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💰 Money
Am I saving enough for retirement?
Compare your retirement savings to age-specific benchmarks.
$
401(k) + IRA + pension + other retirement accounts
$
Used for the salary-multiple benchmark
Am I saving enough for retirement?
The general rule: save 1x your salary by 30, 3x by 40, 6x by 50, 8x by 60. But most people fall far short of these targets.
Median retirement savings by age (Vanguard/Fidelity 2023)
- Under 30: Median $13,000 | Mean $30,000
- 30–39: Median $38,000 | Mean $93,000
- 40–49: Median $93,000 | Mean $220,000
- 50–59: Median $170,000 | Mean $400,000
- 60–69: Median $195,000 | Mean $465,000
Fidelity salary-multiple guideline
- By age 30: 1x annual salary saved
- By age 40: 3x annual salary
- By age 50: 6x annual salary
- By age 60: 8x annual salary
- By age 67: 10x annual salary
Why the gap between median and mean is huge
A small number of people with very high balances pull the average (mean) way up. The median is what "normal" looks like — and it shows most people are significantly behind the recommended targets.
The most important factor is starting early. Even $100/month from age 25 beats $300/month from age 35 thanks to compound growth.