How Much You Need To Have Invested (By Age)

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*None of the advice mentioned in the video is to be taken as financial or investment advice as it’s for entertainment purposes. Some links above include affiliate commissions/referrals.

[dallassukerkin]

These numbers are sobering and horrifying at the same time. At sixty I am nowhere near the required amounts, I barely hit the actual average. It really does show that as a society we really need these matters to be brought to the fore early on so people can be prepared.

[Bluearmy]

This is a great video and something ive been looking for, without much luck. Im doing ok at 47 but i felt at 40 i was well behind (gut feeling) so with promotions and an increase in wages I really focussed on my pension contributions since. Its made a huge difference im circa £180k at 47 and in a reasonable place looking at your video.

This is important for people to understand. I know you wrestled with it but people are better knowing they need to save more, than just ignoring it completely imo. Wish i’d known this at 25/30/35/40 instead of having clarity at 47

Great content…

[Bensimplelife]

This has made me realise I am on a much better track than thought. Started paying into pension at 16 when started apprenticeship, now 33 and the past 4 years I have been paying in 15% of my own money separate from the company match and I’m up at the 45 year region. Try and tell the grads we take on now to do the 15% from the off, they won’t ever miss it…. Hopefully they take it on board!

[FrankCastlesConscience]

Can be done for a lot less than £750k. Thats assuming an annuity till death essentially (ie you make it to your 90s or beyond). Whereas i’ll be aiming for a drawdown lasting for 20-25 years. If by some miracle i’m still alive then, i’ll sell off equity in my home or just live off state pension. £350-400k and live off 5% dividends is more than enough on that basis.

The other thing to bear in mind is you’ll be more active in your 60s maybe to mid 70s, but after that people tend to go on less holidays/be less active/buy less stuff, and be more sedentary. Hence you dont need the same income in your late 70s as you needed in your 60s. And if you have no kids why do you want to preserve a huge chunk of your principal to your death? To be the richest guy in the graveyard? Nah i’d rather progressively spend it in my 70s so that only a comparatively small amount is left in my mid 80s.

[gavjlewis]

I think one of the reasons why the pots are small is for many like myself there wasnt a pension option at work for me until 2012. So i spent 16 working years without a pension pot at all and now are only 11 years into it.

So im well above where a 29 year old should be based on 11 years of saving. But the problem is I am 45 so nowhere near where i need to be and no real way of catching up.

Its been made worse because i have had to reduce my salary sacrifice pension contribution because at my previous rate I would now drop below the new higher minimum wage threshold. So im essentially being discouraged from saving more into my pension.

[coderider]

8:51 worth noting if you want a good pension, go get a public sector job ! You might get 75% of what your worth but your pension will be x2-x3 of your private sector wage could get you. I earn 2x my twin but their pension is 2x mine. Doesn’t make sense.

[samul_music]

So grateful for your content pal. 26 years old, been figuring it all out for like 2 years and although I still have catching up to do I am on the right path, thank you.

[DavidAlexx]

This is actually so useful wow... Hats of to you Chris 🎉 For perpective, I'm a 19yo music artist working part time in fast food 😂 I'll just have to see how my 20s go really, music is such a strong passion of mine at the moment and I hope it will eventually pay the bills and help with my investment journey.

[RWAquariumPages]

although i'm canadian this is a great video and puts a great perspective on savings/investments as a general guideline, thanks for a great video!

[voice.of.reason]

Your videos are brilliant Chris! For disclosure I have about 146k total private pension at age 50. Plus a few years in final salary pensions. In the past 2 years I have lost about 25K of my pot in falling UK index linked bond ETF funds. BONDS ARE A LIABIILITY they will fall for years, some people think they will go up if the UK prints again but can they afford to with the debt so high and inflation so high.... trying to catch a falling knife with these bonds and my managed pension is heavy into them and asian markets which fell.

[voice.of.reason]

You should do a video on the pitfalls of putting most of your spare money into a pension that you may never see if you die before 65 or you get alzheimers so no meaningful retirement and the government take all of your house and pension to pay for your care. Sometimes you are better off putting it into an ISA then spending it while you are healthy enough to. In this UK world, you end up with the same money and care in old age as those who have never even worked let alone had a private pension

[Midland_Wolf_]

This advice was probably all relevant up until 2008, since then I’d say its unachievable for the majority….

[championsofeurope]

Another Well presented video. The average pension pot numbers demonstrated flatters! the median is even lower. Deciding the correct level of investment risk is a lottery. OK to be cautious but returns must at least match inflation.

[minimad]

Thanks Chris for putting me in the spotlight :) . keep up the good work on improving lives out here in youtube.

[okeydokeymon]

The model of fictional person here is nuts to me. He spends way too much on clothes per year for a pensioner, pointlessly replaces his entire kitchen/bathroom every 15 years even though the numbers suggest he'll be dead or broke after only 19 years, buys a new car every 5 years when he probably shouldn't even be driving for that final half of his retirement, and then the stingy git only spends 56 pounds per birthday present?! That's crazy!...Does sound a lot like my Dad though.

[andycoomber]

8% is probably far to high. 5% is more realistic. If you retire around 65, the sobering thought is that you realistically have around 20yrs tops before you croak or spend your days in a chair. Aim to be skint at 85. So inc state pension you want a further 20k a year. If you assume that investment returns cancel out inflation 400k should be your target. Having a huge pot past 85 will only fund your care. The state will pay for those who don't...

[Nosolutionsonlytradeoff]

Great video @Chris palmer thanks for this! I agree and I am planning that I will be single for prudence but it would be interesting to see the amounts you should have saved as a couple at each age as well! Thanks keep the videos coming

[kolifx]

Excellent video, by putting a rough number to every age everyone should be able to assess their position and take action. Subscription earned!

[hitomikagewaki]

I'm not a Brit(I'm an American) curious how you guys are doing. btw 107, 300 pounds is close to $136, 281 usd. Either way I need to save more.

[kelvinatorc]

Nice video. A bit of an eye opener to be honest. I'm on track but just! Thanks Chris.👀