoam]

Andrew we get it. It is a mental thing to work through. Hopefully we can help you more through our up coming videos.