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How much money you should save BY AGE?

Nischa 325 views

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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!
Comment from : @nischa

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
Comment from : @keepitraw1

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
Comment from : @user-io4xp1cs5p

Love this video and your style of teaching!
Comment from : @danie1pere2

Damn she’s fit af
Comment from : @LuffyDaGoat

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 ?
Comment from : @simonhesbrook1761

I don't think savings capture what people have in defined contribution workplace pensionsbrI have about 10x in pension vs my accessible savingsbrAt 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
Comment from : @jack504

$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
Comment from : @loose167

Thank you for your tips
Comment from : @liamwebb9638

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
Comment from : @viviancarolgioao

As a 25 year old, I need to step it up
Comment from : @d3knot

You factor in 8 per year, isn’t that too optimistic?
Comment from : @Hitman_0011

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?
Comment from : @TravelManya

Would you recommend saving or paying off extra on your mortgage?
Comment from : @jadecarterful

It's only an idealized picture of a high-earning person in a forever stable economy
Comment from : @stephc990

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
Comment from : @beckyw6141

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 Octoberbr2024 Financial education is essential for over 70 of the population, as only a few are truly literate in this areabrThanks so much Charlotte Grace Miller
Comment from : @johneliss

i'm 31 and have nothing saved but i am learning about all this and investing etc now
Comment from : @Junderwood93

im 35 and have 60k in my bank its all i have is that bad
Comment from : @komujimaru

8 average rate of return?????
Comment from : @rumoursofwar4624

💸💸💸💸💸💳
Comment from : @HasanRifino

in the UK? over 50? 6x what? are you kidding me? Please
Comment from : @pdaniaful

Im 47 & have saved 100k in my stocks & shares ISA,now fhbgwrs crossed im relying on compounding growth within the account fingers crossed 🤞🏽🤞🏽
Comment from : @gurdeepchumber2764

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
Comment from : @Peterl4290

Hi!brNot 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?brThanks for the interesting videos!
Comment from : @WannesNijs

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
Comment from : @slinkydonkey

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
Comment from : @gcranston83

I find your videos so inviting and calming, as opposed to stressful like many other financial videos Thank you <333
Comment from : @chelsiebradley5625

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
Comment from : @CMN39424

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?
Comment from : @LesterHess-t1x

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
Comment from : @AnnaC-c4h

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?brbrConstructive advice, recommendations, suggestions, directions?
Comment from : @omotolaadegoke8830

Thank you, just the video I have been looking for!
Comment from : @omotolaadegoke8830

Love your videos! What percentage would you recommend for 30 year old to contribute towards their pension (UK)?
Comment from : @heliamonteiro288

Awesome content brAnd beautiful woman
Comment from : @lionels839

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
Comment from : @tonysilke

She really said “ b8/b “
Comment from : @FromAmber

Hello! Thanks for the videobrCould you please clarify why do you use 8 return estimation?
Comment from : @RamonBalthazar

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
Comment from : @01worldguy01

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
Comment from : @antoineplouffe1762

So far I'm doing good, approaching retirement with about 800k in savings Transitioning from building wealth to spending can be scary, especially with soaring inflation My question is, after maxing out my tax-advantaged retirement accounts, what next?
Comment from : @NicholasBall130

Poor people
Comment from : @ericmcdowell9745

I am sorry but using average salaries does not work for the reality of what it is 98 of people in their 30s in the Uk earn far less than 40K
Comment from : @Sg248

I just turned 50 I lost alot during the 08 crash and had to closed out my 401k to pay for my wifes degree That being said I started over 16 years ago on my 401k That being said my annual salary is right at $100k and you said that 6x your salary by age 50 and we are right there at $600k in 16 years
Comment from : @qlogic74

something I picked up at the 2:50 mark, is that if you are earning 50k a year, that doesn't translate to have 50k a year to put into investment or savings accounts
Comment from : @harrisonturner1716

in your 50s i would put my 2 mill on high yield and live on the interests for the rest of my life plus my pension
Comment from : @Mayan87

these are fairytale numbers lol
Comment from : @JD19899

Realistically? at 60 you should have 15-20x if you want to retire at 60
Comment from : @agates9383

40s are not my best earning years as I reduced my hours to spend time with my children 😕
Comment from : @honorburza9110

I was always very good with my finances but completely overlooked the interest rate of my student loan In the last few thousand pounds the interest climbed by quite a few percentage so I paid it off a few years early
Comment from : @jameswallace6249

I didn’t invest for myself I invested for my daughter However, I’ve got final salary and civil service pensions Started at 20 now 51, I think this will cover my retirement, but financial channels don’t talk about these often
Comment from : @manymoms920

