How much should you have saved by your age?
The most quoted rule of thumb comes from Fidelity: save 1 times your salary by 30, 3 times by 40, 6 times by 50, 8 times by 60 and 10 times by 67. It's a useful checkpoint, as long as you know what it assumes.
Key points
- The benchmarks are multiples of your current salary, counting all your retirement savings.
- On a $64,000 salary, 3x by 40 means about $192,000 saved.
- They assume you start at 25 and save 15% of pay every year, including any employer match. If you started later, being behind is expected, not a failure.
Two well-known benchmarks
Fidelity and T. Rowe Price both publish targets by age. They differ because they assume different retirement ages and how much of your income Social Security replaces.
| Age | Fidelity | T. Rowe Price range |
|---|---|---|
| 30 | 1x | 0.5x |
| 40 | 3x | 1.5x to 2.5x |
| 50 | 6x | 3.5x to 5.5x |
| 60 | 8x | about 6x to 11x |
| 65 to 67 | 10x by 67 | 7.5x to 13.5x by 65 |
T. Rowe Price gives a range because higher earners need a bigger multiple: Social Security replaces a smaller share of a large paycheck.
What it looks like on a $64,000 salary
| Age | Fidelity target | Amount |
|---|---|---|
| 30 | 1x | $64,000 |
| 40 | 3x | $192,000 |
| 50 | 6x | $384,000 |
| 60 | 8x | $512,000 |
| 67 | 10x | $640,000 |
Your salary will likely grow, so the dollar target moves with it. That's why the benchmark uses a multiple, not a fixed number.
What counts toward the number
- Counts: your 401(k) or Puerto Rico workplace plan, any IRA, and brokerage money you have set aside for retirement.
- Doesn't count: your home's value, your emergency fund, or money saved for a car or a house.
The assumptions behind Fidelity's numbers
- You start saving at 25 and save 15% of pay every year, employer match included.
- You retire at 67. Retiring at 65 raises the target to about 12x; retiring at 70 lowers it to about 8x.
- Your savings need to replace about 45% of your pre-retirement income, with Social Security covering much of the rest, and no pension.
- Your spending in retirement is about average. A simpler lifestyle might need 8x; a more expensive one, 12x.
If you have a pension, such as a government retirement plan, you may need less. If you plan to retire early, you'll need more.
Where most people actually are
Vanguard's 2026 report found a median 401(k) balance of $18,732 for savers aged 25 to 34. That figure covers one account at one employer, so many people have more spread across old plans and IRAs. But it's a reminder that falling short of 1x by 30 is common.
If you are behind
- Get the full employer match first. See how the match works.
- Raise your savings rate 1% a year until you reach 15% or more. The how much to save guide shows what that adds up to.
- Use catch-up contributions at 50. The IRS allows $8,000 extra in a U.S. 401(k) in 2026; Puerto Rico plans allow $1,500 extra.
- Work a little longer if you can. Each extra year adds savings, adds growth and shortens the time your money has to last.
- Lower your fees. Low-cost index funds leave more of each year's growth to compound.
Sources
For education only, not financial, tax or legal advice. Rules and limits change; check the sources and talk with a licensed professional about your own situation.