How Much Do You Need to Save?

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Title	:	How Much Do You Need to Save?
Lasting	:	14.42
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Views	:	137 rb

As a former documentary film maker I see the quality of production Excellent work by all
Comment from : @BonkersAboutAlice

Fyi the fact sheet is behind an email request wall
Comment from : @DrPekulier

i have a 10k oh shit fund with my partner, 50k in vanguard s&p 500, and do 250 a month because thats all I can afford, am 34 with 200k left on mortgage, hope to retire when im 60 but i have no skills and me and my partner are both minimum wage, hope its enough
Comment from : @BodybuildingSteve

Baby long 😂
Comment from : @oliverd253

The music joke at 13:34 How did Damien keep a straight facebrBrilliant 😆brbrStart at 13:19 for the lay up
Comment from : @MikeLeighCooper

The Government won’t advertise the inadequacy of pension contributions as it is embarrassing for them They originally spoke about how it would increase employer contributions and despite private member bills passing, nothing has been done brbrIf more young people were aware that companies pay them 3 and paid the older staff 20-40 into pensions, they’d be raging
Comment from : @katherinewilliams9574

I started saving in my pension at 35 with few grand Now putt £400ish a month Thank you for your clear videos Subbed and loved
Comment from : @thisisretropete

Currently 22, making 28,000 Putting 333 in a Lisa and 500 in a stocks and shares isa a month As for my pension I’m in a very small company so only 70 atm and the company matches it When should I concider raising that amount to let’s say 300-400 knowing my company of 4 will suffer
Comment from : @exoticAlph76

Not outright saying the report is wrong, but it wont apply for a huge portion of the population It needs to be at least based on region to avoid the average values being off for lots of peoplebrbrPeople in my line of work get 30-50 more for the same role when living in London usually, which shows how far off the report can be
Comment from : @chr1srugby

30 percent of your net income
Comment from : @marton349

People have a lack of foresight and imagination, they just can't picture retirement until they reach retirement agebrbrThe Australian system of encouraging people to save more for retirement should be adopted
Comment from : @spursgoliath119

Shouldn't we focus on paying off debts before building savings?
Comment from : @Nickelodeon81

Damien, you’re like the Matt Armstrong of finances pal, thank you for sharing your knowledge it’s helping a lot of us 👏🏾🙏
Comment from : @malvoduma7826

Nobody is guaranteed tomorrow
Comment from : @paulwood5413

what is this calculator?
Comment from : @msa7719

Baby long killed me
Comment from : @hs1626

Those in their 20s will be really grateful later if they take this advice I didn't bother with pension savings until my 40s and, while I'm lucky enough to have an income which will let me build up a decent pot, it would have been a lot easier if I'd started saving 20 years earlier
Comment from : @BarrySW19

the answer dont live a champagne lifestyle on a lemonade wage
Comment from : @abdul-t6h9l

Baby long got me way better than I thought it would 😂
Comment from : @joelbradley7682

Sent this video to a few of my friends, we never talk about retirement, but you're right, we should start thinking about this sooner rather than later Thank man
Comment from : @DrTFW1

I did a simple cost average strategy into Bitcoin over 10 years I'm 35 now and I don't think I will have to work much longer
Comment from : @SAL-fs1mr

if you can save 90 of your salary you can become a millionaire even with a crappy wage
Comment from : @AVE_EVROPA

Retirement is cowardly Mammals don’t retire, they expire
Comment from : @piggerGg

😂😂😂😂 who's got money to save?
Comment from : @peacelilly75

Uhm yeah Those savings figures are nothing short of impossible Love the UK - thanks
Comment from : @EdGeyy

It's almost pointless to use £ / GBP in any documentation that you have highlighted due to the insecurity of inflation It becomes out of date on a monthly basisbrbrYou don't measure a wall that is 2m, and a few years later it's 23m We don't doubt the metric system It's a constant brbrYet, when it comes to finance, the most important metric in our lives We use fiat currency which is by definition debased on an annual basis by the state by money printing An insidious taxationbrbrOf course there is an alternative to this insidious tax But it can only be put in place "by some sly roundabout way introduce something that they can't stop" A quote from the the economist Friedrich Hayek in 1984brbrWe are lucky to now be living in the presence of this invention Something that can shield our wealth from our true enemy - The state Something that can also shield us from the biggest deflationary event in human history, and what the state is catastrophically unprepared for - AIbrbrI'm sure you know what that invention is Bitcoin
Comment from : @klezmorim1980

