Most people have no idea if their retirement savings are on track. Here are concrete benchmarks by age so you know exactly where you stand.
The general rule of thumb
Fidelity’s widely cited guideline suggests having saved these multiples of your annual salary by each age:
- By age 30: 1x your salary
- By age 35: 2x your salary
- By age 40: 3x your salary
- By age 45: 4x your salary
- By age 50: 6x your salary
- By age 55: 7x your salary
- By age 60: 8x your salary
- By age 67: 10x your salary
So if you earn $60,000 and you’re 40, the benchmark says you should have $180,000 saved for retirement across all accounts.
In dollar terms
- Age 25: $10,000–$15,000 (starting out)
- Age 30: $45,000–$75,000
- Age 35: $100,000–$170,000
- Age 40: $180,000–$300,000
- Age 50: $360,000–$600,000
What if you’re behind
Most people are behind — you’re not alone and it’s not too late. Here’s how to accelerate:
- Increase your contribution rate by 1% every 6 months until you hit 15% of income
- Always contribute at least enough to capture your full employer match — that’s an instant 50–100% return
- If you’re over 50, take advantage of catch-up contributions — the IRS allows an extra $7,500/year above the standard limit
- Open a Roth IRA in addition to your 401k for extra tax-advantaged space ($7,000/year limit in 2025)
The most important thing
Time in the market beats timing the market. A 25-year-old who invests $200/month until 65 at 7% average returns ends up with $525,000. A 35-year-old doing the same thing ends up with $243,000. Starting earlier is worth more than investing more later. If you’re in your 20s, the single best financial move you can make right now is starting — even if it’s $50/month.