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How Much Should I Have Saved by 30, 40, and 50?

2024-03-01

Educational content only. Rules and tax laws change over time; verify official sources.

Am I on track? It's the question everyone asks. Here are data-backed benchmarks for every age - and what to do if you're behind.

The Quick Benchmarks

These are based on having roughly 25x your annual expenses by age 65:

  • By 30: 1x your annual salary saved
  • By 40: 3x your annual salary saved
  • By 50: 6x your annual salary saved
  • By 60: 8x your annual salary saved
  • By 67: 10x your annual salary saved

Why These Numbers?

At a 15% savings rate with 7% returns, these milestones put you on track for a retirement where you can replace about 80% of your pre-retirement income.

But My Salary Changed...

Use your current salary for these calculations. If you made $50k in your 20s but now make $100k, compare against $100k.

What If I'm Behind?

Don't panic. Here's the recovery playbook:

  1. Increase savings rate: Every 1% increase in savings can reduce retirement age by months
  2. Maximize employer match: It's literally free money
  3. Consider working longer: Each extra year adds savings AND reduces the years you need to fund
  4. Reduce planned retirement spending: A 10% cut to expenses means 10% less you need saved

What If I'm Ahead?

You have options:

  • Retire earlier than 65
  • Maintain lifestyle and have more margin for error
  • Plan for a more comfortable retirement
  • Support family members or charitable causes

Find Your Personal Number

These are general guidelines. Your actual number depends on your expenses, location, and goals. Use our calculator to find yours.

Try the Calculator

Apply this framework to your own situation.

Open Quickstart

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