Retirement Savings Benchmarks by Age
| Age | Fidelity Benchmark | On $70k Salary | Avg 401k Balance |
|---|---|---|---|
| 25 | – | – | $6,264 |
| 30 | 1× salary | $70,000 | $11,357 |
| 35 | 2× salary | $140,000 | $37,557 |
| 40 | 3× salary | $210,000 | $91,281 |
| 45 | 4× salary | $280,000 | $148,922 |
| 50 | 6× salary | $420,000 | $203,219 |
| 55 | 7× salary | $490,000 | $234,825 |
| 60 | 8× salary | $560,000 | $255,151 |
| 67 | 10× salary | $700,000 | $182,100 |
Fidelity benchmarks assume you retire at 67. Average 401k balances per Vanguard 2025 data.
Behind? Here's How to Catch Up
- Max out 401k: $23,500/yr in 2026 ($31,000 if 50+)
- Max IRA: $7,000/yr ($8,000 if 50+)
- Delay retirement 2-3 years: Dramatically reduces nest egg needed
- Reduce planned spending: Each $10,000 less per year in retirement = $250,000 less needed
- Part-time in early retirement: Even $10k/yr from work slashes your burn rate
The 4% Rule Explained
The 4% rule says you can safely withdraw 4% of your portfolio in year 1, then adjust for inflation annually. This gives you a high probability of not running out over 30 years.
- Need $50,000/year → Need $1,250,000 saved ($50k ÷ 0.04)
- Need $80,000/year → Need $2,000,000 saved
- Need $40,000/year (+ Social Security) → Much less required
Frequently Asked Questions
How much should I have saved for retirement at 40?
The Fidelity benchmark is 3× your annual salary by age 40. On a $70,000 salary, that's $210,000. The average American 401k balance at 40 is about $91,000 — well below benchmark.
What if I'm behind on retirement savings?
Start maximizing contributions immediately. At 50+, you can make catch-up contributions ($31,000/yr to 401k, $8,000 to IRA). Consider delaying retirement 1-3 years — it dramatically reduces how much you need to save.
How much do I need to retire at 60?
To retire at 60 with $60,000/year in spending, you'd need approximately $1.5 million using the 4% rule. Without Social Security until 62-67, you'd need to cover more years from savings alone.
Ready to calculate?
Free, instant, no login needed.
Calculate My Retirement Date