"How much should I have saved?" is one of the most common retirement questions, and also one of the hardest to answer with a single number — it depends on income, desired lifestyle, retirement age, and other income sources. That said, a few widely used benchmarks can help you get a rough sense of where you stand.
A common savings-rate benchmark
A frequently cited starting point is saving 10% to 15% of your income for retirement, ideally starting as early in your career as possible. This isn't a guarantee of a specific outcome — it's a general benchmark that assumes a long saving period and reasonable investment growth over time.
One commonly referenced rule of thumb suggests aiming for roughly 1x your salary saved by age 30, 3x by 40, 6x by 50, 8x by 60, and 10x by 67. These are general benchmarks, not personalized targets, and don't account for your specific retirement age, expenses, or other income.
Why starting early matters so much
Because investment growth compounds over time, money saved in your 20s and 30s has decades to grow before retirement, while money saved in your 50s has far less time to do the same. This is why even a modest early savings habit can matter more than a larger one started late.
What these benchmarks don't account for
These are rough guides, not personalized plans. They don't account for when you actually want to retire, what your expenses will realistically look like, whether you'll have a pension, or how Social Security fits into the picture. Two people the same age with the same salary can have very different real targets.
These numbers are illustrative
The benchmarks above are commonly cited industry rules of thumb, not a personalized calculation and not a guarantee of any outcome. Your actual target depends on your specific retirement goals.
What to do next
- Compare your current savings rate to the 10–15% benchmark.
- Use the age-based multiples as a rough gut check, not a verdict.
- If you're behind, focus on one lever — contribution rate, retirement age, or expenses — rather than trying to fix everything at once.
Retirement Calculator
Turn these benchmarks into a projection using your actual age, savings, and contribution rate.
When to speak with an advisor
A human advisor can translate these general benchmarks into a number specific to your actual retirement age, expenses, and other income — which is where generic rules of thumb stop being useful.