How Much Should You Have Saved for Retirement by Age?

Retirement savings benchmarks provide a useful reality check — are you on track, ahead of the curve, or falling behind? While everyone's situation differs, having age-based targets gives you a concrete goal to measure against.

The most widely cited benchmarks come from Fidelity's research, which assumes saving 15% of gross income starting at age 25, retiring at 67, and replacing roughly 45% of pre-retirement income from savings (Social Security covers the rest).

Retirement Savings Targets by Age

These multiples are based on your current annual gross salary:

• Age 25: Just starting — any amount saved is ahead of most peers
• Age 30: 1x annual salary (earning $60,000 → $60,000 saved)
• Age 35: 2x annual salary
• Age 40: 3x annual salary
• Age 45: 4x annual salary
• Age 50: 6x annual salary
• Age 55: 7x annual salary
• Age 60: 8x annual salary
• Age 67: 10x annual salary

Where Most Americans Actually Stand

The reality is sobering. According to Federal Reserve and Vanguard data updated through 2025:

• Ages 25–34: Median retirement savings of $33,000 (target: $60,000–$75,000)
• Ages 35–44: Median of $60,000 (target: $160,000–$240,000)
• Ages 45–54: Median of $100,000 (target: $320,000–$480,000)
• Ages 55–64: Median of $185,000 (target: $480,000–$640,000)
• Ages 65+: Median of $200,000 (target: $800,000+)

The 15% Savings Rate Target

How do you hit these benchmarks? The magic number is 15% of gross income saved annually, including any employer match. Starting at 25 with this rate and investing in a diversified portfolio (roughly 7% real return), you naturally hit the milestones above.

Here is how 15% breaks down for a $75,000 salary: $11,250/year or $937.50/month. If your employer matches 4% ($3,000), you only need to contribute 11% ($8,250) from your own paycheck — about $687/month or $317/biweekly.

Catch-Up Strategies If You Are Behind

If you are behind the benchmarks, do not despair. Here are proven strategies to close the gap:

• Increase savings rate by 1% annually: Going from 6% to 15% over 9 years is painless — you barely notice each bump
• Maximize catch-up contributions (age 50+): Extra $7,500 in 401(k) plus $1,000 in IRA for 2026
• SECURE 2.0 super catch-up (age 60–63): Extra $11,250 in 401(k) for 2026 — $34,250 total
• Delay Social Security to 70: Each year past FRA increases benefit by 8% — the best guaranteed return available
• Work 2–3 years longer: Adds contributions, extends compounding, and shortens retirement spending period
• Downsize housing: Frees up home equity and reduces living expenses simultaneously

Why These Benchmarks Are Just Guidelines

These targets assume a "standard" retirement. Your number may be higher or lower based on several factors: your expected Social Security benefit, whether you have a pension, your planned retirement age, your health and longevity expectations, where you plan to live, and your desired lifestyle.

Someone planning to retire at 55 needs significantly more than 10x salary. Someone with a generous pension and paid-off home might be comfortable with 6x. Use our Retirement Calculator to build a personalized target based on your actual income, expenses, and goals.