About the Retirement Savings by Age Calculator
This calculator answers the question “am I saving enough for my age?” It compares your current retirement savings with a widely used rule of thumb that expresses targets as multiples of your salary — about 1× your salary by 30, 3× by 40, 6× by 50, 8× by 60 and 10× by 67 — and shows how far ahead or behind you are today.
It is meant for anyone checking progress: people early in their career, mid-career savers catching up, and couples comparing notes. Beyond today’s snapshot, it projects your savings to your retirement age using your monthly contributions and an assumed return, and tells you how much more you would need to save each month to reach the benchmark when you retire.
The milestones come from Fidelity’s guideline, which assumes you save 15% of income (including any employer match) from age 25, retire at 67 and want to maintain your lifestyle; ages between milestones are interpolated linearly. The retirement target is 10× salary, which Fidelity says should provide about 45% of pre-retirement income alongside Social Security; retiring earlier than 67 generally calls for more. Use a real (after-inflation) return so that your salary and the targets stay in today’s dollars. Benchmarks are rough guides, not a retirement plan — pensions, home equity and spending needs all change what is enough.
With the default inputs, the savings vs benchmark for your age is 67%. Change any value above to recalculate instantly.
How to use the retirement savings by age calculator
- 1Enter your age, salary and total retirement savings today.
- 2Add how much you and your employer contribute each month.
- 3Choose an after-inflation return and your planned retirement age.
- 4Check your progress against the benchmark for your age.
- 5Use the extra-monthly figure to see what it takes to get on track.
Formula and method
The benchmark multiple comes from the milestones 0× at 25, 1× at 30, 3× at 40, 6× at 50, 8× at 60 and 10× at 67, interpolated in a straight line between them (so 2× at 35 and 4.5× at 45). Your progress is current savings divided by that multiple times your salary.
The projection compounds current savings S and monthly contributions C at the monthly rate i (annual return ÷ 12) for n months until retirement, with contributions at month-end. Using an after-inflation return keeps everything in today’s dollars, so the salary-based targets remain comparable. The retirement target is 10× salary whatever retirement age you enter, because Fidelity’s multiples assume retiring at 67 and an earlier date needs more, not less. The extra monthly saving needed is the shortfall between that target and your projection, divided by the future value of $1 a month.
- S
- Current retirement savings
- C
- Monthly contributions including employer money
- i
- Monthly real return (annual ÷ 12)
- n
- Months until retirement
Worked examples
Age 40, $90,000 salary, $180,000 saved
The benchmark at 40 is 3× salary, or $270,000, so $180,000 is 67% of target. Saving $1,100 a month at a 5% real return for 27 years grows the balance to about $1.44 million, above the $900,000 (10×) benchmark at 67.
Age 50 behind on savings
At 50 the benchmark is 6× a $100,000 salary, or $600,000. With $250,000 saved and $1,000 a month at 5% for 17 years you reach about $904,000, roughly $96,000 short of the $1,000,000 benchmark — about $298 more a month closes it.
Age 35 checking in
Halfway between the 1× (30) and 3× (40) milestones, the benchmark at 35 is 2× salary, or $140,000. With $150,000 saved you are at 107% of target.
Frequently asked questions
How much should I have saved for retirement by age?+
A common guideline is 1× your salary by 30, 3× by 40, 6× by 50, 8× by 60 and 10× by 67. These multiples assume you save about 15% of income from age 25 and want to keep a similar lifestyle in retirement.
How much should I have in my 401(k) at 40?+
Using the salary-multiple rule, about 3× your salary across all retirement accounts, not just the 401(k). Someone earning $80,000 would aim for roughly $240,000 by 40.
What if I am behind the benchmark?+
Raise your savings rate, capture the full employer match, use catch-up contributions from age 50, and consider working a few years longer — each extra year adds contributions, growth and a shorter retirement to fund.
Should I include home equity or Social Security?+
No. The benchmarks count invested retirement savings only. Social Security is already assumed to cover part of your needs; a pension or plans to downsize your home could justify a lower personal target.
Why use an after-inflation return?+
Because the targets are tied to your current salary. A real return (for example 5% instead of 7–8% nominal) keeps the projection in today’s dollars so it compares fairly with salary-based benchmarks.
Results are estimates for educational purposes and are not financial advice. Rates, fees and terms vary — confirm with your lender or a licensed advisor before making decisions.