How much should you save by each age? 

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

Mate this is why I only watch you in terms of investing and money! You realise that all of us have different circumstances. I had my first job at 25 and I'm 30 now, live with my single mum who can't work and I've got less than £500 saved but most of that is MY fault as I didn't have the financial education which I do now thanks to people like you. So I'm 30 now and I'm starting again, sometimes I feel like I've wasted the last 5 years but we live and learn..

That clip of a man eating bricks makes my teeth hurt..

Oh my giddy giddy gosh, you are *crushing* this whole RU-vid thing ! One of the most uplifting videos I've ever watched on this topic. Keep up the good work lad!

People need to start talking about money in the UK. It's nothing to be ashamed of and you learn a lot in return. What a banger, Damo!

Wonderfully empathetic and spot on. Love humourous clips, and especially the way you don't waste our time with waffle but get straight to the point. Outstanding!

Honestly one of the best youtube videos I've watched. Your compassion, care and genuineness really comes through. We need more people with an attitude like yours on the internet Damien!

Great video! I am almost 60 and left my job which was draining the life out of me two years ago. I did NOT have the Fidelity box numbers or any of the other 'expert' savings amounts. What almost none of these experts discuss is how much you spend. They all say to 'maintain' your current lifestyle but looking at my parents who retired early as well, all their expenses have gone down. We budget to keep the household running and always extra for big family vacations. Budgeting and keeping track of spending will help so many people realize they can leave a job that is draining them and find something they really want to do. Keep up the great content!!

Fantastic video Damo. Comparison really is the thief of joy, and the thing is there’s ALWAYS going to be someone doing better and worse than you. If anything, take comfort in knowing this. Work on your own goals and do you. Like you say, compete with yourself and how you were performing last year - I believe that is key! And yes, you hear it a lot but it is absolutely true - no one will care more about your finances than YOU. 👏 👌 great job!

I only came across your channel recently but I'm really impressed by the quality of your content. Sensible, accessible financial content that I hope gets seen by a many people as possible. Keep it up, I expect to see your views and subscribers increase massively over time.

Fantastic video man! You’re killing it here on RU-vid 😎 Some very well needed points brought up, fair play 🤝

I started my investing journey as I have worked full time since the age of 16 and have no higher education so it became increasingly important for me to try and build some sort of wealth for the future, so started to take advantage of a very good works pension scheme and opened a S&S isa and also began to save. I am 23 this year and have 10k in my works pension, 2k in my S&S isa and over 7k in savings I am incredibly proud of how things are currently going and am just so glad that I picked up all of this knowledge when I did at a youngish age, now I cant advise my friends and everyone else my age enough on how important it is to do the same.

This is a great video mam and the start I feel is a much needed dose of reality that we all know I think but always good to hear again, and especially from a trusted platform like yourself. Great work dude

Great video Damo. I am one of those late starters you spoke about, turned 40 this year and only just started paying attention to this sort of stuff. And it is exactly as you said, watching RU-vid and reading these articles in the beginning did make me feel like I'd left it too late and my efforts were now pointless. But then I thought there is no cookie cutter, one size fits all template and started anyway. It's better to start late than not start at all. Just save as much as you can when you can. Keep up the good content buddy.

This is the channel I really needed to find! Just watched all of your videos and have found them immensely insightful and helpful!

Educational, inspirational & funny all in equal measure... You should have 10 times the followers you do bud, keep going...

This video has popped up for me loads because I watch quite a lot of finance videos, but I've been avoiding it because I hold the views that you shared. Happy to see that you're not giving out whatever numbers and taking into account the individual.

The most honest video I’ve seen in regards to finance. Thank you for this, I needed to hear this!

Damien thank you for being authentic. You are literally one of the only people that I have found making videos about the reality of money.

