By age 35, you should have 2x your annual salary saved for retirement. Here’s what that looks like.
Retirement Savings Target at 35
| Your Salary | Target Savings (2x) |
|---|---|
| $60,000 | $120,000 |
| $75,000 | $150,000 |
| $80,000 | $160,000 |
| $100,000 | $200,000 |
| $120,000 | $240,000 |
How You Compare: Average 401(k) Balance at 35
| Metric | Amount |
|---|---|
| Average 401(k) balance (35-44) | $91,281 |
| Median 401(k) balance (35-44) | $35,537 |
| Target (2x salary) | ~$160,000 |
Data: Fidelity Q3 2024
The Power of Consistent Saving at 35
| Monthly Savings | Balance at 65 (7% return) |
|---|---|
| $500 | $566,000 |
| $750 | $850,000 |
| $1,000 | $1,133,000 |
| $1,500 | $1,700,000 |
What If You’re Behind at 35?
| Current Savings | Monthly Needed to Hit 2x by 40 |
|---|---|
| $50,000 | $1,500/month |
| $100,000 | $800/month |
| $150,000 | $167/month |
Assumes $80K salary, target of $160K, 7% returns
Catch-Up Strategy at 35
- Max out 401(k) — $23,000/year (2024)
- Max out Roth IRA — $7,000/year additional
- Invest employer match — Don’t leave free money
- Consider backdoor Roth — If income is too high for direct Roth
- Increase with raises — When you get a raise, save half
35 to 40: Critical Growth Window
| Scenario | Balance at 35 | Monthly Savings | Balance at 40 |
|---|---|---|---|
| Behind | $50,000 | $1,000 | $142,000 |
| On track | $160,000 | $1,200 | $323,000 |
| Ahead | $200,000 | $1,500 | $422,000 |
Assumes 7% annual returns
Related Guides
- How much saved for retirement at 30
- How much saved for retirement at 40
- Average 401(k) balance by age
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