Tools Retirement Savings by Age Calculator
How much should I have saved for retirement by my age?
A popular yardstick from Fidelity is a multiple of your salary: about 1× by 30, 3× by 40, 6× by 50, 8× by 60 and 10× by 67. See your target for your exact age, whether you’re ahead or behind, and the monthly saving that reaches your next milestone.
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How this calculator works
Target for your age = yearly salary × salary multiple for your age
The multiples are Fidelity’s widely published milestones: 1× your salary by 30, 3× by 40, 6× by 50, 8× by 60 and 10× by 67. Between milestones, the calculator draws a straight line, so at 35 (halfway from 1× to 3×) your target is 2× your salary, and at 45 it is 4.5×. From 67 on, the target stays at 10×.
Fidelity doesn’t publish a figure before 30, so we start the path at zero at age 22, about when many people start a first full-time job. That makes the target at 26 half a year’s salary. Before 22 there is no target yet, and anything you’ve saved puts you ahead.
You’re on track when your savings are within 10% of the target either way, ahead above that, and behind below it. “Monthly to reach it” is the steady monthly saving that would grow today’s balance to your next milestone, at 5% a year after inflation unless you choose another rate, compounded monthly. Your salary is held flat in today’s dollars, so real raises will lift the target.
Treat it as a quick check, not a plan. The multiples assume you’ll need a similar lifestyle in retirement and retire around 67; Social Security, a pension, or plans to spend much more or less all change what you really need. The FI Number tool works from your own retirement spending instead.
Words you’ll see
- Salary multiple
- Your retirement savings divided by your yearly salary. $150,000 saved on a $50,000 salary is 3×.
- Retirement savings
- Money in 401(k), 403(b) and IRA accounts and other investments set aside for retirement. Home equity and emergency savings don’t count.
- Employer match
- Money your employer adds when you contribute to a workplace plan. It’s part of your balance and counts toward the multiple.
- Catch-up contributions
- Extra amounts people aged 50 and over may put into a 401(k) or IRA above the normal yearly limit. The IRS sets the limits each year.
- Real return
- Investment growth after subtracting inflation. Using it keeps every number in today’s dollars.
Common questions
How much should I have saved for retirement by 30?
Fidelity's guideline is about 1 times your yearly salary by age 30. On a $60,000 salary, that is about $60,000 across your 401(k), IRA and other retirement accounts. If you are not there yet, building the habit of saving 15% of pay matters more at 30 than the exact balance.
How much should I have saved for retirement by 40?
Fidelity's guideline is about 3 times your salary by age 40. On a $75,000 salary, that is $225,000 in retirement accounts. The jump from 1 times at 30 to 3 times at 40 comes from steady contributions plus investment growth compounding.
How much should I have saved for retirement by 50?
Fidelity's guideline is about 6 times your salary by age 50, then 8 times by 60 and 10 times by 67. On a $90,000 salary, 6 times is $540,000. From age 50, 401(k) plans and IRAs allow extra catch-up contributions, which help if you are behind.
What if I'm behind on retirement savings?
Being behind the multiple is common and fixable, especially before 50. Capture your full employer match, raise your contribution by 1% of pay each year, and use catch-up contributions from age 50. Working a few years longer also helps twice: more years of saving and fewer years to fund.
Does the salary multiple include my employer match or home equity?
Your employer match counts, because the multiple is the total balance in your retirement accounts, whoever paid in. Home equity does not count, because the guideline measures savings you can draw income from. Include your 401(k), 403(b), IRAs and other long-term retirement investments, and leave out your home.
Sources
- How much do I need to retire? — Fidelity
- Retirement topics: 401(k) and profit-sharing plan contribution limits — Internal Revenue Service
- Compound Interest Calculator — U.S. Securities and Exchange Commission, Investor.gov
This tool is for informational and educational purposes only. It is not financial, tax, or legal advice. Consult a qualified professional for guidance specific to your situation.