"How much should I have saved by now?" is the question people ask financial planners most — usually with dread. Benchmarks exist to answer it, but treat them as mile markers on your route, not verdicts on your character. The classic target comes from Fidelity: save 15% of your gross income each year including employer match, and you land at roughly ten times your salary by age 67.
The benchmark table
| Age | Saved ≈ × your salary | Example on a $60,000 salary |
|---|---|---|
| 30 | 1× | $60,000 |
| 35 | 2× | $120,000 |
| 40 | 3× | $180,000 |
| 45 | 4× | $240,000 |
| 50 | 6× | $360,000 |
| 55 | 7× | $420,000 |
| 60 | 8× | $480,000 |
| 67 | 10× | $600,000 |
The multipliers grow faster after 50 not because saving gets easier, but because compounding does most of its heavy lifting late — a portfolio growing at 7% doubles roughly every decade without you adding a cent.
The four levers that move the number
- Start date. Every decade of delay can cost seven figures of ending wealth — the strongest lever you control early (see the math).
- The match. Contributing below your employer's full match is declining part of your own compensation.
- The raise rule. Bump contributions 1–2% with every raise before your lifestyle absorbs it; automate it where plans allow auto-escalation.
- Portability discipline. Changing jobs? Roll your 401(k) into an IRA or the new plan — cashing out triggers taxes plus penalties and restarts your compounding from zero.
Behind schedule? The catch-up playbook
Fifty-plus savers get oversized tax-advantaged space in 2026:
- 401(k): $24,500 base + $8,000 catch-up at 50+, and an enhanced $11,250 super catch-up for ages 60–63.
- IRA: $7,500 limit including the $1,100 catch-up at 50+.
- Delay claiming Social Security: benefits rise about 8% per year of delay between full retirement age and 70 — among the best guaranteed returns available anywhere.
- Redirect freed cash flow: paid-off mortgage or grown kids shouldn't become lifestyle inflation; sweep it into catch-up contributions automatically.
Picking accounts as you go
A traditional 401(k) trades a tax deduction today for taxable withdrawals later — sensible in peak earning years. A Roth IRA flips the deal: no deduction now, tax-free forever after — usually the better trade when you're young and in a lower bracket. Most savers benefit from holding both, creating flexibility to blend taxable and tax-free income in retirement. And if you have a high-deductible health plan, don't overlook the HSA: contributed pre-tax, grown tax-free, withdrawn tax-free for medical costs — effectively a stealth retirement account after 65.