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How Much Should You Have Saved by 40, 50 and 60?
One of the most common questions is "Am I behind?" Age-based savings benchmarks give a quick reference point. They are useful for a gut check, but they are not rules.
A widely cited set of benchmarks
One commonly used guideline suggests having a multiple of your annual salary saved by certain ages:
- About 1 times your salary by age 30
- About 3 times your salary by age 40
- About 6 times your salary by age 50
- About 8 times your salary by age 60
- About 10 times your salary by age 67
For example, someone earning $80,000 a year would aim for about $240,000 at 40, $480,000 at 50 and $640,000 at 60 under this guideline.
Why benchmarks are only rough
- They assume a typical pattern. They assume you start saving in your 20s, invest steadily and retire around 67.
- Your spending matters more than your salary. A person who needs less income in retirement needs less saved.
- Guaranteed income changes the picture. A pension or high Social Security benefit reduces what your savings must provide.
- Retirement age matters. Retiring at 60 needs far more than retiring at 70.
Better than a benchmark: your own number
- Estimate your monthly spending in retirement.
- Subtract guaranteed income such as Social Security.
- Multiply the remaining yearly amount by 25 as a first estimate.
- Use the calculator to see whether your current savings and contributions will reach that amount.
What if you are below the benchmark?
Do not panic. Benchmarks describe an ideal path; many people are behind them and still retire comfortably by saving more, working somewhat longer or spending less. Read our practical plan for catching up.
What if you are ahead?
Congratulations. Keep an eye on risk, fees and inflation, and consider whether you could retire earlier or spend more in retirement. The calculator's retirement age comparison table shows what happens if you retire at different ages.
Use the free calculator to see whether you are on track.Open the retirement calculator
This article is for general educational purposes and is not financial, tax or legal advice. Rules and limits change; confirm details with official sources or a qualified professional. See our Disclaimer.