How much savings do you have and what age are you?

CBear1993

A Celtic tiger plumber or joiner! Haha. Good man. Health to enjoy

vmware

No worked 2 jobs when I left school and got into IT


started work at 13 farming and gardening!!

CBear1993

What are you at in IT? Software eng? Multinational no doubt or contracting ?

Go Home Paddy Cat!!

vmware wrote: »

Oh and forgot to mention, no leaving cert or college ! Just shows you can make it with out a big education.
Net Worth €1000000 approx

You forget to mention 'combined' (as in a couple) there I think when referring to net worth. Also, I find it hard to believe you can get a job in tech without a leaving cert or any qualifications - but fair play!

James Bond Junior

Go Home Paddy Cat!! wrote: »

You forget to mention 'combined' (as in a couple) there I think when referring to net worth. Also, I find it hard to believe you can get a job in tech without a leaving cert or any qualifications - but fair play!

Finally somebody calling out a 1st poster spouting something rather unbelievable. Schools are back according to the Gov soon.

vmware

James Bond Junior wrote: »

Finally somebody calling out a 1st poster spouting something rather unbelievable. Schools are back according to the Gov soon.

I work as an IT Contractor, and do alot of foxers. Server installs for SME and the like

DellyBelly

I know the government are trying to get people to spend instead of save but in these uncertain times people seem to be frugal. I would say the average saving a person has mid 30's is approx 50K - 65K sitting in their account. If we could people to spend a prercentage of that on staycations it would really help the economy...

CBear1993

DellyBelly wrote: »

I know the government are trying to get people to spend instead of save but in these uncertain times people seem to be frugal. I would say the average saving a person has mid 30's is approx 50K - 65K sitting in their account. If we could people to spend a prercentage of that on staycations it would really help the economy...

Who kidnapped DellyBelly and broke into his account? Release him at once

Top chief

we holiday alot and work hard between holidays, usually 2-3 hols a year ,




Are 2 - 3 holidays a year not normal?
I normally go on 4
And and few weekends away along the year.

PHG

vmware wrote: »

just turned 40 this year.

• 2500sq ft Detached house on .8 acre site with large double garage 1000sq ft Valued recently at 480k
• *** Mortgage free ***
• We own both cars, 14 reg A5 and 16 Reg Volvo
• 380k cash in Bank
• Combined pensions of 180k
• 100k in various investments
• No loans or debt


we holiday alot and work hard between holidays, usually 2-3 hols a year , we are lucky we both have well paying jobs in finance and IT.

First of all, well done on your current net worth.

I am curious though, is any of the above from inheritance, or help with deposit, live rent free with parents/ in laws until you bought the house?


Like others, I have lived in 4 countries and travelled to over 30 and don't regret a bit of it or the cost. Wouldn't have the career I have if I didn't and doing well and will be dead long enough.

Referring to an earlier poster, I do think living with your parents until mid/late twenties is being a bit tight (unless genuine reason) as there is no way you can get your independence from your bedroom and find it quite odd. There seems to be a generation of round dodgers coming up behind.

That said, I love working from my family home every few months and seeing my parents and friends (for about 10 days) then I'm done and happy to be back to my own place. The opportunity cost of living away from home and learning about living, yourself and how to manage dealing with others is huge and hopefully I'll never be in the situation where I would have to move home.

vmware

yes sorry I did live with my parent untill I got Married, and also had a company car for 15 years, also stayed away in hotel quite alot 4-5 night a week so all on expenses.



having a company car saved me a fortune. doing high miles so BIK was peanuts.



So got to save loads, I worked on call and got quite a few call out. Example, might have to work on a Sunday and travel to a customers site maybe in Galway / Dublin from Cork



Then do 4-5 hours depending on the issue and back home



so on a bad Sunday you could clock up 14 hr @ double time !! 28 hrs of standard pay.


no inheritance to date.

PHG wrote: »

First of all, well done on your current net worth.

I am curious though, is any of the above from inheritance, or help with deposit, live rent free with parents/ in laws until you bought the house?


Like others, I have lived in 4 countries and travelled to over 30 and don't regret a bit of it or the cost. Wouldn't have the career I have if I didn't and doing well and will be dead long enough.

Referring to an earlier poster, I do think living with your parents until mid/late twenties is being a bit tight (unless genuine reason) as there is no way you can get your independence from your bedroom and find it quite odd. There seems to be a generation of round dodgers coming up behind.

