How much should I have saved for retirement by my age?
David TalleyUpdated December 10, 2025
Quick Answer
Common benchmarks suggest having 1x your salary saved by 30, 3x by 40, 6x by 50, 8x by 60, and 10x by 67. These are rough guidelines—your actual target depends on your desired retirement lifestyle, expected Social Security, pension income, and when you plan to retire.
These "age-based" savings benchmarks are everywhere. Let me tell you what they actually mean—and what they miss.
The common benchmarks (based on salary):
- Age 30: 1x annual salary
- Age 40: 3x annual salary
- Age 50: 6x annual salary
- Age 60: 8x annual salary
- Age 67: 10-12x annual salary
Why these are useful:
They give you a rough checkpoint. If you're 50 with twice your salary saved, you know you need to accelerate savings. If you're ahead of schedule, you can breathe a bit.
Why these can be misleading:
- They assume you'll spend 70-80% of your pre-retirement income. Maybe you'll spend less. Maybe more.
- They don't account for Social Security differences
- They ignore pensions (increasingly rare, but if you have one, it changes everything)
- They assume "average" returns. Your actual experience will vary.
A better way to think about it:
Instead of salary multiples, think about what you'll actually spend. If you need $60,000/year in retirement and expect $25,000 from Social Security, you need to cover a $35,000 gap from savings. Using the 4% rule, that's roughly $875,000 in savings.
The catch-up conversation:
If you're behind these benchmarks, don't panic—but do act. Consider:
- Maxing out retirement contributions (including catch-up contributions after 50)
- Working a few years longer
- Adjusting retirement expectations
- Paying off debt to reduce retirement expenses
My take:
These benchmarks are better than no benchmarks, but they're not a plan. A real plan accounts for your specific situation—your income, spending, Social Security estimate, and goals.
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