 TITLE: How Much Money Should I Be Saving? CONTENT: How Much You Should Have Saved by Now\n-------------------------------------\nAnother way to approach how much money you should save is to consider your age bracket. If you're eyeing retirement savings, here are rough estimates of how much you should be putting into retirement savings by decade, based on the average annual U.S. wage of $53,490 in May 2019:\n*   1x your salary by age 30, or $53,490\n*   3x your salary by age 40, or $160,470\n*   6x your salary by age 50, or $320,940\n*   8x your salary by age 60, or $427,920\nIn addition to your retirement savings, it's important to sock away some money you can easily pull out to cover expenses. To give you a sense of how much Americans in your age group have put aside in savings, here are the results of a 2020 study by wealth management company Personal Capital offering a breakdown of median non-retirement savings balances:\n*   20s: $3,740\n*   30s: $8,524\n*   40s: $10,611\n*   50s: $11,228\n*   60s: $15,193\nThese numbers can serve as a guide for your savings objectives, but they shouldn't dictate how much money you put away to meet those objectives. Your savings targets should match your financial position. END