Benchmarks can help you gauge progress, but your own plan matters more than any rule of thumb.
Common benchmarks
A popular guideline suggests saving one times your salary by 30, three times by 40, six times by 50 and eight times by 60, and ten times by 67. These assume saving about 15% of income starting in your mid-20s and retiring at 67.
If you are behind
Increase your savings rate, even by 1% a year. Use catch-up contributions after age 50. Consider working a few years longer, delaying Social Security and cutting expenses. Each additional working year both adds savings and reduces retirement years to fund.
Make it personal
Use a retirement calculator with your actual spending needs, expected Social Security and investment assumptions. Revisit annually and after major life changes.
Try the numbers
Use our How Much Do I Need to Retire Calculator to see this in practice. With its default example (Current age: 38; Retirement age: 65; Plan to age: 93), it shows nest egg needed at retirement: $2,217,705. Adjust the inputs to match your situation.
Key takeaways
- Benchmarks are guides, not guarantees.
- Saving 15% of income is a common target.
- Catch-up contributions help after age 50.
This article is for general education and is not personalized financial, tax or legal advice. Rules and limits change; confirm current figures with official sources such as IRS.gov, SSA.gov and StudentAid.gov, or consult a qualified professional. © 2026 FinanzCalc.