Absolutely fantastic video on this subject mate, keepin it real. Thank you ❤

This was really insightful. I've seen loads of same style videos and always thought they made no sense. First video I've seen which actually talks sense! Great video as always 🙂

This is so refreshing after the crap I have watched online about this 🙌🏻 This video is exactly why I have notifications on for your channel, thank you!

Refreshing to have sound advice on this, you're smashing it mate 🙌

This....is why I love your channel. Thanks mate!

Bang on about setting your own goals. And although saving is a long term thing, making small, incremental changes to my lifestyle helped me realize noticeable gains on a regular basis over the short term. Saving then became part of my lifestyle - a habit, which for me, is the key. Nice one.

I was one of those that watched the other videos and felt worried as I was miles off where I was supposed to be. I still have a lot of work to do as the big 40 looms but working on it. We should be teaching money and investing in schools. Thanks for a genuine and honest video.

You, young man, are an absolute god send. Love your rational, no bullshit presentations. Thankyou

Great video, mate.That acknowledgement that everyone of us is different, living with a unique set of circumstances, is gold and it help make people think for themselves. Orthodoxies are great in a perfect world, but how many of us have that experience? I didn't. I was doing ok for a late bloomer in my 50s, but with the economy in the sh*tter, I cashed-out of my S&S ISA and paid off the house and got my two-year emergency fund set aside. Now I'll be saving 75% of my take-home straight into the S&S ISA again - going balls out. Anyway, keep doing what you do, brother. You are absolutely essential viewing. Love it!

Definitely the best one of your videos I've watched to date. Thank you for the no nonsense presentation of facts. Brilliant.

Another blinder of a video there. Both honest and encouraging, cheers Damien, huge fan.

Great video ! Felt quite comforting that I’m at least doing “ok”. When everyone around me feels like they’re doing better. Sometimes we need the reminder that most of what we see out there is just made up!

Great work as always mate. Im a huge believer in this mindset of bettering yourself day by day, month by month etc, I couldn't agree any more! Im bored of the standard 95% of RU-vidrs churning out the same bollocks but adding a different thumbnail to entice you in. Another factual, accurate and entertaining piece of content from you once again.. Smashing it as always, have a great day bro!

Actually in awe of this video, such a game changer in the current trend of forcing numbers and statistics down people's throats. Nice one mate!

This is really good content, i like the way you point out the issues that exist with the information we get.

Damo mate, your videos hit right, every time! You deserved the like button in the first minute. Your content is original and clever. Another great one.

One of your best videos Damien, because it will hopefully get people thinking sooner than later about their finances and have a real positive impact for them. More people need to like and subscribe and watch your videos. I'll be introducing some of my younger family members to this channel in the hope they take notice and educate themselves about their financial future and so set their own goals. I'm in my 30s and have really ramped up my financial plan for my future but I wish I knew what I do now 10 years ago. Education is key and you're doing a great job getting the message out.

Mint video! The averages are so skewed and it's so important to stop comparing yourself and just do you. It's good to have set goals/amounts to aim for but anything is better than most looking at those stats!

Awesome video! As a young person who turned 18 this year this stuff was interesting and very informative.

Honestly man we needed this video so thanks Wasn’t ever a big fan of the fidelity study as I’m trying to retire earlier than average so it never meant anything to me But this vid was just so uplifting and needs to be heard by others

Awesome Damo! Screw these numbers! Set up your own goals and do not compare. Comparison is the thief of joy! I am going to put these up on the wall. I was listening, I am listening, And I will be listening to the guy on the internet who is making videos in his loft, who I never meet, yet! But this guy helped me a lot! Thanks for that Damo!

Such a refreshing take and I love the humor, thank you!

love the humor, this is brilliant. SHARING THIS!

Really enjoyed this one. Love it when realism and optimism can co-exist

Best video of yours I've watched to date. Well done! You should be proud.

Another brilliant video Damien! You are a genuine honest chap, and for that reason your channel will explode soon,, you can see me as an early investor (subscriber) to your Channel.

