Is $200,000 a lot to have saved at 40 years old?

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Current Events » Is $200,000 a lot to have saved at 40 years old?
NintendoFanGirl
06/10/2025
05:44 AM
#1
Well?
UnfairRepresent
06/10/2025
05:47 AM
#2
In this economy?

Half the population has no savings
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WingsOfGood
06/10/2025
06:35 AM
#3
Nost people have none
ai123
06/10/2025
06:40 AM
#4
I think most people would consider it 'a lot'.

Especially if you also have other assets, like a house and a car.
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Glob
06/10/2025
06:55 AM
#5
Its all relative.

Its a lot more than some people have and a lot less than others.

As ai123 stated, it also depends on what you have alongside it.
Cuticrusader09
06/10/2025
07:08 AM
#6
Is that total of all assets or just a retirement account?
pinky0926
06/10/2025
07:11 AM
#7
At 40 there are basically two kinds of people - some with a million dollars in savings and assets, and people who have 3k or less in the bank
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WingsOfGood
06/10/2025
07:44 AM
#8
pinky0926 posted...
At 40 there are basically two kinds of people - some with a million dollars in savings and assets, and people who have 3k or less in the bank

False
Trumpo
06/10/2025
08:48 AM
#9
No, should be 2-3x that
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Goldenguy
06/10/2025
08:51 AM
#10
I chose yes because 200k is a good bit higher than my current 401k/pension balance, and a lot of people our age don't have that.
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SlamVook
06/10/2025
08:53 AM
#11
Yeah, considering many people have no savings at all
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Thanatos_the_Great
06/10/2025
08:55 AM
#12
If that's just cash savings and doesn't include your pension pot, it's a fortune. If it does include a pension, it's still a lot.
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bluezero
06/10/2025
09:09 AM
#14
Everyone on CE had that amount saved when they were 23.
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ReturnOfDevsman
06/10/2025
09:17 AM
#15
I'm afraid not. Not if the goal is to retire, which it should be. If you're saving it, as in putting it in a piggy bank/savings account (these are actually the same thing), that's your problem. These things are for cars and house down payments, not for lifelong goals.
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justaguy3492
06/10/2025
09:19 AM
#16
In a savings account? Yes that's a lot. Total net worth? Not really that much, but obviously could be worse.
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Newave
06/10/2025
09:25 AM
#17
at 40 I had saved up, with hard work and managing my money as tightly as humanly possible, with no drinking, no smoking, no car, small cheap apartment and only buying things secondhand, on sale or the cheapest alternatives available, to have roughly $30,000 to my name

having almost ten times that at the same age is nothing short of a literal fortune, exclusively extremely wealthy people have that kind of money at that age
a vast majority will never get anywhere near that amount even if they could live multiple life times
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KaZooo
06/10/2025
09:36 AM
#19
Outside of a 401k or IRA, yes that's a lot to have on hand. I'm wishing to even just have $100k.
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Glob
06/10/2025
09:37 AM
#20
Newave posted...
at 40 I had saved up, with hard work and managing my money as tightly as humanly possible, with no drinking, no smoking, no car, small cheap apartment and only buying things secondhand, on sale or the cheapest alternatives available, to have roughly $30,000 to my name

having almost ten times that at the same age is nothing short of a literal fortune, exclusively extremely wealthy people have that kind of money at that age
a vast majority will never get anywhere near that amount even if they could live multiple life times

Im not denying that theres plenty of people who would struggle to ever get there, but I think youre laying it on a bit thick.

200K is definitely a sum that you could feasibly save by the age of 40 if youre a decent earner and watch your spending. Being a decent earner is not the same as being extremely wealthy.
whitelytning
06/10/2025
09:57 AM
#21
Kind of depends on your annual salary and retirement goals. If you make $50k/year and live a simple life its pretty good. If you are making $250k/year and expect to retire with a boat and country club type thing its not good.
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vycebrand2
06/12/2025
11:37 AM
#22
Cash in bank at 40? Most people yes.
Assets? Not really if they have a decent job.

My circumstances is different than most.
Our gross for the years 2005-2008 was a million each year. So take 30% off the top then split that in half. Most years it was around 120-150k.
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Prismsblade
06/12/2025
11:50 AM
#23
Your question is a little too vague. Saved in what? Retirement? Cash? Total net worth?

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realnifty1
06/12/2025
12:14 PM
#24
Good start, but not really, especially if they do manage to gut Social Security, and in all my retirement planning I expect nothing from SS.

https://www.visualcapitalist.com/mapped-annual-retirement-costs-by-state/

Even if those numbers are a little high, in 20+ years when you retire they are likely to be higher. So 60k a year by 4% rule would mean you would need 1.5 million.

So be happy that you are ahead of a lot of people, but if you hope to stop working someday and not have to be worried about making ends meet constantly, there is significant work to do.
Current Events » Is $200,000 a lot to have saved at 40 years old?