That said, I love working from my family home every few months and seeing my parents and friends (for about 10 days) then I'm done and happy to be back to my own place. The opportunity cost of living away from home and learning about living, yourself and how to manage dealing with others is huge and hopefully I'll never be in the situation where I would have to move home.

blade1

I don't know how much I have.
Have a house,a fleet of cars, motorbikes,a yacht and a helicopter.
Probably wouldn't even notice if a couple of million went missing.

Donald Trump

vmware wrote: »

just turned 40 this year.

• 2500sq ft Detached house on .8 acre site with large double garage 1000sq ft Valued recently at 480k
• *** Mortgage free ***
• We own both cars, 14 reg A5 and 16 Reg Volvo
• 380k cash in Bank
• Combined pensions of 180k
• 100k in various investments
• No loans or debt


we holiday alot and work hard between holidays, usually 2-3 hols a year , we are lucky we both have well paying jobs in finance and IT.

That's alright. But not exactly an outlier. It might be given no qualifications for yourself but you haven't mentioned your other half's.



No inheritance but did you build the house or buy it? If you got given a site (or given one for cheap) and built a house on it, then that's a big load off your back that the average person doesn't get. Saving interest of 3-4% on an additional 200k on your mortgage for 10-15 years would help the cash in the bank position a lot.

Go Home Paddy Cat!!

PHG wrote: »

Referring to an earlier poster, I do think living with your parents until mid/late twenties is being a bit tight (unless genuine reason) as there is no way you can get your independence from your bedroom and find it quite odd. There seems to be a generation of round dodgers coming up behind.

I agree with everything you said except the above which is a vacuous statement to be honest.

Said 'round-dodgers':
- have seen the worst financial crisis since the great depression
- have been saddled with national debt (through no fault of their own)
- have seen the worst housing crisis this country has ever seen
- are living through a global pandemic
- are now facing another possible recession of an inordinate magnitude

... all within a 12 year period.

SusieBlue

Go Home Paddy Cat!! wrote: »

I agree with everything you said except the above which is a vacuous statement to be honest.

Said 'round-dodgers':
- have seen the worst financial crisis since the great depression
- have been saddled with national debt (through no fault of their own)
- have seen the worst housing crisis this country has ever seen
- are living through a global pandemic
- are now facing another possible recession of an inordinate magnitude

... all within a 12 year period.

This a million times over. The housing crisis is repeatedly down played, do people really think people in their late 20’s are happily living the high life out of their mams box room? Most would much rather have their own space, freedom and independence.

After spending years paying extortionate rent I’m now back home to save for a mortgage.
On my current salary I can’t get approval for a mortgage that would could cost me €650 a month, yet I’d be expected to pay €700 to rent a room in a house share or €1800 to rent a house.
That’s absolutely bonkers and completely illogical, to be fair.
If there was plentiful housing options people would say I was living beyond my means & being financially irresponsible if I was choosing to spend €1800 a month on rent when it would take up such a huge portion of my income but I and many others would have no other option if I was to rent.

It’s a vicious circle that many get stuck in. Single people are all but priced out in any of the big cities, unless they’re earning the big bucks.
My dad was a labourer and my mam was a stay at home mother when I was born in the early 90’s and they could afford to buy a modest but decent home on that salary. Now it takes two educated highly qualified people with high paying jobs to even have that option.
There’s something seriously wrong about that.

Donald Trump

Donald Trump wrote: »

That's alright. But not exactly an outlier. It might be given no qualifications for yourself but you haven't mentioned your other half's.



No inheritance but did you build the house or buy it? If you got given a site (or given one for cheap) and built a house on it, then that's a big load off your back that the average person doesn't get. Saving interest of 3-4% on an additional 200k on your mortgage for 10-15 years would help the cash in the bank position a lot.

People get their money together in different ways I don’t get why there are some posters who want a big astrix beside nearly every poster who has good savings as they did go from living on the street from 15 to having good savings now.

Living at home, inheritance, free sites etc etc are just as legitimate a way to build wealth as having a good job. Fact is people who inherit etc are liking doing well too as they have been brought up to do well by their parents.

SusieBlue

Bradley Wide Snotty wrote: »

People get their money together in different ways I don’t get why there are some posters who want a big astrix beside nearly every poster who has good savings as they did go from living on the street from 15 to having good savings now.