Just shared this to my FB, I think it's a really important video Eye-opening for me at least! Even noted the puns as an extra draw 😏👌🏻brWhy couldn't they just say 16??
Comment from : @_rainey

You should write your own book 0:21
Comment from : @clips4you23

Absolute class video
Comment from : @onedaysoon8480

I am at 24 already know that I will probably leave this country to a third world or at least to cheaper country with a Uk pension which should be by the time I retire if I ever will of course
Comment from : @seiwarriors

Imagine if you ever learn that the entire system is fraudulent, based only on debt & rigged to benefit the elites who control the govt
Comment from : @richardcollinson6364

Great video Damien
Comment from : @stephanem5125

Great video again 👍
Comment from : @stevecassie9592

This is nuts need a million to get something i can’t survive on with family
Comment from : @lodoss118

When looking at the recommended percentage that you should be putting in your pension it was based on the age you started contributing brThe only thing I couldn't figure out was whether the percentage included the employers contribution as well?🤔
Comment from : @TrickyMicky123456

7:46 this risk of drop in portfolio just before retirement applies to all of your portfolio, and it assumes that you will need all of your portfolio at the moment of retirement In reality, you need some of your portfolio each year/month over the course of another 20-30 years Plus you have a stable state pension It might be more interesting to leave the risk higher and draw parts from your portfolio as needed, while leaving the rest to grow
Comment from : @JaNouWatIkVind

How To Own The World by Andrew Craig - that was my gateway book HIGHLY recommend that one to change your mindset on money
Comment from : @milescroft

I gave a audible “fuck off” to that closing joke
Comment from : @KevinAntonini

Most people not saving enough but all driving flashy cars!! Will be lots of poor pensioners in the future
Comment from : @systemx4

Frankly I know I can't afford to get old so my plan has been the last 5 years bare in mind I am only 30 is to party myself to death at 50 spend it all on booze and chaos and have the best year and die happy before I am up the creek without a paddle so to speak
Comment from : @jackthagingerjesus

I think I'm doing ok financially I plan to invest £750 a month into VUSA, £333 per month to max my LISA and £100 per month for other savings or emergencies Once i own a house i will have to reduce my investments but i would like to take advantage of compounding for a few years while i still live with my parents with minimal bills hoping to have £80k in the next 8 years
Comment from : @georgejones9979

I am 44 and put away £2600 a month in pension savings I don’t till when I can do this so just doing it while I can…hoping to have £2m in pension before I retire
Comment from : @PortlyPour

Knowing that the vast majority of people are not saving enough, soon enough The reality is that most people need to increase risk as they approach retirement, not decrease it eg Put more into higher risk higher return investments otherwise they stand virtually zero chance of hitting an "affordable" retirement I know this is counter to common thinking, but clearly whatever we are doing now is not working so something has to change
Comment from : @PaulHardingham

Great video! I'm on my waybrbrbrbrThe accent😍
Comment from : @malufreedom

I think it would be helpful for people in future videos on pensions for you to point out that not every employer pays X, typically the bare minimum 3 on your whole salary, many don't pay against the first £6240 which really makes a difference Another great vid though, thanks
Comment from : @dom5673

Is precious metals market the best place to buy and are gold etfs a safe place to buy 😊
Comment from : @castleknock19

Hi @DamienTalksMoney I am 55 and recently unemployed I have built up a reasonable workplace pension pot but it's not enough to retire yetbrWhen I get another job, obviously I want to take full advantage of the new employers pension contributions, but what is the best way of going about it? Can I get them to add to my existing pot? Should I transfer my pot to their scheme? Should I keep my existing pot separate and open a new pot with them? Or should I open a SIPP?brI've not seen any videos from anyone that talks about anyone in a similar scenario so I would appreciate some advice, thank you
Comment from : @brassmonkey01

Brilliant once again, humour in money it’s great 👍🏻
Comment from : @jamesholmes4256

I'm not stressing about making the last 10-20 years of my life a bit more bearable I don't put a penny into my pension I'll take whatever support I can get and make it work, or die Also for me its about 40 years away, a lot can change in that time Regarding social security or how secure your pension really is anyway Some people will read this and think 'you'll regret it when you're older' i really, really wont
Comment from : @Kendoujo

