Vishesh Raisinghani
5 min read
Most Americans are worried about money, especially when it comes to retirement.
A 2025 survey by Capital One and The Decision Lab found that 77% of U.S. adults feel anxious about their personal finances. A separate Allianz Life survey reveals that 64% of adults fear outliving their savings more than death itself.
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One way to deal with this anxiety is to check whether your retirement savings are on track depending on your age and income.
Analysts at financial giant T. Rowe Price published retirement savings benchmarks to aim for depending on age and salary. Having ballpark figures to aim for at different periods in life can help you understand whether you’re on track or behind and motivate you to take action.
Here’s a closer look at the figures suggested by the T. Rowe Price team.
Your 30s are a critical time to start building momentum with your savings. On one hand, your income is probably accelerating as you start to make strides in your career. On the other hand, this is also a period that involves some of your biggest expenses, such as buying a house or starting a family. For example, the median age of a first-time homebuyer is 38, according to the National Association of Realtors.
These big-ticket expenses could make it difficult to save any of your income. However, you also have the luxury of time, which means you have multiple decades of saving, investing and compounding wealth to look forward to, so your money still has plenty of time left to grow.
T. Rowe Price suggests having 1x to 1.5x your annual income saved by your mid-to-late 30s to stay on track for retirement. That means if you earn $70,000 each year, you need at least $70,000 to $105,000 saved in financial assets to be on track for a comfortable retirement.
The average 50-year-old probably has a more established career, a lower mortgage and adult children that don’t need as much financial assistance. In general, this is a great time to double down on your savings and investments to get to your retirement goal as early as possible.
