How Much Should You Have Saved by 30, 40, and 50?
Savings benchmarks give you a reality check. Here’s what the numbers actually say — and more importantly, what to do if you’re behind.
The Fidelity Rule of Thumb
Fidelity, one of the largest retirement account providers in the US, publishes widely-used savings benchmarks based on your salary:
| Age | Savings Target |
|---|---|
| 30 | 1× your annual salary |
| 35 | 2× your annual salary |
| 40 | 3× your annual salary |
| 45 | 4× your annual salary |
| 50 | 6× your annual salary |
| 55 | 7× your annual salary |
| 60 | 8× your annual salary |
| 67 | 10× your annual salary |
So if you earn $70,000/year, you should have roughly $70,000 saved by 30, $140,000 by 35, and $210,000 by 40.
What “Savings” Actually Means Here
This includes everything working for your retirement:
- 401(k) and 403(b) balances
- IRA and Roth IRA balances
- Pension present value (if applicable)
- Taxable brokerage accounts earmarked for retirement
It does NOT include your emergency fund, home equity, or a savings account for a car.
The Reality Check: Most Americans Are Behind
According to Federal Reserve data, the median American in their 30s has around $35,000 in retirement savings — well below the 1× salary benchmark for most earners. You’re not alone if you’re behind. But you do need a plan.
What If You’re Behind?
In your 20s: Time is your biggest asset. Even $200/month invested at 7% from age 22 becomes $640,000 by 65. Start now, start small.
In your 30s: Prioritize getting the full 401(k) employer match first — it’s a guaranteed 50–100% return. Then max a Roth IRA ($7,000/year). Then increase 401(k) contributions.
In your 40s: This is when income is typically highest. Redirect lifestyle inflation into savings. The IRS allows catch-up contributions: an extra $7,500/year in your 401(k) once you hit 50.
In your 50s: Run the actual numbers with a retirement calculator. Know your exact gap. Social Security optimization becomes important — delaying from 62 to 70 increases your benefit by ~76%.
The Most Important Insight
Benchmarks are averages. What matters for you is your specific retirement number — based on your expected spending, not your salary. Use our retirement calculator to find your personal target and how much to save monthly to hit it.
A high earner who spends lavishly needs far more than 10× salary. A frugal person with a paid-off home and modest lifestyle might need far less. Run your own numbers.