Living at home, inheritance, free sites etc etc are just as legitimate a way to build wealth as having a good job. Fact is people who inherit etc are liking doing well too as they have been brought up to do well by their parents.

Someone who inherits money or is given free land to build a house is at a distinct advantage to someone who doesn’t inherit anything and who has to buy their own site. That’s why it’s relevant to the discussion.
It’s easier for someone to ‘do well’ if they’re given the kind of head start that most others could only dream of.

The Mighty Quinn

Bradley Wide Snotty wrote: »

People get their money together in different ways I don’t get why there are some posters who want a big astrix beside nearly every poster who has good savings as they did go from living on the street from 15 to having good savings now.

Living at home, inheritance, free sites etc etc are just as legitimate a way to build wealth as having a good job. Fact is people who inherit etc are liking doing well too as they have been brought up to do well by their parents.

I don't often agree with you Nox, but I do here.

I do not come from money, or land, or assets, nor do I have particularly much now in my mid 30s, but I'm paying a mortgage on a house so someday it is likely that a house will be mine at least.

I see people my age with twice, three times, five times what I have, and at times comparison is inevitable. Some of these people are there because of inheritance, or great paying jobs, or financial prudence, or blind luck, or won the lotto, or were given it all, but so what.

It is only envy to be a little sore or resentful at times, but that's silly and unfair on those who have more.

I do at times get pangs of "I want that, I wish I had that...", but I don't, through circumstances x, y and z, some my own fault some I got landed with. This is life.

The Mighty Quinn

SusieBlue wrote: »

Someone who inherits money or is given free land to build a house is at a distinct advantage to someone who doesn’t inherit anything and who has to buy their own site. That’s why it’s relevant to the discussion.
It’s easier for someone to ‘do well’ if they’re given the kind of head start that most others could only dream of.

I think he'd acknowledge that it's a distinct advantage. It clearly is. He's just saying so what if that's how somebody gets wealthy, it's as valid a way as any other.

Rimmy

Just turned 29, 25K in savings.Living back now with the parents after renting a room with friends since from college.

Gonna try save 1,800 a month for next two years which should bring me up to around 60K.

For me personally this seems the right thing to do.

Parents are well off and don't have to pay rent or even food or bills as they are delighted to have me back and know I'm saving for a mortgage. My parents are pretty well off.

Houses in my area are going for 200K but moving home and having money behind me seems the right thing to do.

Feria40

Aged 35 with €45k in savings. Happy enough and adding about €1.5k a month handily enough after paying mortgage

Kamu

Rimmy wrote: »

Just turned 29, 25K in savings.Living back now with the parents after renting a room with friends since from college.

Gonna try save 1,800 a month for next two years which should bring me up to around 60K.

For me personally this seems the right thing to do.

Parents are well off and don't have to pay rent or even food or bills as they are delighted to have me back and know I'm saving for a mortgage. My parents are pretty well off.

Houses in my area are going for 200K but moving home and having money behind me seems the right thing to do.

Absolutely the right thing to do.

Most people forget this, but it was very common back in the day for one child to remain at home for their entire life's; until the parents passed away as a kind of career.

My aunt lived with my grandmother until gran died. I've three cousin's living with their parents; two are married with children.

I've a neighbour who had their family, parents, aunt and uncle all in the one house.

I'd think you'd be hard pressed not to find a family that didn't have at least one member of the family living with another.

CBear1993

I envy people living at home. Fair play to them.
I haven’t lived at home now in 4/5 years and I’m 27 (shortly). The rent I’ve paid in oz, America, and Dublin for a while would make you cry.

Thankfully I’m on the property ladder now.

But at the same time if I was handed a house in my home county in the north tomorrow morning I’d probably rent it out. I’d live at home again for a short time to save if I had to but I couldn’t see myself there to be honest.

The opportunities in Dublin and pay are like no other, even in the outward counties of Kildare and Meath etc. I know this varies with profession .

It would be very depressing to have to move home to a low populated, massively rural area with low pay and one shop and pub.
Maybe my perspective will change when I’m older and have children!! Would not bring up children in Dublin city on that matter though.

Off topic; but fair play to those living in home. Don’t feel like you have to move into your own place a rent a box in a ****ty house or apartment because everyone else is. Especially if you’re coming home every weekend anyway and you love home.

I’ve only got my savings act together in the last year or so and I can see why people in their 30s have these savings now.

I will say though : in Dublin there is a sweet spot with salary. I wasn’t really comfortable until I passed the €50K mark or could make savings.

