How much money should I have in my 401K by now?

A good rule of thumb is to **add on one year of salary saved for every five years of age** — for example, at age 30 you'd want to have saved one year of salary, at age 35, two years, at age 40, three years, and so on.

How much should I have saved in my 401K by 35?

So, to answer the question, we believe having **one to one-and-a-half times your income saved for retirement by age 35** is a reasonable target. It's an attainable goal for someone who starts saving at age 25. For example, a 35-year-old earning $60,000 would be on track if she's saved about $60,000 to $90,000.

How much should a 30 year old have saved for retirement?

By age 30, you should have saved **an amount equal to your annual salary for retirement**, as both Fidelity and Ally Bank recommend. If your salary is $75,000, you should have $75,000 put away. How do you do that? “When starting your career, commit to automatic savings of 20% per year into your 401(k).

## Related Question How much money should be in my 401k?

### What's the average return on 401k?

What is a good 401(k) rate of return? The average 401(k) rate of return ranges from 5% to 8% per year for a portfolio that's 60% invested in stocks and 40% invested in bonds. Of course, this is just an average that financial planners suggest using to estimate returns.

### How fast does 401k double?

One of those tools is known as the Rule 72. For example, let's say you have saved $50,000 and your 401(k) holdings historically has a rate of return of 8%. 72 divided by 8 equals 9 years until your investment is estimated to double to $100,000.