The retirement savings benchmarks below show targets at milestone ages up to 67, the actual median balances Americans had saved in the Federal Reserve’s 2025 Survey of Consumer Finances, and what different savings amounts generate as retirement income. Fidelity’s benchmark: 1x your salary by 30, 3x by 40, 6x by 50, and 10x by 67. In practice, the median saver is well behind these targets at every age — the median 45–54 year old family with a retirement account has $133,000 saved against a $450,000 benchmark on a $75,000 salary.
Retirement Savings by Age: Quick-Reference Chart
The table below is the core reference. Find your age row, read across to see where you should be, where Americans your age actually are (median), and what the gap looks like on a $75,000 salary.
| Age | Benchmark (Fidelity) | Median Actual Savings* | Gap at $75K Salary |
|---|---|---|---|
| 30 | 1x salary | ~$21,000 | –$54,000 |
| 40 | 3x salary | ~$61,000 | –$164,000 |
| 45 | 4.5x salary (interpolated) | ~$133,000 | –$204,500 |
| 50 | 6x salary | ~$133,000 | –$317,000 |
| 55 | 7x salary (interpolated) | ~$239,000 | –$286,000 |
| 60 | 8x salary | ~$239,000 | –$361,000 |
| 67 | 10x salary | ~$257,000 | –$493,000 |
Median savings from the Federal Reserve’s 2025 Survey of Consumer Finances (our calculation from the public data, in 2025 dollars), conditional on holding a retirement account. The figures are for age bands (under 35, 35–44, 45–54, 55–64, 65–74, 75 and older) rather than single-age data points, so the same band value is shown for every age within that band. Benchmark gap calculated on $75,000 salary.
The gap column shows the median balance below the benchmark at every age shown — which means being behind does not put you outside the norm, but it does require a clear catch-up plan. The sections below break down what each benchmark means, what real Americans actually have, and exactly what your savings will generate in retirement income.
Fidelity Salary Multiplier Benchmarks — Full Table
Fidelity’s salary multiplier benchmarks are the most widely cited retirement savings targets in the US. They assume you will need about 45% of your pre-retirement income to come from savings, with retirement at 67 and a plan that runs through age 93 (the 45% figure also assumes you claim Social Security at 67 and have no pension). If you earn significantly more or less than the median, or plan to retire before 67, adjust the multiplier accordingly.
| Age | Target (Fidelity Multiplier) | Example: $60K Salary | Example: $80K Salary | Example: $100K Salary |
|---|---|---|---|---|
| 30 | 1x | $60,000 | $80,000 | $100,000 |
| 35 | 2x (estimate) | $120,000 | $160,000 | $200,000 |
| 40 | 3x | $180,000 | $240,000 | $300,000 |
| 45 | 4.5x (estimate) | $270,000 | $360,000 | $450,000 |
| 50 | 6x | $360,000 | $480,000 | $600,000 |
| 55 | 7x (estimate) | $420,000 | $560,000 | $700,000 |
| 60 | 8x | $480,000 | $640,000 | $800,000 |
| 67 | 10x | $600,000 | $800,000 | $1,000,000 |
Fidelity’s current guidance gives milestones only at 30, 40, 50, 60 and 67, so the rows for 35, 45 and 55 here are in-between estimates, not Fidelity figures. The steepest step in Fidelity’s own list is 3x at 40 to 6x at 50 — three full salary multiples in ten years. This is the window where the 401(k) catch-up contribution becomes most valuable: workers 50 and older can contribute $32,500 to their 401(k) in 2026 in most plans (or $35,750 at ages 60-63) versus $24,500 for younger workers. For a deeper look at whether you are on pace, see am I on track for retirement.
Average vs. Median Retirement Savings by Age (2025 Survey Data)
The Federal Reserve’s Survey of Consumer Finances is a primary source for actual retirement savings balances by age group. The figures below come from the 2025 survey, released in October 2026, and are our calculation from the Fed’s public data (in 2025 dollars). They show both the mean (average) and the median — and the gap between them is stark.
| Age Group | Median Savings* | Mean Savings | Benchmark (on $75K Salary) |
|---|---|---|---|
| Under 35 | $21,000 | $48,400 | $75,000 (1x at 30) |
| 35–44 | $61,000 | $182,400 | $225,000 (3x at 40) |
| 45–54 | $133,000 | $415,800 | $450,000 (6x at 50) |
| 55–64 | $239,000 | $670,200 | $600,000 (8x at 60) |
| 65–74 | $257,000 | $767,500 | $750,000 (10x at 67) |
| 75+ | $257,000 | $798,700 | Varies |
Note: these Federal Reserve figures cover all retirement accounts combined (401(k), IRA, and similar) as of the 2025 survey, and are conditional on the family holding a retirement account (about 45–63% of families do, depending on age — see Retirement Savings by Account Type). Households with $0 saved are excluded from the median shown here. For more recent, 401(k)-specific balances by age, see Average 401(k) Balance by Age, which uses Vanguard’s How America Saves 2024 report and Fidelity data — a narrower account type, so the two data sets are not directly comparable.
