We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.
Most Americans are worried about money, especially when it comes to retirement.
A 2025 survey by Capital One and The Decision Lab found that 77% of U.S. adults feel anxious about their personal finances.
One way to deal with this anxiety is to check whether your retirement savings are on track depending on your age and income.
Don’t miss
- I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
- Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
- Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10
Financial giant T. Rowe Price has published retirement savings benchmarks to aim for depending on age and salary. They can help you understand whether you’re on track, or behind, and motivate you to take action if necessary.
Here’s a closer look at those suggested figures.
How much you should have saved in your 30s
T. Rowe Price suggests having 1x to 1.5x your annual income saved by your mid-to-late 30s.
That means if you earn $70,000 annually, you should have from $70,000 to $105,000 in financial assets to be on track for a comfortable retirement.
Your 30s are a critical time to start building momentum with your savings. On one hand, your income is probably accelerating as you start to make strides in your career. On the other, this period can involve some of your biggest expenses, such as buying a house or starting a family.
Those types of big costs can make it more difficult to save. But with platforms like Acorns, you don’t even have to think about it.
Every time you make a purchase on your credit or debit card, Acorns automatically rounds up the price to the nearest dollar and places the excess into a smart investment portfolio. That way, even your essential spending translates to money saved for the future.
When you sign up now, you can get a $20 bonus investment.
How much you should have saved in your 50s
Once you’re in your 50s, T. Rowe Price suggests you should have 3.5x to 5.5x your annual income saved. For example, if your annual income is $100,000, you need up to $550,000 saved in total assets.
They also suggest ramping up your yearly savings rate to 15% of your income or more.
As you increase the amount you’re saving and investing, it’s important to diversify your assets. Diversification is the cornerstone of a robust investing strategy because it helps protect you from any one investment dropping in value.
One way to diversify is with gold. And a key benefit of investing in precious metals with gold IRA is that they provide significant tax advantages. When you open a gold IRA with American Hartford Gold, you can help you stabilize your finances by investing directly in the physical asset metals rather than stocks and bonds.
You can often roll over existing 401(k) or IRA accounts into a gold IRA without tax-related penalties. To learn more, get your free 2025 information guide on investing in precious metals. Qualifying purchases can also receive up to $20,000 in free silver.
Another way to diversify is by investing in real estate. Homeshares provides accredited investors with access to the $34.9 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors.
With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property.
Homeshares offers risk-adjusted target returns ranging from 12% to 18%, and is an effective, hands-off way to invest in owner-occupied residential properties across regional markets.
Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
How much you should have saved in your 60s or near retirement
According to T. Rowe Price, the average 60-something needs between 7.5x to 13.5x their annual salary in net assets to retire comfortably. This means if you’re earning $120,000 you may need up to $1.62 million saved in total wealth to consider leaving the workforce.
Keep in mind that these benchmarks are general rules of thumb based on a 4% withdrawal per year in retirement. Your target could be very different from T. Rowe Price’s suggestions depending on your retirement goals. That’s why it can be worth meeting with a qualified financial advisor, who can ensure you have a personalized plan for your unique retirement goals.
With Advisor.com, you can find a trusted partner to guide you every step of the way.
Advisor.com matches you with vetted financial advisors that offer personalized advice to help you to make the right choices, invest wisely, and secure the retirement you’ve always dreamed of. Start planning early, and get your retirement mapped out today.
What to read next
- JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it’s too late)
- This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs
- Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
- How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement
Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
