fidelity how much should i have saved
They break the saving retirement goals by the amount of your current salary you should have saved up: For example, by age 35, Fidelity suggests that you should have saved 1X your current salary, then 3X by 45, and 5X by 55.y retirement age, you should have at least 8 times your ending salary. This will help you replace 85% of your pre-retirement income, which is a better rule than saving up a million dollars.
When I meet with clients they are often quite distressed. They hear things in the media about how they should have over a million dollars saved up and with $150,000 in their account and 5 years until retirement they think it is the end of the world. The same study talks about how to estimate how much capital will be required to generate this stream of income.