Salary multiples as a yardstick
A popular way to check retirement progress is to compare savings with salary. Fidelity's widely quoted guideline suggests having about 1× your salary saved by 30, 3× by 40, 6× by 50, 8× by 60 and 10× by 67. The milestones assume you save around 15% of income each year from age 25, invest mostly in stocks, and retire at 67. The calculator fills in the years between with a straight line.
At 40 on an $85,000 salary, the guideline is $255,000. Someone with $160,000 saved is at about 1.9×, which is behind but very recoverable with higher contributions over the next 25 years.
If you are behind
Being behind a rule of thumb is common, and the fixes are straightforward. Raise retirement contributions by one or two percentage points a year until you reach 15% or more, make sure you capture any employer match, and use catch-up contributions once you turn 50. If you expect a pension, or plan to live somewhere cheaper in retirement, you may need less than the guideline suggests.
Common questions
How much should I have saved for retirement by 30?
About 1× your yearly salary, by Fidelity's guideline.
How much should I have saved by 40?
About 3× your salary. By 50, about 6×.
Do these guidelines include home equity?
No, they cover retirement savings and investments only.
This calculator gives estimates for planning. Real returns, rates and prices change, so treat the result as a guide rather than a promise. Read how we build and check our calculators.