Retirement savings by age chart

But how much is enough?

Our guideline: Aim to save at least 15% of your pre-tax income¹ each year, which includes any employer match.

Best way to save for retirement in your 50s

That's assuming you save for retirement from age 25 to age 67. Together with other steps, that should help ensure you have enough income to maintain your current lifestyle in retirement.

How did we come up with 15%?

First, we had to understand how much people generally spend in retirement. After analyzing enormous amounts of national spending data, we concluded that most people will need somewhere between 55% and 80% of their preretirement income to maintain their lifestyle in retirement.¹

Not all of that money will need to come from your savings, however.

Some will likely come from Social Security.

How to save for retirement in your 40s

How to save for retirement in your 40s

How much should i save for retirement per month

Retirement calculator

How to save for retirement at 30

Best way to save for retirement at 45

So, we did the math and found that most people will need to generate about 45% of their retirement income (before taxes) from savings. Based on our estimates, saving 15% each year from age 25 to 67 should get you there. If you are lucky enough to have a pension, your target savings rate may be lower.