“Am I saving enough?” is one of the most common money questions, and there is no single right answer. Still, benchmarks by age can give you a rough sense of direction. Treat them as a compass, not a grade.
A widely cited guideline
One popular set of benchmarks, published by the investment firm Fidelity, suggests having saved for retirement roughly:
- 1x your annual salary by age 30
- 3x by 40
- 6x by 50
- 8x by 60
- 10x by 67
For someone earning $50,000 a year, that would mean about $50,000 saved by 30, $150,000 by 40 and $300,000 by 50.
What these numbers assume
Benchmarks like these rest on assumptions: saving roughly 15% of income for most of your career, investing a meaningful share in stocks, retiring in your mid-to-late sixties, and wanting a retirement lifestyle similar to your working one. If any of those does not match your life, your personal target will be different.
- Plan to retire earlier? You will likely need more saved at each age.
- Expect a pension or other guaranteed income? You may need less from savings.
- Plan a simpler lifestyle in retirement? Your target can be lower.
If you are behind, you are not alone
Many people are behind these benchmarks, especially after years of student loans, low pay or unexpected costs. Falling short of a chart does not mean it is too late. What matters most is the trend from here.
- Raise your savings rate gradually. Increasing contributions by one percentage point each year, or every time you get a raise, is hard to notice in your paycheck but powerful over time.
- Capture any employer match. It is the fastest way to boost what goes in.
- Clear high-interest debt. Money spent on 20%+ interest cannot compound for you.
- Keep costs low. Low-fee, diversified investments let more of your return stay in your account.
Run your own numbers
Instead of comparing yourself with a chart, set your own target and work backward. Our savings goal calculator shows the monthly amount needed to reach a target by a certain date, and the compound interest calculator shows how your current balance and contributions could grow.
Frequently asked questions
Does home equity count toward these benchmarks?
Usually not. The benchmarks are about savings you can draw on for income. Home equity can matter to your overall picture, but it is harder to turn into retirement income.
Should I count my emergency fund?
No. An emergency fund has a different job: covering surprises now. Keep it separate from retirement savings.
What if I am ahead of the benchmarks?
Great. You might have room to retire earlier, spend more on other goals, or take less investment risk. Revisit your plan rather than assuming you are done.
Related guides: Roth vs. traditional retirement accounts and what is compound interest?