Retirement Savings By Age: The 2026 Benchmarks

The Fidelity Salary Multiplier Benchmarks

Fidelity's widely-cited framework recommends the following savings targets, expressed as multiples of current salary:

Age	Savings Target	On $70k Salary	On £50k Salary
30	1× salary	$70,000	£50,000
35	2× salary	$140,000	£100,000
40	3× salary	$210,000	£150,000
45	4× salary	$280,000	£200,000
50	6× salary	$420,000	£300,000
55	7× salary	$490,000	£350,000
60	8× salary	$560,000	£400,000
67	10× salary	$700,000	£500,000

These assume saving 15% of gross income annually (including employer match), retiring at 67, and replacing 45% of pre-retirement income from savings (the rest from Social Security or UK State Pension).

What Households Actually Have Saved (2026 Data)

Real balances lag the targets significantly. US median retirement savings by age (Survey of Consumer Finances, latest data):

• Under 35: $18,800
• 35–44: $45,000
• 45–54: $115,000
• 55–64: $185,000
• 65–74: $200,000

UK median pension pots (ONS Wealth & Assets Survey):

• Age 35–44: £14,500
• Age 45–54: £30,000
• Age 55–64: £62,000

Most households are dramatically behind the Fidelity benchmarks. Averages are pulled higher by a minority of high-balance accounts. If you are close to the benchmark, you are ahead of the majority.

By Age 30: Build the Foundation

Target: 1× annual salary. The single biggest lever in your 20s is starting early. Someone saving $300/month from age 22 has more at 65 than someone saving $600/month from age 32 (at 8% return).

Priority actions by 30:

• Capture every dollar of employer match (free money)
• Build a 3-month emergency fund
• Pay off credit card debt
• Open a Roth IRA — contribute whatever you can (even $50/month)

By Age 40: The Acceleration Phase

Target: 3× annual salary. You have now been earning a decade, income has grown, and every raise should go partly to savings. Aim for a 15% savings rate including match.

If behind, the catch-up priorities at 40:

• Max the 401(k) match — still the biggest free money available
• Fund Roth IRA to the annual limit ($7,000 in 2026)
• Open an HSA if eligible (triple tax advantage)
• Pay off any non-mortgage debt
• Keep housing cost under 28% of gross income

By Age 50: The Catch-Up Years

Target: 6× annual salary. The US tax code allows catch-up contributions at 50+: additional $7,500 into 401(k) and additional $1,000 into IRA. That is $31,000 + $8,000 = $39,000/year of tax-advantaged space per person. For a couple, $78,000/year.

At this age, focus on:

• Max catch-up contributions if you can
• Shift asset allocation gradually toward more bonds
• Estimate Social Security benefits via ssa.gov
• Run retirement projections annually

By Age 60: The Glide Path

Target: 8× annual salary. Within 5–7 years of retirement, investment allocation should de-risk to absorb market shocks. The "sequence of returns risk" — a crash in the first 5 years of retirement — is the biggest threat to a portfolio that has to produce income.

Critical actions at 60:

• Hold 2–3 years of expenses in cash or short bonds
• Delay Social Security to 70 if possible — benefit increases 8% per year you delay past 67
• Plan Roth conversions in low-income years between retirement and RMDs (age 73)
• Consider long-term care insurance

How To Catch Up If You Are Behind

If you are behind the benchmarks, the math is demanding but not impossible. On $80,000 salary, age 45, $50,000 saved:

• Save 25% of income ($20,000/year) at 7% return → $780,000 at 65
• Save 30% of income ($24,000/year) at 7% return → $950,000 at 65

Three levers to save more: cut housing cost (rent a cheaper place, refinance, downsize), cut car cost (drive used for 10+ years), and avoid lifestyle creep on raises (save 50%+ of every raise). Income matters more than investing genius for most people.

The UK-Specific Picture

The UK Pensions and Lifetime Savings Association (PLSA) publishes "Retirement Living Standards" rather than salary multiples:

• Minimum: £14,400/year for a single retiree (£22,400 couple)
• Moderate: £31,300/year single (£43,100 couple)
• Comfortable: £43,100/year single (£59,000 couple)

Full UK State Pension in 2026 is approximately £11,500/year. To close the gap to "moderate" retirement, a single person needs roughly £400,000 in a pension pot (4% withdrawal rule).