Assess retirement readiness with age-based savings benchmarks from Fidelity, Vanguard, and industry experts. Input current age (25-70), annual salary ($20k-$500k), and current retirement savings ($0-$10M) to see recommended savings targets (1x salary by 30, 3x by 40, 6x by 50, 10x by 67), gap analysis, monthly contribution recommendations, and projected retirement income replacement ratio (70-100%). Includes catch-up contribution guidance (50+), Social Security integration, 401(k)/IRA max limits (2025: $23,000+$7,500 catch-up), and 4% safe withdrawal rule analysis. Essential for retirement planning, financial health checkups, and course correction.
Frequently Asked Questions
What should I have saved for retirement by age 30, 40, 50, and 60?
**Fidelity retirement savings benchmarks (2025)** - Based on multiples of your annual salary: **Age 30**: **1x salary** saved. *Example*: $60,000 salary → $60,000 in retirement accounts (401k + IRA + taxable). **Age 40**: **3x salary**. *Example*: $80,000 salary → $240,000 saved. **Age 50**: **6x salary**. *Example*: $100,000 salary → $600,000 saved. **Age 60**: **8x salary**. *Example*: $120,000 salary → $960,000 saved. **Age 67 (retirement)**: **10x salary**. *Example*: $120,000 salary → $1.2 million saved. **Key assumptions**: Start saving 15% of salary at age 25, invest in balanced portfolio (50% stocks/50% bonds), retire at 67, replace 45% of pre-retirement income (other 55% from Social Security and pensions). **Vanguard alternative benchmarks** (more conservative): Age 30: 0.5-1x, Age 40: 2-4x, Age 50: 4-7x, Age 60: 7-11x, Age 67: 10-14x salary. **Reality check (Federal Reserve 2022 data)**: Median retirement savings by age: 35-44: $60,000, 45-54: $100,000, 55-64: $134,000, 65-74: $164,000.
Most Americans are 30-50% behind benchmarks.
How much should I save monthly to catch up if I'm behind on retirement savings?
**Monthly savings calculation to reach age-based target**: **Formula**: (Target amount - Current savings) ÷ Months until next milestone ÷ (1 + Annual return rate)^Years. **Example 1 - Age 35, behind on 30s target**: Current salary: $70,000.
Target by 40: 3x = $210,000.
Current savings: $50,000 (should be $70k by 30).
Gap: $210,000 - $50,000 = $160,000 shortfall in 5 years (60 months).
Assuming 7% annual return, need to save **$2,100/month** ($25,200/year = 36% of salary). **More realistic split**: Save 15% in 401k ($875/month) + 6% in Roth IRA ($350/month) + 5% in taxable ($290/month) = **$1,515/month** (26% of gross) to close gap by age 45 instead of 40. **Example 2 - Age 50, significantly behind**: Salary: $100,000.
Target: 6x = $600,000.
Current: $200,000.
Gap: $400,000 over 17 years to age 67.
Need **$1,050/month** at 7% return (13% of salary). **Catch-up contribution boost (age 50+)**: 401k limit 2025: $23,000 + $7,500 catch-up = $30,500 total ($2,542/month).
IRA: $7,000 + $1,000 catch-up = $8,000 ($667/month). **Max both = $3,208/month** allows aggressive catch-up for high earners.
Is the "10x salary by retirement" rule realistic, and what income will that provide?
**10x salary rule analysis (Fidelity guideline)**: **Retirement income generated**: Assumes **4% safe withdrawal rate** (Trinity Study). 10x salary × 4% = **40% of pre-retirement income annually**. **Example**: $100,000 final salary × 10 = $1 million saved. $1M × 4% = **$40,000/year** from savings. **Combined with Social Security**: Average Social Security benefit (2025): **$1,907/month = $22,884/year** (23% of $100k salary).
Total retirement income: $40,000 (savings) + $22,884 (Social Security) = **$62,884** = **63% income replacement**. **Is 10x realistic?** **Pros**: Achievable if start at 25 saving 15% annually with 7% returns.
Provides comfortable 60-70% income replacement with Social Security. **Cons**: Median 401k balance at retirement (2024): $200,000 (only 2x final salary for many). 47% of Americans have $0 in retirement savings.
Requires discipline and employer match (typical 3-6%). **Alternative targets by lifestyle**: **Comfortable retirement**: 12-15x salary (covers healthcare, travel, inflation). **Lean FIRE**: 25x annual expenses (4% rule = 100% expense coverage). **Fat FIRE**: 20-30x salary (luxurious retirement, large buffer). **Starting late?** Age 40 with $0 saved, need to save **25-30% of income** to reach 10x by 67.
How do 401(k) employer matches and IRA contributions factor into retirement savings targets?
**Employer 401k match impact**: **Common match formulas (2025)**: 50% match on first 6% of salary = 3% employer contribution. 100% match on first 3-4% of salary = 3-4% employer contribution.
Dollar-for-dollar up to 5% = 5% employer contribution (aggressive). **Example - 50% match on 6%**: Salary: $80,000.
You contribute: 6% = $4,800/year ($400/month).
