Retirement Savings by Age: How Much Should You Have Saved?

Fidelity's salary-multiple rule of thumb, in one table — see where you stand and what to do if you're behind.

There's no single "right" retirement balance for your age — it depends on your income, when you plan to retire, and what lifestyle you want afterward. But a benchmark is still useful for a gut check. Fidelity's salary-multiple guideline is the most widely cited one, and it's built around a simple assumption: save 15% of your pre-tax income every year starting at 25, and you should have about 10 times your final salary saved by age 67.

The salary-multiple rule of thumb

For example, someone earning $70,000 a year would be on track with about $210,000 saved by age 50, and roughly $700,000 by age 67. If you're aiming to retire earlier than 67, Fidelity suggests targeting a higher multiple — around 12x salary — since your savings need to stretch across more retirement years before Social Security and other income typically kick in.

Where these numbers come from

The math assumes you save 15% of pre-tax income annually (including any employer match) from age 25 through 67, and that your investments earn a reasonable average return over that time. The end goal is replacing about 45% of your pre-retirement income from savings, with the rest expected to come from Social Security and any pension. Most people need 55–80% of their pre-retirement income to maintain their lifestyle, so this assumes Social Security fills a meaningful part of the gap.

Average 401(k) balances by age

For comparison, here's what people actually have saved, based on Fidelity's Q2 2026 401(k) participant data:

Keep in mind these are averages among people who actively participate in a workplace 401(k) plan, which tends to skew higher than the population as a whole — someone without access to a workplace plan, or who hasn't been contributing consistently, will typically see a lower number. Averages are also pulled upward by a relatively small number of very large balances, so a "typical" (median) balance at any given age is usually meaningfully lower than the average shown here.

If you're behind, here's how to catch up

• Capture the full employer match first. If your employer matches 401(k) contributions, contributing enough to get the full match is an immediate, guaranteed return that's hard to beat anywhere else.
• Use catch-up contributions once you turn 50. The IRS allows additional contributions above the standard limit for savers 50 and older, in both 401(k)s and IRAs.
• Increase your contribution rate gradually. Bumping your contribution by just 1% of income per year, especially tied to a raise, is easy to not notice in your take-home pay but adds up significantly by retirement.
• Consider working a few years longer. Delaying retirement even 2–3 years both shrinks how many years your savings need to cover and gives your existing balance more time to grow, and can also increase your eventual Social Security benefit.
• Reduce fees where you can. High expense ratios on mutual funds quietly compound against you over decades — low-cost index funds are often available in the same workplace plan.

Average IRA balances by generation

This article is general information, not financial advice. Savings benchmarks are illustrative and don't account for your specific income, expenses, or retirement timeline — consult a financial advisor for guidance tailored to your situation.