- Nov 18, 2001
- 13,234
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I see varying figures online for the amount you should have saved for retirement by certain ages, so I'm wondering what most people here have. To keep it apples to apples, state your savings in multiples of your current salary. So if you make $50k/year now and you have $100k in retirement savings, state that you are [years] old and have 2x your salary in retirement savings.
As an example, this guy says you should have 1x your salary by 30: http://www.moneyunder30.com/how-much-in-401k-at-30. This seems kind of low to me, especially with the craziness of the market ups and downs in the past 5 years and the uncertainty going forward. I don't know if we'll see those "estimated" 8%+ returns that most 401k managers use as examples for the amount of money you should be saving.
As an example, this guy says you should have 1x your salary by 30: http://www.moneyunder30.com/how-much-in-401k-at-30. This seems kind of low to me, especially with the craziness of the market ups and downs in the past 5 years and the uncertainty going forward. I don't know if we'll see those "estimated" 8%+ returns that most 401k managers use as examples for the amount of money you should be saving.