Recommended Retirement Savings by Age

There is a lot of confusion around retirement, and particularly recommended retirement savings by age. How much should you have saved by age? And how much do you need in retirement?

While not perfect, Fidelity came out with a simple formula to calculate how much you need to retire, and how much you should have saved by age for retirement.

Ideally you should aim to have 1X your annual income saved for retirement by age 30.

Saving for Retirement in Your 20s

Ideally you should aim to have at least 3X your annual income saved for retirement by age 40.

Saving for Retirement in Your 30s

Ideally you should aim to have at least 6X your annual income saved for retirement by age 50.

Saving for Retirement in Your 40s

Ideally you should aim to have at least 8X your annual income saved for retirement by age 60, and 10X by age 67.

Saving for Retirement in Your 50s and Beyond

Saving 10X your income doesn’t happen overnight, but it is definitely possible to get there!

The Ultimate Goal: Take Control of Your Retirement

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