 TITLE: How Much You Should Have Saved for Retirement by Age CONTENT: How Much Money You Should Have Saved at Every Age\n-------------------------------------------------\nFirst, it can be useful to get an overall picture of what's ideal when it comes to retirement savings goals.\nExperts have various approaches to the common question of how much to save for retirement in total. Investment firm Fidelity recommends saving enough to cover 45% of your gross preretirement income per year, since the rest of your income in retirement will likely come from Social Security.\nThat means if you earn $50,000 per year right now, plan to save enough by retirement age to cover $22,500 in expenses each year you're retired. Many elements can affect this calculation, including the age you plan to retire and the kind of lifestyle you want after your working years.\nIt's also often difficult to plan using raw numbers, since your income and standard of living may fluctuate over your lifetime. Fidelity has created savings guidelines that track your income, rather than a total savings goal, so that you can identify retirement readiness decade by decade. Here are Fidelity's recommendations:\n*   **By age 30:** Have the equivalent of your current annual salary saved. If you earn $50,000, you should have $50,000 saved for retirement at this age.\n*   **By age 40:** Have three times your annual salary saved. If you earn $50,000, you should plan to have $150,000 saved for retirement by 40.\n*   **By age 50:** Have six times your annual salary saved.\n*   **By age 60:** Have eight times your annual salary saved.\n*   **By age 67:** Have 10 times your annual salary saved. END