How Much Should You Have Saved by Age 35?
Target: 2x your annual salary ($130,000 on $65,000 income)
Quick Answer
By age 35, financial experts recommend having 2x your annual salary saved for retirement. On a median salary of $65,000, that is $130,000. The actual US median at this age is $60,000 — meaning most Americans are about 54% behind the target.
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Catch-Up Strategy for Age 35
You should have twice your salary saved. If behind, aggressively cut discretionary spending and consider a side income stream to boost savings by $500-$1,000/month.
Retirement Savings Milestones by Age
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Frequently Asked Questions
How much should I have saved for retirement by age 35?
By age 35, financial experts recommend having 2x your annual salary saved. For someone earning the median income of $65,000, that is approximately $130,000.
What is the average retirement savings at age 35?
The median retirement savings for Americans around age 35 is approximately $60,000. However, this is significantly below the recommended target of $130,000 (2x salary).
How can I catch up on retirement savings at 35?
You should have twice your salary saved. If behind, aggressively cut discretionary spending and consider a side income stream to boost savings by $500-$1,000/month.
How much should I save monthly at age 35?
To reach the recommended 10x salary ($650,000) by age 65, starting from the median savings of $60,000, you would need to save approximately $134/month assuming a 7% annual return.