The mean is roughly 2.3 to 3.1 times the median across these age groups because a small number of very high earners skew the average upward. The median is the more useful number for most people — it represents the person in the exact middle of the distribution. By that measure, the typical 45–54 year old with a retirement account has saved $133,000 against a $450,000 benchmark — the benchmark is roughly 3.4 times the median. For more detail on the 40s specifically, see average 401(k) balance by 40 and average 401(k) balance by 50.
Retirement Savings Percentiles by Age — Where Do You Rank?
The median shows the midpoint, but where you actually stand depends on the full distribution. Based on the Federal Reserve’s 2025 Survey of Consumer Finances:
| Age Group | Share With an Account | 25th Percentile | Median (50th) | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Under 35 | 48.8% | $5,400 | $21,000 | $55,000 | $147,000 |
| 35–44 | 59.6% | $17,000 | $61,000 | $219,000 | $484,000 |
| 45–54 | 63% | $47,600 | $133,000 | $414,000 | $1,054,000 |
| 55–64 | 63.1% | $60,000 | $239,000 | $709,000 | $1,850,000 |
| 65–74 | 49% | $94,600 | $257,000 | $837,000 | $1,950,000 |
| 75+ | 44.6% | $68,000 | $257,000 | $978,000 | $2,200,000 |
Source: Federal Reserve, 2025 Survey of Consumer Finances, public data (2025 dollars), our calculation: weighted percentiles of the combined balance of all retirement accounts (401(k), 403(b), thrift, IRA and similar) among families that hold one, by age of the household head. Families with no retirement account are not included in the percentiles.
Contribution Limits for 2026
Maxing out available tax-advantaged accounts is the most reliable lever for accelerating retirement savings. The 2026 limits were set by the IRS based on inflation adjustments.
| Account | Under 50 | Age 50+ (with Catch-Up) |
|---|---|---|
| 401(k) / 403(b) | $24,500 | $32,500 in most plans (or $35,750 at ages 60-63) |
| Traditional / Roth IRA | $7,500 | $8,600 |
| SIMPLE IRA | $17,000 | $21,000 (or $22,250 at ages 60-63) |
| SEP IRA | 25% of compensation (max $72,000) | — |
A worker who maxes out both their 401(k) and a Roth IRA at age 50 can shelter $41,100 per year from taxes ($32,500 + $8,600). Over 15 years at a 7% average annual return, compounded monthly, $41,100 per year (about $3,425/month) compounds to roughly $1,086,000 — over a million dollars from contributions alone. Note that Roth IRA eligibility phases out at higher incomes; see Roth IRA income limits for the 2026 phase-out thresholds.
How Long It Takes to Reach $1 Million
Starting from $0, investing at a 7% average annual return (an illustrative assumption, not a guaranteed or typical result):
| Monthly Contribution | Years to $1M | Retirement Age (if starting at 30) |
|---|---|---|
| $500/month | ~36.4 years | Age 66.4 |
| $750/month | ~31.1 years | Age 61.1 |
| $1,000/month | ~27.5 years | Age 57.5 |
| $1,500/month | ~22.7 years | Age 52.7 |
| $2,000/month | ~19.6 years | Age 49.6 |
These projections assume consistent contributions with no gaps, a 7% annualized return, and no account for taxes on growth (Roth accounts grow tax-free as long as withdrawals are qualified; traditional 401(k) withdrawals are taxable income). The key insight: increasing monthly contributions from $500 to $1,000 cuts the timeline by 7 years. Time in the market matters enormously — someone who starts at 25 instead of 35 at $500/month (7% average annual return, monthly compounding) will have roughly $700,000 more by age 65 due to compounding ($1,312,000 vs. $610,000). For a more personalized look at whether your 401(k) contribution rate is on track, see is my 401(k) contribution enough.
Retirement Income Generated by Savings Balance
The 4% rule — developed by financial planner William Bengen using historical US stock and bond data — states that withdrawing 4% of your portfolio in year one, then adjusting for inflation annually, would have lasted at least 30 years in every past period he tested. It remains the most widely cited safe withdrawal benchmark.
| Savings at Retirement | Annual Income (4% Rule) | Monthly Income |
|---|---|---|
| $300,000 | $12,000 | $1,000 |
| $500,000 | $20,000 | $1,667 |
| $750,000 | $30,000 | $2,500 |
| $1,000,000 | $40,000 | $3,333 |
| $1,500,000 | $60,000 | $5,000 |
| $2,000,000 | $80,000 | $6,667 |
These figures represent income from savings only. In practice, most retirees also receive Social Security benefits, which averaged approximately $2,071 per month (~$24,850 per year) for a retired worker as of December 2025. The maximum Social Security benefit changes annually with the wage base and COLA — confirm the current maximum at ssa.gov. Adding even an average Social Security benefit to a $750,000 portfolio changes the retirement income picture from $30,000 to roughly $54,850 per year — a meaningful difference in livability. For a full explanation of how the 4% rule works and its limitations, see the safe withdrawal rate guide.
How Much Should I Have Saved by Age 65?
Age 65 matters because Medicare eligibility begins then, and many Americans target it as a retirement milestone — even though full Social Security retirement age is 67 for those born in 1960 or later.
