Key takeaway: Financial experts recommend saving 1x your salary by 30, 3x by 40, 6x by 50, and 8x by 60. But your actual target depends on your lifestyle and retirement goals.
📋 Table of Contents
Retirement Savings Benchmarks by Age
These benchmarks, popularized by Fidelity, give you a target to aim for based on your current salary:
| Age | Savings Target | Example ($75K Salary) |
|---|---|---|
| 30 | 1x salary | $75,000 |
| 35 | 2x salary | $150,000 |
| 40 | 3x salary | $225,000 |
| 45 | 4x salary | $300,000 |
| 50 | 6x salary | $450,000 |
| 55 | 7x salary | $525,000 |
| 60 | 8x salary | $600,000 |
| 67 | 10x salary | $750,000 |
💡 Pro tip: These are general guidelines. Your actual number depends on when you plan to retire, your expected expenses, Social Security, and other income sources.
How Much to Save for Retirement by 30
By age 30, aim to have 1x your annual salary saved. This might seem aggressive if you're just starting out, but compound interest works best when you start early.
If You're Behind at 30:
- Max out your 401(k) employer match (free money!)
- Aim to save 15% of your income
- Consider a Roth IRA for tax-free growth
- Automate your contributions
How Much to Save for Retirement by 40
By 40, target 3x your annual salary. Your 30s are often peak earning years with increasing responsibilities.
Strategies for Your 40s:
- Review and rebalance your portfolio annually
- Consider paying down high-interest debt
- Increase contributions with every raise
- Explore catch-up contributions if you're behind
How Much to Save for Retirement by 50
At 50, aim for 6x your salary. You're now eligible for catch-up contributions in 401(k) and IRA accounts.
📈 2026 Catch-Up Limits: Additional $7,500 for 401(k) and $1,000 for IRA for ages 50+
How Much to Save for Retirement by 60
Target 8x your salary by 60. You're approaching the finish line!
- Consider shifting to more conservative investments
- Calculate your Social Security benefits
- Plan your withdrawal strategy
- Review healthcare costs (Medicare starts at 65)
Catching Up If You're Behind
Don't panic if you're not hitting these benchmarks. Here's how to catch up:
- Increase your savings rate by 1% every year
- Maximize employer match - it's a 100% return
- Use catch-up contributions after 50
- Consider working 1-2 years longer - it makes a huge difference
- Pay off high-interest debt first