How Much Should You Have Saved by Age 30?
Target: 1x your annual salary ($65,000 on $65,000 income)
Quick Answer
By age 30, financial experts recommend having 1x your annual salary saved for retirement. On a median salary of $65,000, that is $65,000. The actual US median at this age is $33,000 — meaning most Americans are about 49% behind the target.
Savings Benchmark Comparison
Catch-Up Strategy for Age 30
Aim to have 1x your salary saved by now. If you are behind, increase contributions by 1% each year and avoid lifestyle inflation. Automating savings is the most effective strategy at this stage.
Retirement Savings Milestones by Age
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Frequently Asked Questions
How much should I have saved for retirement by age 30?
By age 30, financial experts recommend having 1x your annual salary saved. For someone earning the median income of $65,000, that is approximately $65,000.
What is the average retirement savings at age 30?
The median retirement savings for Americans around age 30 is approximately $33,000. However, this is significantly below the recommended target of $65,000 (1x salary).
How can I catch up on retirement savings at 30?
Aim to have 1x your salary saved by now. If you are behind, increase contributions by 1% each year and avoid lifestyle inflation. Automating savings is the most effective strategy at this stage.
How much should I save monthly at age 30?
To reach the recommended 10x salary ($650,000) by age 65, starting from the median savings of $33,000, you would need to save approximately $150/month assuming a 7% annual return.