I don't think income should be the multiplier used in this calculation 4x your salary at x age - some people save a lot more of their salary than others Some people are paying off a house with that salary and wont have to pay for housing when they retire vs someone who intends to rent forever
Comment from : @jonathonharris8753

The multiplier vs age doesn’t work when salaries have changed so much over the last 30 years I am making much more than I was at 20s or 30s (I am currently 48)
Comment from : @macgrooven

Hi are student loans consider high interest debt???
Comment from : @alexindigo8904

Wife and I in early 40s We have 700k saved Will also have a combined pension of 200k when we retire b
Comment from : @atdower

don't just invest maximise the returns
Comment from : @snoopys14

Median income in the UK (not by age) ranges from 44,370 in London to 31,200 in the North East with an average of 34,963 Just a heads up for those of us still not earning 50,000 a year in our 40s Life goes on And this is advice for a small group in the UK Almost 46 of people in the UK have less than £1,000 in savings 1 in 6 have no savings at all (that's 87m people)
Comment from : @stooklyB

BS video
Comment from : @srinathnathan

Assuming 8 return without mention of taxesbrBest idea, make a YT channel and give advice to others while collecting AD revenue
Comment from : @abea8415

You nailed it Well done Your timeline is quite realistic I’m about to turn 50 in six months, and I can confirm that your assessment is accurate Salaries in the 40s and 50s are typically much higher than those in the 20s and 30s, so some might feel the target is too ambitious, but I can guarantee that it is achievable and that your plan is excellent to share Thank you for your videos
Comment from : @rajvenugopal

I have $2M cash/investments with $15M in real estate at 40 years old Dividends and investments pay $80K per year
Comment from : @chadobomber

Age 46, my current net worth is -2800 euros 😬 Shit happens, i'm not poor, just broke atm It will take a few years to get back on track LOL
Comment from : @johto

Good video, how do you factor in a federal government pension into your retirement savings? Do you still try to get 10x your income prior to retirement? I'll be 44 in a couple months and have 35x my annual income in my retirement savings
Comment from : @50beers70

Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years Here's to $1 million and to FIRE!
Comment from : @kimberlycobbs9303

The avg American is having a tough time, I know I am not alone There are others in same position as me By certain statistics: 22 of americans have no retirement savings 64 are worried that they will not have money in latter years while 47 of adults who are not yet retired think they have to work part-time in retirement How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?
Comment from : @GillerHeston

I wasn't planning on saving for retirement but relying on my pension which I will get 85 when I retire at 63 and I'm currently 45 I just started by 401K and I'm saving $1000 a month and plan to expand it $2500 in a few years after paying off my debt I don't plan to touch my saving until 75 when I will have to withdraw it and place it in a standard investment account The investment calculator estimates I should have about $2 million at 75 assuming 10 interest
Comment from : @joaquinm7502

Are the savings including equity on home? Or only savings and investments in equity funds and shares?
Comment from : @ais1339

@nischa i dont fully agree with it In my 20's i had a shit jobs making max 40k EUR per year if i was lucky Only recently, at age of 32 I identified what i wanted to do and did career change now age 37 I am at 150k-250k revenue per year as self employed consultantbrbrdoes this mean if I had 40k salary for 5 years - i shuold focus on multiplier of 40k or of 150k job's salary that i only got few years ago?
Comment from : @antefex6824

8 year lolollll which will be eroded by inflation
Comment from : @enricobononi8655

nice video!
Comment from : @ramadanhasan299

I sometimes wonder how successful investors manage to accumulate enormous wealth from their investment endeavours because I am an avid investor I currently have equity from a recent house sale that exceeds $545K, but I'm not sure what to do with my money next Is now the right moment to buy stocks, or should I wait for a better opportunity?
Comment from : @KennedyVerbruggen

my salary is 60k i just turned 30 and I have 72k in my retirement ill be well over 15M by age 60
Comment from : @yourmanzach2307

how do these numbers stack when you already have a pension coming at age 57?
Comment from : @yourmanzach2307

say that's about right, at 54 i'm more ahead than the numbers you are giving, i've been working on this since I joined the Navy at 21 I knew in the end it's about money in the bank no debt and I continue to invest, invest, invest lose weight, limit drinking and lift heavy weights I continue to work on these things
Comment from : @mdaje

Is the 30s goal a yearly salary before or after taxt payments? :D
Comment from : @malicksidibe3379

Worst case scenario is that I'd buy an old van or a small camper and pickup I need food, clothes, shelter and healthcare
Comment from : @TheFirstRealChewy

this plan should be the absolute bare minimum saved living like this will not allow you to escape the rat race of working a 9-5 job until you retire even after retiring; the pressures of finances will be a burden until you die you need to focus more on your ability to earn more not stick to a job that pays you a linear salary that barely goes up with inflation,
Comment from : @sunlee3555

I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point
Comment from : @NikitaMcLauren