Age-based savings benchmarks turn a vague worry into a quick gut-check: roughly how much should someone your age have put away? They’re rules of thumb, not destiny — but they’re a useful mile-marker, and this tool pairs them with a projection of what your actual pace becomes by retirement.
The headline above leads with your projected nest egg at retirement, so you can see not just where you stand today but where your current saving is heading.
The common benchmarks
A widely cited set of multiples (popularized by Fidelity) suggests having about 1× your annual salary saved by 30, 3× by 40, 6× by 50, 8× by 60, and 10× by 67. So someone earning $70,000 might aim for roughly $70,000 by 30 and around $700,000 by 67.
These multiples bake in assumptions about saving rate, returns, and Social Security. They’re a starting reference, not a personalized target — which is exactly why it’s worth projecting your own numbers rather than stopping at the benchmark.
Why your real target may differ
The benchmarks assume an average lifestyle and a typical Social Security benefit. If you plan to spend more, retire earlier, or expect less guaranteed income, your target is higher; if you’ll spend modestly with a solid pension, it’s lower. The calculator adjusts to your inputs instead of a one-size-fits-all multiple.
They also can’t see your trajectory. Being “behind” at 35 matters far less than the rate you’re saving now, because decades of compounding do the heavy lifting. The projection above shows where your current pace lands.
Catching up if you’re behind
If you’re under the benchmark for your age, focus on the levers that compound: increase your contribution rate, claim the full employer match, and consider an automatic annual bump so your saving rises with your income without you noticing.
Catch-up contributions also help — once you’re 50, the IRS lets you put extra into 401(k)s and IRAs each year. Small, consistent increases now beat a heroic effort later, because every year earlier is another year of growth.
Frequently asked questions
How much should I have saved for retirement by 30?
A common benchmark is about 1× your annual salary saved by age 30. On a $60,000 salary that’s roughly $60,000 — but it’s a guideline, and your saving rate from here matters far more than hitting it exactly.
How much should I have saved by 40, 50, and 60?
Widely cited multiples are about 3× salary by 40, 6× by 50, and 8× by 60, reaching 10× by 67. They assume average spending and Social Security; your real target depends on your plan.
What if I’m behind for my age?
Raise your contribution rate, capture every dollar of employer match, and use catch-up contributions after 50. Because compounding rewards time, increasing your pace now has an outsized effect on the final number.
Are these benchmarks accurate for everyone?
No — they’re averages. People who spend more or retire earlier need more; those with pensions or modest spending need less. Use the projection above to find your own target instead of relying on a multiple.
Worked examples
Each scenario below is computed by the same retirement engine that powers the interactive calculator above — no hand-typed numbers.
Age 30 benchmark check
$25,000 saved at 30, contributing $500/month, targeting a $55,000/year retirement at 65. A common benchmark is 1× salary by 30.
Projected nest egg
$1,188,181
Required (today's $)
$693,361
Funded ratio
61%
Monthly income
$3,108/mo
35 years of compounding from age 30 is extremely powerful — even a modest starting balance and contribution level can produce a large nest egg by 65.
Age 55 — final stretch review
$450,000 saved at 55, $2,000/month contribution, targeting $75,000/year spending at 67. This is where contribution catch-ups matter most.
Projected nest egg
$1,489,214
Required (today's $)
$867,012
Funded ratio
120%
Monthly income
$5,882/mo
At 55, 12 years of maximum contributions (IRS allows catch-up amounts after 50) can meaningfully close a savings gap that feels daunting.
More retirement questions
How much should I have saved for retirement at 40?
Common benchmarks suggest 3× your annual salary by age 40. On a $75,000 salary, that's $225,000. But this benchmark assumes a specific savings rate and retirement lifestyle. The most reliable answer is to run the numbers: enter your actual balance and monthly savings above, and the calculator will tell you whether you're on track for your specific spending target.
Is it too late to start saving for retirement at 50?
No — and catch-up contributions help. After age 50, the IRS allows an extra $7,500/year in a 401k and an extra $1,000/year in an IRA (as of 2024). Even with 15 years to retirement, consistent contributions at higher savings rates can close a meaningful gap. Working two or three years longer than planned is often the most efficient lever available in the final stretch.
What this calculator does — and does not — compute
Retirement projections involve inputs that come from government agencies, employers, and tax rules this tool cannot access. Here is exactly what you are providing versus what this calculator handles on its own.
- 1.Social Security is not calculated here. You enter your own monthly estimate in the “Other monthly income” field. This tool does not access your earnings record or apply Social Security benefit formulas. To get your actual personalized estimate, create a free account at ssa.gov/myaccount.
- 2.Required Minimum Distributions (RMDs) are not modeled. The drawdown projection shows balance depletion under your stated withdrawal rate, but it does not enforce IRS RMD schedules (which begin at age 73 for most accounts) or calculate RMD amounts from IRS life-expectancy tables. If RMDs apply to you, actual withdrawals may differ from the projection shown.
- 3.Pension income is an input you provide, not a computed output. If you have a defined-benefit pension, enter your expected monthly payment in “Other monthly income.” This tool does not compute pension formulas (FERS, CalPERS, military, state, or private plan formulas) and does not connect to any employer or government pension system.
- 4.Withdrawal tax treatment is simplified and illustrative. The projection shows gross withdrawals from your portfolio. It does not calculate federal or state income taxes on traditional 401k or IRA distributions, does not model Roth tax treatment, and does not account for RMD-driven bracket changes. Actual after-tax income will differ. For tax planning specific to your situation, consult a qualified tax professional.
- 5.Any depletion result is a projection, not a guarantee. “How long your money lasts” and similar outputs are calculated under your stated return rate, inflation rate, and spending assumptions. Actual outcomes depend on market performance, sequence of returns, unexpected expenses, and life events that cannot be modeled in advance. A projection is a planning tool, not a promise.
This calculator is for educational and planning purposes only. It does not constitute financial, tax, or investment advice.