Find Out How Your Retirement Savings Compares To Others
Compare Your Retirement Savings With Others in Your Age and Salary Range
If you're interested in comparing how well you've done so far saving for retirement, check out the following table to see how you compare to others in your age and salary group. Just remember, these are averages, not recommended savings. We recommend that you beat all the numbers on this chart before you feel satisfied. Also, see our table with how much money you need to retire for more stats.
|
Age Group |
|||||
| Salary Range | 20s | 30s | 40s | 50s | 60s |
| $20k - $40k | $9,069 | $25,785 | $42,182 | $57,168 | $48,914 |
| $40k - $60k | 17,996 | 41,922 | 61,538 | 76,920 | 83,180 |
| $60k - $80k | 33,941 | 70,735 | 94,162 | 117,964 | 140,167 |
| $80k - $100k | 45,534 | 104,018 | 150,166 | 182,656 | 223,936 |
| $100k & up | 47,525 | 132,395 | 229,878 | 297,250 | 323,711 |
Source: EBR/ICI Participant Directed Retirement Plan Data Collection Project
Retirement planning is something everyone knows they need to do, but very few take the time to plan accordingly. Fortunately, we have a simple plan to help you achieve your retirement goals. Simply stated, you should SAVE and INVEST your money!
Wow, that sounds so simple, but it is much harder than it sounds to do. The first thing you need to do is to read the rest of our site, go through the rules of financial management and learn how to take control of your finances. Create your household budget worksheet, and turn your monthly savings into a positive number, then increase it each month. Take the money you save and invest it each week. If it doesn't seem like much, don't get discouraged, just keep saving and investing it. If you don't do this, you will regret it and worry about it for the rest of your life. It's never too late to start.
With that said, retirement planning involves a lot more than just saving your money. You need to know what to plan for and how to invest your money at different ages. We may go into more detail on this subject later on this site, but if not we recommend that you check out this site on retirement planning for more detailed information.
