How Much Should You Have Saved for Retirement by Age?
Wondering if you're on track? These age-based benchmarks give you a quick gut check — and a plan if you're behind.
A popular rule of thumb (multiples of salary)
One widely cited set of targets ties your savings to your annual salary:
- By 30: ~1× your salary saved
- By 40: ~3× your salary
- By 50: ~6× your salary
- By 60: ~8× your salary
- By 67: ~10× your salary
These are guidelines, not gospel — your real number depends on your spending, not your salary. To find your target, use the FIRE calculator (annual spending × 25) and project your path on the retirement calculator.
Why starting early beats saving more
Thanks to compounding, money invested in your 20s does far more work than money invested in your 40s. Someone who invests $300/month from 25 often ends up ahead of someone investing $600/month from 40 — see it for yourself on the compound interest calculator.
If you're behind, here's how to catch up
- Grab the full 401(k) match — it's an instant return; check its value on the 401(k) calculator.
- Open a Roth IRA for tax-free growth — project it on the Roth IRA calculator.
- Raise your savings rate by 1% every year or with each raise — you'll barely feel it.
- Use catch-up contributions if you're 50+ (the IRS allows higher limits).
The bottom line
Benchmarks are motivating, but the only number that truly matters is your number based on the life you want. Calculate it, automate your contributions, and let time do the heavy lifting.
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Books to help you plan a confident retirement (affiliate links — see our disclosure):
- The Simple Path to Wealth — a clear plan for growing the nest egg that funds retirement.
- The Bogleheads' Guide to Retirement Planning — a thorough, practical retirement handbook.
- The Psychology of Money — the mindset that keeps long-term savers on track.
Frequently asked questions
How much should I have saved by my age?
A common benchmark is about 1× your salary by 30, 3× by 40, 6× by 50, and 8–10× by 67. They're guideposts, not hard rules.
What if I'm behind on retirement savings?
You have levers: raise your contribution rate, use catch-up contributions after 50, plan to work a couple of years longer, and make sure you're getting the full employer match.
Do these targets include my employer match?
Yes. They're based on your total balance, which includes your own contributions, any employer match, and investment growth.