I'm 26 and have been putting 20 combined into private pension using the 'age at start of saving as for a comfortable retirement' rule I am doing well but so many people older than me are doing much much worse I do feel like the country is in for a shock in about 20 years or so
Comment from : @InsanitiesBrother

WMT PROJECT!
Comment from : @MrFigeac

Some great jokes in that one… babble on… great finish!
Comment from : @simonspencer3108

Wow I love richest man in Babylon It feels under the radar but it’s so simple and the stories are great I feel like reread it at least once a year!
Comment from : @pavelm4484

S&P 500 is my retirement fund ☕️
Comment from : @noonecaresm8641

Just doom and gloom Why don’t you offer solutions in your videos, use yourself as an example and educate people using the STAR method Your viewership will surely increase brbrAlso the tax here is just such a thorn in everyone’s side I understand why Jimmy did it IYKYK
Comment from : @adamatraore9583

The Warren-Buffet-as-child riding back down the graph line as a slide is goldbrOh, and the video is interesting too!
Comment from : @stace3000

I want a good life, not a “good retirement” when I’m old and time is running out
Comment from : @danieldpa8484

Great video and information, thank you for making this!
Comment from : @ThunderousMellow

fancy doing a portfolio update? let's see what a successful finance youtuber is doing?
Comment from : @fiveplates

“It’s not black and white, it’s a little bit more David Gray than that” if I’d written that I’d have felt smug the entire rest of the day 😂
Comment from : @ThePixelDreams

Heh We like to live comfortably, but if you need/want to replace your kitchen and bathroom every 10 years you need better workers
Comment from : @jadziadax8658

No one righty trusts pensions - particularly as governments start to target them for tax and means testing Why save when you know you are building a honey pot for successive governments to target
Comment from : @jasonbuksh2958

I have always worked on the principle that if I work for 40 years, and are retired for 20, I need to save 30 of my income whilst workingbrbrSeems to be true after allbrbrWho'd have thought such simple maths would work out
Comment from : @charlesbridgford254

The government should increase the employer minimum from 3 to 5 This would more or less resolve most potential pension issues for people who are using the workplace pensions
Comment from : @NomadJRG

Like it Damien Very clever 😃👍 I'm going to pass onto my son
Comment from : @jimgott2405

In Australia we started compulsory retirement saving in the 90s with employer contributions progressively rising to 115 of your salary this year with tax incentives to add personal contributions
Comment from : @iFlyTheWorld

The way you phrase and knit sentences together is highly highly under appreciated ❤❤
Comment from : @zachdoyle5027

Exactly the same book that got me hooked!!!! Thanks for your knowledge Damo!!
Comment from : @craiglangton200

Very helpful, insightful and thought provoking Time to stop burying the head in the sand I reckon 😬
Comment from : @RichUK1980

Editing on this on is on point, nice work
Comment from : @dihydrogenmonoxide

"baby long" absolutely killed me, wasn't expecting that 🤣🤣
Comment from : @jonathanbutler1

Great video mate!! Keep up the good work, invaluable content
Comment from : @robertmillings282

700 pounds a month is hilarious suggestion for most who are currently saving half of that for a house deposit and fuck all for retirement The game has changed and saving your pennies for retirement is a huge con I advise to not do it Grandad worked his whole life and had a mad pension bit when he got poorly and died that money he worked so hard for to look after the missus and kids was just taken, she gets about 30 of it, the rest? Just gone into the coffers of some rich mf Its a scam
Comment from : @ThatGuyWierd

Hilarious that you skip over the fact these numbers dont even account for another 40 uears of inflation and global events Come on Minimum wage will be around 40 grand by the time you retire mate
Comment from : @ThatGuyWierd

Thanks for the information Damien, It truly is invaluable information for the youngsters and making them aware Keep up the good work son its brilliant👍🏿
Comment from : @mauraudersaif

God I love this channel
Comment from : @joshyt46

Yikes
Comment from : @FoxStar99

Please Damien, do a video about the recent decision taken by Nest of introducing 30 bonds on their Sharia fund, the only 100 equities fund that they offer, with no option to opt out of this change This decision could cost Nest pension holders millions in lost potential pension funds
Comment from : @Sara-wf1cu

Well put together and simple thoughts for us mere mortals
Comment from : @auldare7053

Baby long got me 😂
Comment from : @manicagency

After every boss
Comment from : @Alex-hongry

I have a stocks and shares isa that been trying to build up its on money box do you think it would maybe more beneficial to move to another investor ?
Comment from : @jonfreelove