How Much Money You Should Have Saved by Every Age — and What to Do If You’re Behind

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How Much Money You Should Have Saved by Every Age — and What to Do If You're Behind By: Marc Guberti Marc Guberti Marc Guberti is a personal finance writer who hosts Breakthrough Success, a podcast where he teaches listeners how to grow their businesses and achieve personal transformations. Has also written: Are You Money-Shy? 5 Signs You May Avoid Wealth Without Realizing It 7 Monthly Bills Retirees Can Lower Right Now What the Average American Has in Their Savings Account — and How You Compare 15 Everyday Expenses That Quietly Cost Retirees Thousands What the IRS Considers 'Income' in Retirement — and What Doesn't Count See full bio Published: Apr 10, 2026 3 min read Getty Images If you’ve spent years setting money aside for your future, you may be wondering whether you have enough saved to reach your goals. What’s “enough” is different for each person, but knowing how much cash your peers have stashed for retirement can give you an idea of how you stack up. Seeing these benchmarks can help you assess if you are on track or falling behind, and that information can guide your next steps. Must ReadExperts are Bullish on Gold — Here's How to Get InWarren Buffett on Market Volatility — and 3 Ways You Can Take Advantage How much Americans have saved Here are the median retirement account sizes for all Americans by age, according to the latest Federal Reserve Survey of Consumer Finances, which is from 2022: Under 35: $18,880 35-44: $45,000 45-54: $115,000 55-64: $185,000 65-74: $200,000 Over 75: $130,000 On average, ​​Americans expect they’ll need $1.46 million saved to retire comfortably, according to a recent study from Northwestern Mutual. In other words, they’re not saving enough.

Where People Are Investing Right NowMotley Fool's monthly stock recommendations — get expert advice and portfolio strategies'The Higher the Balance, the More You'll Earn': Open a savings account with CIT Bank and get 3.75% APYCheck out SoFi's no commission investing platform How much you should be saving Fidelity Investments offers age-based savings recommendations. Here’s what the firm recommends you have saved by various ages: Age 30: 1x your salary Age 35: 2x your salary Age 40: 3x your salary Age 45: 4x your salary Age 50: 6x your salary Age 55: 7x your salary Age 60: 8x your salary Age 67: 10x your salary The optimal number may be higher or lower for you, depending on your specific salaries throughout the years. Someone who made $50,000 in most of their 20s but got a $100,000 salary at 29 may not have enough time to go from $50,000 in savings to $100,000 in a single year, for instance. Fidelity’s projections assume that you can save 15% of your annual income starting at age 25, and you’ll retire at age 67. What to do if you’re behind If you’re behind Fidelity’s benchmarks, don’t panic. Try to increase how much you are contributing to tax-advantaged retirement savings accounts. You can make catch-up contributions when you turn 50, which allow you to store more in retirement savings accounts than the IRS allows before you turn 50. If possible, you can also delay your Social Security benefits and wait until you turn 70 before claiming them. This strategy will increase your monthly income in retirement. You can also trim your spending. While skipping the daily coffee habit can make a small difference, you get to save a lot more money by prioritizing saving on housing, transportation and food. Living in a smaller home, selling a car if you own two of them and reducing how much you dine out can help. Must ReadExperts are Bullish on Gold — Here's How to Get InWarren Buffett on Market Volatility — and 3 Ways You Can Take Advantage