Being self employed is also better every day of the week than PAYe. The tax we pay is rotten

antimatterx

CBear1993 wrote: »

I envy people living at home. Fair play to them.
I haven’t lived at home now in 4/5 years and I’m 27 (shortly). The rent I’ve paid in oz, America, and Dublin for a while would make you cry.

Thankfully I’m on the property ladder now.

But at the same time if I was handed a house in my home county in the north tomorrow morning I’d probably rent it out. I’d live at home again for a short time to save if I had to but I couldn’t see myself there to be honest.

The opportunities in Dublin and pay are like no other, even in the outward counties of Kildare and Meath etc. I know this varies with profession .

It would be very depressing to have to move home to a low populated, massively rural area with low pay and one shop and pub.
Maybe my perspective will change when I’m older and have children!! Would not bring up children in Dublin city on that matter though.

Off topic; but fair play to those living in home. Don’t feel like you have to move into your own place a rent a box in a ****ty house or apartment because everyone else is. Especially if you’re coming home every weekend anyway and you love home.

I’ve only got my savings act together in the last year or so and I can see why people in their 30s have these savings now.

I will say though : in Dublin there is a sweet spot with salary. I wasn’t really comfortable until I passed the €50K mark or could make savings.

Being self employed is also better every day of the week than PAYe. The tax we pay is rotten

I'm living at home, luckily in Dublin. I'm still young I think (I'm 24), hopefully I can buy an apartment in Dublin in a year or two.


I have savings of 23K, adding about 2K a month. I think it's worth it, as I get on with my family and don't want to rent.

CBear1993

antimatterx wrote: »

I'm living at home, luckily in Dublin. I'm still young I think (I'm 24), hopefully I can buy an apartment in Dublin in a year or two.


I have savings of 23K, adding about 2K a month. I think it's worth it, as I get on with my family and don't want to rent.

That’s unreal. You’re in a very fortunate position. And must be on some money at 24!!

I’d love to change to IT because that seems to be where it’s at. I will probably hit a ceiling soon on the cost side of construction. Plus it’s a crap industry.

antimatterx

CBear1993 wrote: »

That’s unreal. You’re in a very fortunate position. And must be on some money at 24!!

I’d love to change to IT because that seems to be where it’s at. I will probably hit a ceiling soon on the cost side of construction. Plus it’s a crap industry.

If I'm honest, I'm on **** money. I make 32K a year. But I save a lot of what I earn. I'm planning a move soon as I could get 50K easy. Tech is class, I just need to jump soon.

I'm so lucky to have the parents I have. They are giving me a great start in life.

Top chief

antimatterx wrote: »

I'm living at home, luckily in Dublin. I'm still young I think (I'm 24), hopefully I can buy an apartment in Dublin in a year or two.


I have savings of 23K, adding about 2K a month. I think it's worth it, as I get on with my family and don't want to rent.

Nice work well done.

CBear1993

antimatterx wrote: »

If I'm honest, I'm on **** money. I make 32K a year. But I save a lot of what I earn. I'm planning a move soon as I could get 50K easy. Tech is class, I just need to jump soon.

I'm so lucky to have the parents I have. They are giving me a great start in life.

You’re doing great. I’m on double that and I only save 1K per month but I pay for my apartment in Dublin by myself. Although I should still save more

Top chief

I will say though : in Dublin there is a sweet spot with salary. I wasn’t really comfortable until I passed the €50K mark or could make savings.

Being self employed is also better every day of the week than PAYe. The tax we pay is rotten[/quote]


Cash is king ,

Lucky I can live at home while i save worked abroad for awhile .

Only started to really save last year saved just over 35k last year

LawBoy2018

Wow, I'm gonna be poor forever!! Lol. Congrats to the big savers in your mid-twenties, you're playing a blinder! None of my friends could even dream of getting on the property ladder atm, we can barely afford rent.. Mad props to the lads above.

I'm beginning to wonder whether dedicating the last 6 years of my life to education/professional exams was really worth it tbh, I am completely broke + still have quite a bit to go careerwise before I'm making the big bucks. Thankfully I've sorted a job in a very decent firm though so hopefully things will work out in the end.

To the young guys with the massive savings, would you say you go out often? Did you go on J1s while in college, or that sort of thing? My master's blew a massive 10.5K hole in my savings + completely wiped me out financially. I still have roughly 2K to pay back..