Fidelity’s guidelines give 8x at 60 and 10x at 67; a straight-line estimate puts age 65 at about 9.4x your annual salary (Fidelity publishes no age-65 milestone).
| Annual Salary | Straight-Line Estimate at Age 65 (9.4x) |
|---|---|
| $50,000 | $470,000 |
| $60,000 | $564,000 |
| $75,000 | $705,000 |
| $90,000 | $846,000 |
| $100,000 | $940,000 |
| $120,000 | $1,128,000 |
The cost of retiring at 65 instead of 67: Claiming Social Security at 65 rather than waiting until full retirement age (67) permanently reduces your benefit by approximately 13.3%. On a $2,000/month full benefit, that is $267/month less — roughly $32,000 less over 10 years.
The median American family aged 65–74 with a retirement account has $257,000 saved. Against a $705,000 estimate on a $75,000 salary, that is a $448,000 gap. Working 2–3 additional years closes the gap on multiple fronts: more contributions, more compounding, fewer drawdown years, and a higher Social Security benefit.
Retirement Portfolio Asset Allocation by Age
As retirement approaches, shifting from growth-oriented stocks to capital-preserving bonds reduces the risk of a market crash wiping out a large portion of your savings right before or after you retire (called sequence-of-returns risk).
| Age | Stocks | Bonds | Notes |
|---|---|---|---|
| 25 | 90–95% | 5–10% | Maximum growth; decades to recover from downturns |
| 35 | 85–90% | 10–15% | Still primarily growth-focused |
| 45 | 75–80% | 20–25% | Gradual shift toward balance |
| 55 | 65–70% | 30–35% | Increasing preservation priority |
| 60 | 60–65% | 35–40% | Classic “60/40” portfolio territory |
| 65 | 50–60% | 40–50% | Capital preservation with inflation hedge |
| 70+ | 40–50% | 50–60% | Income-focused; sequence risk is highest here |
The “110 minus your age” rule: A commonly cited rule of thumb is to subtract your age from 110 — the result is one reference point for a stock allocation percentage. At 45 that is 65% stocks; at 62 that is 48% stocks. Newer versions of the rule use “120 minus age” to reflect longer life expectancies. These are starting points, not prescriptions — individual circumstances vary.
The practical reality: Retirement can last many years, so some portfolios keep a share in equities to help income keep pace with inflation. An all-bond or all-cash portfolio in retirement runs a serious long-term depletion risk.
If You’re Behind the Benchmark
Being below the Fidelity benchmark at your current age is more common than being on pace — in the Federal Reserve’s 2025 survey data, the median balance of account holders in every age group is below the benchmark on a $75,000 salary. The figures below are generalised reference points. What makes sense for your situation depends on your income, other assets, planned retirement age, and expenses. A fee-only financial planner can model a personalised plan.
1–2x salary multiplier below the Fidelity benchmark
- The numbers: At this gap, you may be modestly below pace but potentially within a recoverable range — particularly if you are in your 30s or 40s with significant compounding time ahead.
- What you may consider: Some savers at this stage find that incrementally raising their contribution rate — for example, by 1–2 percentage points at each pay raise — meaningfully narrows the gap over time. It may also be worth verifying that you are capturing your full employer 401(k) match, since unclaimed match is effectively foregone compensation.
- What to keep in mind: Temporary savings gaps are common during peak life-cost years (housing, children, student loans). Resuming or increasing contributions as soon as practical, rather than waiting for an ideal moment, is generally more effective than a single large catch-up.
3–4x salary multiplier below the Fidelity benchmark
- The numbers: A gap of this size is significant and typically requires more deliberate structural changes to materially close.
- What you may consider: Some people in this situation explore whether maxing available tax-advantaged accounts (the 2026 401(k) limit is $24,500; $32,500 at age 50+ in most plans (or $35,750 at ages 60-63)), extending their planned working years by 2–3 years, or supplementing income would change their trajectory. Each of these levers has different implications for your specific circumstances.
- What to keep in mind: A fee-only financial planner can model the impact of each variable — later retirement age, adjusted planned spending, Social Security timing — so you can make an informed decision rather than relying on general rules of thumb.
5x+ salary multiplier below the Fidelity benchmark
- The numbers: A gap at this level typically cannot be closed through contribution changes alone and warrants a more comprehensive review of retirement planning assumptions.
- What you may consider: Working with a fee-only financial planner — one who charges a flat fee rather than a commission — is often the most practical starting point for modelling scenarios including later retirement, adjusted spending levels, Social Security optimisation, and income-generating strategies.
- What to keep in mind: Fidelity’s benchmarks assume a specific retirement age, income replacement ratio, and return assumption. Someone planning a different retirement timeline, expecting a pension, or planning to significantly reduce spending in retirement may have a genuinely different appropriate target than the published multipliers suggest.
For workers who are behind in their 30s, see retirement mistakes to avoid in your 30s. For those approaching 50 with a significant gap, how long to save for retirement starting at 50 models specific catch-up scenarios.
For more benchmarks and milestone tracking, see savings milestones by age, wealth accumulation by age, financial milestones by age, average retirement savings, and how much to retire.
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