How Much Savings Should You Have by Age 30, 40, 50?
By age 30, aim to have 1x your salary saved. By 40, 3x. By 50, 6x. By 60, 8x. These Fidelity benchmarks give you a clear roadmap for retirement readiness at every stage of life.
Knowing whether you are on track for retirement requires comparing your savings to established benchmarks. The most widely used benchmarks come from Fidelity, based on data from millions of retirement accounts. These targets assume you retire at 67 and replace about 45-85% of your pre-retirement income through a combination of savings and Social Security. As of 2026, the median retirement savings for Americans ages 35-44 is about $45,000, and for ages 55-64 it is about $145,000 — well below the recommended targets. Understanding where you stand is the first step to closing the gap.
Fidelity Savings Benchmarks by Age
Recommended Savings as a Multiple of Annual Salary
By Age 30: 1x salary saved. If you earn $50,000, you should have $50,000 in retirement accounts.
By Age 35: 2x salary saved. At $60,000 income, target $120,000.
By Age 40: 3x salary saved. At $70,000 income, target $210,000.
By Age 45: 4x salary saved. At $80,000 income, target $320,000.
By Age 50: 6x salary saved. At $85,000 income, target $510,000.
By Age 55: 7x salary saved. At $90,000 income, target $630,000.
By Age 60: 8x salary saved. At $95,000 income, target $760,000.
By Age 67: 10x salary saved. At $100,000 income, target $1,000,000.
These targets assume you begin saving at age 25, save 15% of income annually, and earn 7% average returns. If you started later, you will need higher savings rates to hit these targets. Fidelity updates these benchmarks periodically and they have become the industry standard for retirement readiness assessments.
Net Worth by Age (U.S. Data)
The Federal Reserve's Survey of Consumer Finances provides median and average net worth data by age group. Net worth includes all assets (home equity, investments, cash, vehicles) minus all debts (mortgage, student loans, credit cards):
Under 35: Median $16,000 | Average $183,000
35-44: Median $91,000 | Average $436,000
45-54: Median $168,000 | Average $833,000
55-64: Median $213,000 | Average $1,175,000
65-74: Median $266,000 | Average $1,217,000
75+: Median $254,000 | Average $977,000
Averages are skewed higher by wealthy households. Medians give a better picture of a typical household. If your net worth exceeds the median for your age group, you are ahead of half of American households.
Retirement Account Balances by Age
Vanguard's 2025 How America Saves report shows average and median 401(k) balances by age. These figures include only 401(k) and similar defined contribution plans, not IRAs or taxable brokerage accounts:
- Under 25: Average $6,700 | Median $2,500
- 25-34: Average $37,500 | Median $16,000
- 35-44: Average $91,300 | Median $36,000
- 45-54: Average $168,600 | Median $63,000
- 55-64: Average $244,700 | Median $89,000
- 65+: Average $272,600 | Median $88,000
Many retirement savers have multiple accounts (a current 401(k), old 401(k)s, and IRAs), so total retirement savings may be higher than these 401(k)-only figures suggest. However, the median balances show most Americans have far less saved than the Fidelity benchmarks recommend.
How to Catch Up If You Are Behind
- Increase savings rate aggressively: Aim for 20-30% of income if you are behind. Cut discretionary spending or increase income through side hustles.
- Use catch-up contributions: If you are 50+, contribute an extra $7,500 to your 401(k) and $1,000 to your IRA in 2026.
- Consider delaying retirement: Working 2-3 extra years dramatically increases your savings and reduces the number of retirement years you need to fund.
- Optimize investment allocation: If you have 10+ years until retirement, consider a more aggressive asset allocation (80%+ stocks) to maximize growth.
- Reduce fees: High expense ratios eat into returns. Switch to low-cost index funds with expense ratios under 0.10%. A 1% fee costs you about 28% of your potential portfolio value over 30 years.
What Counts as Savings?
For retirement benchmarks, count only retirement-specific savings: 401(k)s, IRAs (traditional and Roth), 403(b)s, TSPs, SEP IRAs, and similar accounts. Some advisors also include taxable brokerage accounts earmarked for retirement. Do not include: emergency fund, home equity, college savings (529 plans), or cash for short-term goals. Including non-retirement assets overstates your readiness. If you have a pension, calculate its present value (approximately 25x the annual pension benefit) and count it toward your savings targets.
Related Resources
FAQs
What if my salary changes over time — should I recalculate?
Yes. Benchmarks are relative to your current salary. If your salary increases from $50,000 to $80,000 at 40, your target jumps from $150,000 (3x $50k) to $240,000 (3x $80k). Compare your savings to the target for your age and current salary each year.
Do these benchmarks account for Social Security?
Yes. Fidelity's benchmarks assume Social Security replaces about 35% of pre-retirement income for median earners. High-income earners may need higher savings multiples since Social Security replaces a smaller percentage of their income.
Should I include my spouse's savings in these targets?
Use household income and household savings for combined targets. If your household earns $120,000 and has $360,000 at age 40, you are at 3x — right on track. Married couples can coordinate Social Security strategies and share expenses.
What if I have a pension?
Calculate the present value of your pension: multiply your expected annual pension benefit by 25. A $20,000/year pension equals $500,000 in savings. Add this to your savings total. However, consider pension risk — some private pensions are underfunded and may be reduced.