How Much Should You Be Saving for Retirement by Age?
Retirement may feel far away, but the earlier you start saving, the easier the journey. Use these simple benchmarks to check if you’re on track.
Benchmarks by Age
- 20s: Aim to save at least 1x your annual salary by age 30.
- 30s: Grow to around 2–3x your salary by age 40.
- 40s: Target 4–6x your salary by age 50.
- 50s: Build toward 8–10x your salary by age 60.
- 60s: Ideally have 10–12x your salary before retirement.
“The best time to start was yesterday. The second-best time is today.”
Tips to Stay on Track
✅ Contribute to your 401(k) or IRA.
✅ Increase contributions when you get raises.
✅ Don’t cash out retirement accounts early.
✅ Use catch-up contributions after age 50.
👉 Want to see if your retirement savings are on pace? Use the Grade My Finance calculator to check your grade instantly.
👉 Related: Why an Emergency Fund is Your Financial Safety Net