How much should you have saved for retirement by age?
"Am I behind on retirement?" is one of the most anxiety-inducing money questions, partly because nobody hands you a scorecard. Age-based benchmarks give you one — a rough sense of whether you're on track, ahead, or need to act.
The salary-multiple benchmarks
A widely used framework expresses savings as a multiple of your annual salary by each age:
| Age | Target saved |
|---|---|
| 30 | ~1× your salary |
| 40 | ~3× your salary |
| 50 | ~6× your salary |
| 60 | ~8× your salary |
| 67 | ~10× your salary |
So if you earn $60,000, the rough goal is about $60,000 saved by 30 and roughly $600,000 by retirement. These are guidelines, not laws — but they're a useful gut check.
Where the numbers come from
The multiples assume you'll want to replace a large share of your pre-retirement income, that you'll draw down savings over a multi-decade retirement, and that investments grow along the way. Your real target depends on your lifestyle, other income (like a pension or social security), and when you plan to stop working.
What to do if you're behind
Most people are behind at some point — it's recoverable, especially with time:
- Capture every employer match first; it's an instant return on your contribution.
- Increase your savings rate gradually — even 1% more per year adds up.
- Use catch-up contributions if your country/plan allows them after 50.
- Let compounding work — money invested in your 30s and 40s has decades to grow. (See compound interest explained.)
Savings rate matters more than perfect benchmarks
Hitting an exact multiple matters less than consistently saving a healthy share of income — often cited as 15% or more, including any employer match. A steady rate, started as early as possible and increased over time, does more than chasing a number you missed by 35.
Run your own projection
Benchmarks are averages; your situation is specific. Model how your current savings and monthly contributions grow at different return rates using our finance calculators to see whether you're on track for your goal — not a generic one.
The bottom line
Aim for roughly 1× salary saved by 30, 3× by 40, and around 10× by retirement — but treat these as a compass, not a verdict. If you're behind, the fix is the same as if you're ahead: capture the match, raise your savings rate, and give compounding time to work. The best day to start was years ago; the next best is now.