08/28/2026
How much should you have saved for retirement? Experts suggest saving X times your salary by:
✔️ Age 30: 1x salary
You should aim to have saved an amount equal to your current annual salary. Example: If you make $50,000 per year, you should have $50,000 saved by age 30.
✔️ Age 40: 3x salary
By this point, your savings should be about three times your salary. Example: If you make $60,000 per year, you should have $180,000 saved by age 40.
✔️ Age 50: 6x salary
Your retirement savings should now be about six times what you earn annually. Example: If you make $70,000 per year, you should have $420,000 saved by age 50.
✔️ Age 60: 8x salary
As you get closer to retirement, your savings goal increases to eight times your salary. Example: If you make $80,000 per year, you should have $640,000 saved by age 60.
These are general benchmarks, and actual needs can vary depending on factors like lifestyle, healthcare costs, and retirement age. Not sure where you stand? Log in to check your savings and make sure you’re on track! mersofmich.com
