This Is How Much You Should Have Saved According to Your Age

Are you behind or ahead of the average?

Photo by Blogging Guide on Unsplash

When it comes to your finances, everything is relative. Many people need a specific savings method to grow their savings, while others are more liberal and spontaneous with their income.

The problem with most financial advice is that it assumes everyone has the same starting point, income trajectory, and life circumstances. It doesn’t account for people who need to pay for college, help family members, or simply figure out what they want to do with their lives before they can focus seriously on saving.

But having some kind of roadmap is still valuable, even if it’s just a reference point rather than a strict rule. It helps you understand whether you’re generally on track or if you need to make some adjustments to reach your long-term financial goals.

So I decided to calculate realistic savings benchmarks based on a specific retirement target: reaching $1 million by age 60. This isn’t necessarily the right number for everyone, but it provides a concrete framework for understanding how much you should ideally have saved at different stages of your life.

And here I will show you how much you should have saved based on your current age if you want to retire as a millionaire, so…