Just stumbled across your videos, this and the cliff climbing one. Great content. The key is you're in a race with yourself only. Don't compare yourself with anyone else. Secondly live below your means. Get a raise? Great! Don't upgrade your life, save the money! You'll see your savings grow and grow. Others might laugh at you living in a dump or driving a bomb but who cares. Delayed gratification and buying for cash is better financially and more rewarding emotionally than maxing out those credit cards for a new car to post on Instagram. Finally the best investment you can make is firstly eliminating debt (student loans, credit, mortgages) then maximise cash savings to then allocate to diversified assets such as property, stocks, bonds, cash and gold.

Damn, you have earned a sub. I like the way you break things down.

Great vid. Thanks! I am one of those 45 year olds you speak of 😂 didn't realise I was such a savings/investments age group cliche until today. Keep up the good work 👍

Thank you Damien again for all the hard work that you put n your videos they really inspire me.

Great useful and relevant video cheers love. covid and our house purchase put us back massively ive had to pause all investment which is crap we keep finding things that need doing in the house so it's gonna be a while before we can start again so this was a very reassuring xx

Amazing channel and what a genuine guy! Couldn’t have subscribed any faster 🚀

hey mate - 2nd video i watched today having just found / subbed, really like your perspective and uplifting / empowering tone, keep it up!!

Another well explained video using "expert" data and then a good dose of reality. As you say Damo the key thing is to do something and save what you can when you can. Life is for living and not constantly worrying about getting to 67 and having a pot of cash to live off until you check out. We have to hope we reach that point in life but can't not live for today too.

Love this! Finally some HONEST motivational financial advice 👏👏👏

Another great video 👍🏻 thank you for content and down to earth presentation.

From the day I subscribed to your channel I knew you're good at what you're doing.

You killed this topic dude!!!! Wise words from young man. Hopefully you will influence more people to think independently and don't follow trends like tunas.

Yes yes somebody on RU-vid talking a lot of sense. Never really thought about bloggers making fake videos saying they have more when they don’t, basically making you feel bad about your achievements and them feeling good about there fake achievement. Great video thanks keep on coming👏🏾👊🏽👍🏾💷

This video was abseloute class and such a good video that I can show friends, very underrated

Yes. This was needed Damien. Thank goodness you are talking about it. I remember, after the pandemic started, and everyone was suddenly advising to invest in this and that, it left many many older people feel like complete idiots, because they didn't start saving/investing enough early on. (I'm in my early 30's, and even I felt like it for a certain period of time). Many people have many choices/circumstances, like being married early, having kids early etc, which makes them happy. Not saying money isn't important, but some advice saying, you should remain single as much as possible, have kids later on, doesn't make sense to those whose happiness is more dependent on family etc rather than money. Just saying some people place more importance of money, some on family, some on dreams... All are valid.. no one is wrong, no one is right. Be content with whatever is made. Like they say in the gym (which you stated in the end), don't compare your body with other athletes in the gym, compare yourself to your past.. same applies to our personal finance. Cheers Damien. Keep up the good work. Hopefully can meet you when I come to the UK 🙂

Awesome video Damian. You come across so well and genuine in these videos.

I quoted that Fidelity research in one of my videos but I actually think your point here is spot on... you have to run your own race and that's the most important thing. Especially as it can be demotivating for many to use quite literally 'rule of thumb' 🙃 comparisons. Nice one man. Solid message and completely agree 👍

Great video with the key lesson to focus on yourself. As somebody with a Fidelity pension this is spot on. Make the most of pretax and company benefits and plot your own path. Can't wait for Damien to use the word discombobulate in his next video 😀

Another great video Damo and you are completely on point with your message. It is crazy how low the savings rate is in this country and you can very easily see pensions and retirement becoming the crisis of our generation. It’s through videos like this and better financial education in schools where people can become better informed around money, savings and investments.

