Quiz: Is Your Retirement Savings on Track at Age 50 to 55?

From $107.88 $24.99Subscribe to KiplingerFind out if your retirement savings are on track with our quick quiz. When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.You are now subscribedYour newsletter sign-up was successfulWant to add more newsletters?Delivered dailyKiplinger TodayProfit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more delivered daily. Smart money moves start here.Sent five days a weekKiplinger A Step AheadGet practical help to make better financial decisions in your everyday life, from spending to savings on top deals.Delivered dailyKiplinger Closing BellGet today's biggest financial and investing headlines delivered to your inbox every day the U.S. stock market is open.Sent twice a weekKiplinger Adviser IntelFinancial pros across the country share best practices and fresh tactics to preserve and grow your wealth.Delivered weeklyKiplinger Tax TipsTrim your federal and state tax bills with practical tax-planning and tax-cutting strategies.Sent twice a weekKiplinger Retirement TipsYour twice-a-week guide to planning and enjoying a financially secure and richly rewarding retirementSent bimonthly.Kiplinger Adviser AngleInsights for advisers, wealth managers and other financial professionals.Sent twice a weekKiplinger Investing WeeklyYour twice-a-week roundup of promising stocks, funds, companies and industries you should consider, ones you should avoid, and why.Sent weekly for six weeksKiplinger Invest for RetirementYour step-by-step six-part series on how to invest for retirement, from devising a successful strategy to exactly which investments to choose.For many 50-year-olds, the magic number to retire feels like a moving target. If you plan on retiring at 65, you still have a decade or more to build the nest egg you’ll need to live comfortably.But knowing where you stand today is the only way to plan for tomorrow. For some, a benchmark is confirmation that they are on track; for others, it’s a reminder to step up their efforts. Moreover, it could be a vital wake-up call.To help you find your footing, JPMorgan crunched the numbers to create a retirement savings benchmark based on age and income. This model assumes a retirement age of 65, an annual gross savings rate of 5%, a portfolio of target-date funds and a retirement lasting 35 years.Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special IssuesProfit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.Profit and prosper with the best of expert advice - straight to your e-mail.Household IncomeTarget Savings by Age 50Target Savings by Age 55$80,000$355,000$450,000$100,000$430,000$585,000$150,000$615,000$840,000$200,000$775,000$1.065 million$250,000$980,000$1.345 million$300,000$1.29 million$1.75 millionSubscribe to the Retirement Tips newsletter, your guide to planning and enjoying a financially secure and richly rewarding retirement.Saving for retirement involves many moving parts beyond your 401(k) or IRA balance. Your debt load, health care strategy and the actions you take today all dictate your future security.Not sure if your retirement savings are truly on track? Take our quiz to see where you stand and what your next move should be.Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.Donna Fuscaldo is the retirement writer at Kiplinger.com. A writer and editor focused on retirement savings, planning, travel and lifestyle, Donna brings over two decades of experience working with publications including AARP, The Wall Street Journal, Forbes, Investopedia and HerMoney. Kiplinger is part of Future US Inc, an international media group and leading digital publisher. Visit our corporate site. © Future US, Inc. Full 7th Floor, 130 West 42nd Street, New York, NY 10036.