How much should you really have saved by 40, 50, and 60?
Benchmarks are useful, but the right number depends on your lifestyle, location, and timeline.
Industry rules of thumb suggest having 3x your salary saved by 40, 6x by 50, and 8–10x by 60. They're a starting point — not a verdict.
Why the rules of thumb miss: these benchmarks assume you'll spend 80% of pre-retirement income, retire at 67, and collect average Social Security. If any of those assumptions is off — and for most people at least one is — the number changes dramatically.
Someone planning to retire at 55 in a high cost-of-living city needs far more than the benchmark. Someone planning to work part-time into their 70s in a paid-off home needs far less.
A better starting point: estimate your annual retirement spending in today's dollars. Multiply by 25. That's a working target for a 30-year retirement using the classic 4% withdrawal framework. Then back into how much you need to save monthly to get there given your current balance, expected return, and years left.
This is the core of every real retirement plan. Anything more precise requires modeling Social Security, pensions, healthcare, and tax location — which is where a planner earns their fee.
Talk to a real retirement advisor
Financial and retirement planning is handled by BeWealth. Book a free strategy call directly with their advisors.
BeWealth — financial & retirement · Free · No obligation
More on retirement
Roth vs. Traditional: choosing the right bucket in your 30s and 40s
A simple framework to decide where each new dollar of retirement savings should go.
The 4% rule is dead. Here's what advisors are using now.
Dynamic withdrawal strategies that adapt to markets and your real spending.
Maxing your 401(k) match — and what to do after
The order of operations for retirement contributions when cash flow is tight.
Social Security: when to claim if you actually want to optimize
Why claiming at 62 costs more than most people realize, and when it's the right call.
Building a tax-efficient retirement income plan
How to coordinate Social Security, RMDs, and brokerage withdrawals to minimize lifetime tax.