Employer adds: 3% = $2,400/year ($200/month). **Total annual contribution: $7,200** (9% of salary) even though you only "feel" $4,800.
Over 30 years at 7% return: **You contribute $144,000** → Grows to $456,000. **Employer contributes $72,000** → Grows to $228,000. **Employer match = $228,000 free money** (50% boost to final balance). **IRA contribution limits (2025)**: Under 50: $7,000/year ($583/month).
Age 50+: $8,000/year with $1,000 catch-up ($667/month). **Roth vs Traditional IRA tax savings**: $7,000 Traditional IRA contribution in 24% tax bracket = **$1,680 tax refund** (reduces net cost to $5,320). **Combined strategy to max retirement savings**: **Phase 1**: Contribute to 401k up to employer match (free money, always do this first). **Phase 2**: Max out Roth IRA ($7,000) for tax-free growth. **Phase 3**: Return to 401k and contribute up to annual limit ($23,000). **Phase 4**: Taxable brokerage account for additional savings beyond tax-advantaged limits. **Total max 2025 (under 50)**: 401k $23,000 + IRA $7,000 = **$30,000/year** ($2,500/month).
What percentage of my pre-retirement income should I plan to replace in retirement?
**Income replacement ratio targets**: **Traditional guideline**: **70-80% of pre-retirement income**.
Logic: No longer saving for retirement (15%), no payroll taxes (7.65%), reduced work expenses (commute, lunches, clothing). **Detailed replacement needs by expense category**: **Housing**: 25-35% (mortgage paid off reduces to property tax + maintenance). **Healthcare**: 10-15% (Medicare + Medigap + out-of-pocket, higher than working years). **Food**: 10-12% (same or higher - more time to cook elaborate meals). **Transportation**: 5-8% (no commute, but travel increases). **Taxes**: 10-15% (lower bracket, but RMDs from 401k are fully taxable). **Entertainment/Travel**: 15-20% (higher than working years - "go-go years"). **Total**: **75-85% of pre-retirement spending**. **Example - $100,000 pre-retirement salary**: Target retirement income: **$70,000-80,000/year**.
Social Security: $22,884 (23%).
From savings needed: $47,116-57,116 (47-57%).
At 4% withdrawal rate, need **$1.18M-1.43M saved** (12-14x final salary). **Alternative approaches**: **Replace 100% of expenses** (not income): If saving 15% + paying 7.65% FICA while working, actual expenses = 77% of gross.
Need to replace that 77% ($77,000 on $100k salary). **Higher replacement for lower earners**: $40,000 salary needs **90-100% replacement** (Social Security covers larger %, but less discretionary cuts possible). **Lower replacement for high earners**: $200,000 salary may only need **60-70% replacement** ($120k-140k) due to lifestyle adjustments and higher savings rate while working.
If I start saving for retirement late (age 40-50), what are my realistic options?
**Late-start retirement savings strategies**: **Starting at age 40 with $0 saved**: **Goal**: Reach 10x salary by 67 ($100,000 salary = $1M target). **Time horizon**: 27 years. **Required monthly savings**: **$1,350/month** at 7% annual return (16.2% of $100k salary). **Reality check**: Also need emergency fund, kids' college, mortgage.
More realistic: Save 12-15% ($1,000-1,250/month) and accept 7-8x salary target by 67, plan to work to 70. **Starting at age 50 with $100,000 saved**: **Goal**: Reach $1M by 67. **Gap**: $900,000 shortfall. **Required monthly savings**: **$2,350/month** at 7% return (28% of salary - very aggressive). **Catch-up contribution advantage**: Age 50+ can contribute $30,500 to 401k + $8,000 to IRA = **$38,500/year** ($3,208/month max).
If maxing out, reach **$1.05M by 67** with $100k starting point. **Aggressive strategies for late starters**: **1.
Delay retirement to 70**: Gains 3 years of savings + 8% annual Social Security increase (24% more than claiming at 67). **2.
Downsize home at 60-65**: Sell $400k home, buy $250k condo, invest $150k proceeds (adds 3-4x salary equivalent). **3.
Reduce target replacement ratio**: Accept 60% income replacement instead of 80% (reduces savings need by 25%). **4.
Geographic arbitrage**: Move to lower cost-of-living state or country in retirement (Thailand, Portugal, Mexico can reduce expenses 40-60%). **5.
Part-time work in retirement**: Work 15-20 hours/week for $20-30k/year to supplement savings (delays drawing down principal). **6.
Max HSA contributions**: $4,300 individual/$8,550 family (2025) - Triple tax advantaged, can use for retirement healthcare. **Realistic late-start outcome**: Starting at 40-50, aggressive saving (20-25% of income), likely reach **6-8x salary by 70** (not 10x by 67), but combined with Social Security and part-time work = comfortable retirement.
About This Page
Editorial & Updates
- Author: SuperCalc Editorial Team
- Reviewed: SuperCalc Editors (clarity & accuracy)
- Last updated: 2026-01-13
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Financial/Tax Disclaimer
This tool does not provide financial, investment, or tax advice. Calculations are estimates and may not reflect your specific situation. Consider consulting a licensed professional before making decisions.