Killin it with these vids man! 🔥💪

I'm over 40 and still quite new to all this. I'm just sad i could not do it earlier. But as you wisely said, I am the one setting my targets. You're wise. Your mom should be proud! :)

You absolutely nailed it! Well done mate

It's a scary subject. I remember sitting in Pret over 3 years ago researching this question at 30 years old. My advice to anyone who cares is just start, no matter how small the amount. Be ambitious and positive. Try and increase your income. Have your own goals and work steadily towards them because you'll look back as I am today and be proud and a bit shocked at how much you can achieve in a fairly short amount of time.

Thank you, great video!!!

Nice fresh perspective. Although, I would say sometimes people like to be given a framework and i e found Dave Ramsay gives a great one to start with, particularly if youre in debt. Keep up the good work.

Knew I’d agree with your conclusion Damo. Keep ‘em coming big man.

Super video mate, always set you own goals and youre in control. Super message mate

Really great approach, thx for sharing with us 🤙

Smashed it as always! Thanks mate

Damo absolutely slam dunking on some of the biggest finance channel names on RU-vid, effortlessly - best take on this topic I've seen

Wow! Amazing content. This is what we call CONTENT!! Cheers

You are different class mate … top notch content as always

Great video as always! Have you thought about live sessions to get people talking about money?

Bit late to the party on this one but another brilliant video. Consistently producing amazing content👏

Great advice Damo and loving your vids as always. Also good to see your little brother has started a YT channel over at Making Tax Simple 😄

Dude another great video. Just want to say you are absolutely smashing it atm. Super proud of you, have been following you since 2k subs. Onwards and upwards!

Excellent explanation Damo, can't fault you one bit. Certainly made me feel better.

Great video Damo, there is certainly no one size fits all in finances. In my day job I see people from both ends of the spectrum and if anythings for certain for a lot of people wealth certainly don't trickle down.

this is very uplifting video 👍🏻especially when times are going to get difficult again

Hey bro, my mate recommended your channel. Really good videos, both informational and funny 😄

Great video mate. Keep up the work!!

Really good video especially to those who are obsessed with what they see on social media of people living a ‘lavish’ life in their mid 20s

Just class mate - as a young 50 yr old i especially appreciated this! Cheers Damien 👍

We need more people like you. Fan from South Africa

Another impressive video showing your talent of finding and dissecting knowledge shines above the other investing RU-vidrs.

Came for advice... stayed for the pep talk

Enjoyed your take on this one, great vid!

What a great explanation of the difference betwen the mean and the median and why the median is more important in this context!

This was exactly the question in my mind recently. I had a late start in life because I had to be a carer for my sick mother, and I feel like I will never have my head above water. With a tiny pension, no home, and little savings I cannot even fathom being able to afford having a child one day.

Superb video, really enjoyed that one! Hope you’re well 👍

This will probably get buried in the deluge of comments since this is such an old video, but the sentence where you said "the only person you should be comparing yourself to is you last year" is a mantra I resonate with and personally have lived by for the past few years now. Too many times in the past I have fallen into the habit of comparing my career and earnings or net worth with my peers in the same age group and felt I was always behind. Or I would go onto social media and see people spending and living their 'best lives' and feel depressed when I'm living an ordinary and unspectacular one. I now focus on my own financial situation, what I can do to make it better every year and focus on building better habits that allow me to save and invest for the future, while also knowing that living in the present is important as well.

Great video man! Editing on point ❤️ new sub ✌🏻

Good advice. I've felt guilty that I'm not putting much into my vanguard these days due to having recently had a baby. This was the reality check I needed. 👍🏽

Great video. Makes so much sense to look at your own situation than comparing it to others. Its the world we live in though

Your content is so good, that you finally inspired me to start my own RU-vid channel, I’m doing it so far in Spanish to help out Spanish speaking people and to tell my story, so by the time I get more experience and knowledge hopefully I would be a 1% good as you 😊😊🤣