How much should I have saved by 25 and when I am 28

amcluesent

After the boomers have stolen everything, you're daft to save anyways

Rupert_Bear

Not sure how much I should have saved by now. However I have sufficient now for me to leave work completely. I now only work two days a week and that is only because it breaks up my routine.

I dont particulary like th job dealing with complaints all day but it a good feeling if I feel fed up I can just leave. Its the first time in my life that no employer has power over me.

Remember that savings bring freedom!

vaporate

With divorce rates up, bf/gf splitting up over a stupid argument, and crazy rent prices ect I fail to see the big deal with living away from parents...?

Which ever floats your boat I guess. Not mine.

I obviously would never spend my life living at home as I would go mad but you know...

Moreover, thousands upon thousands of pounds by 25? LOL is this the 1% of the young population then? Without parental help and a country in the schit I fail to see how
that is possible.

PasturesNew

If it helps, I had £1,000 by the time I was 45.

ninky_2

quite a fun equation the authors of 'the millionaire next door' came up with. to be an average accumulator of wealth (aaw) you should have assets/ savings worth around your age divided by 10 and multiplied by your current annual income. so for you 2.5x12k =30k. an underachiever of wealth will have less than half this whilst a prodigious achiever of wealth will have more than double.

http://en.wikipedia.org/wiki/The_Millionaire_Next_Door

rictus123

Well im 18 and iv got about £1300....£1400 debt though. Id like to think il have at least a £10k "emergency fund" by the time im 21.

Sneezy

mitchaa wrote: »

33 as an average living with parents:rotfl:That surely means if someone like me who moved out at 17, must have a 49yr old counterpart living at home to average that 33 figure. Yeah right:rotfl:

I know of a 52 yo and a 54 yo who still live at home with parents :eek:
although the 52 yo moved out, bought a house ended up being broken into and suffered stress/nervous breakdown and had to move back (this was sometime in the early 90s).

I'm 23 and am still living at home although i am hoping to have moved out by next January!

Currently i saved just short of 50% of my wage (£450) each month - OP save as much as you can for as long as you can....

vaporate

ninky wrote: »

quite a fun equation the authors of 'the millionaire next door' came up with. to be an average accumulator of wealth (aaw) you should have assets/ savings worth around your age divided by 10 and multiplied by your current annual income. so for you 2.5x12k =30k. an underachiever of wealth will have less than half this whilst a prodigious achiever of wealth will have more than double.

http://en.wikipedia.org/wiki/The_Millionaire_Next_Door

I don't believe in that at all. So many variables get in the way.

Before I go, if this model was true, we would all be rich

jimbow25

mitchaa wrote: »

So 66% of men leave home before they are 20 and a massive 80% of women.

Kind of what I was saying

That's not what it says - it's asking a sample of 20-34 year olds what their living situation is currently, not what it was when they were all 20.

By the way it's already been said that the 'average person moves out at 34' quote was an error, let's not get too worked up over it!

aylithuk

Everyone is diffrent. My parents asked me to move out when I started collage because they couldn't afford a 3 bed house and it was cheaper for me to rent and pay my own way on my part time job. It can be done and at the grand age of 28 I've only got a 1k in savings because I use my savings for what they are meant for = rainy day problems and hicupps.