Moneywise

Thu, Jun 19, 2025, 5:04 AM5 min read

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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.

One way to deal with this anxiety is to check whether your retirement savings are on track depending on your age and income.

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Financial giant T. Rowe Price has published retirement savings benchmarks to aim for depending on age and salary. They can help you understand whether you’re on track, or behind, and motivate you to take action if necessary.

Here’s a closer look at those suggested figures.

T. Rowe Price suggests having 1x to 1.5x your annual income saved by your mid-to-late 30s.

That means if you earn $70,000 annually, you should have from $70,000 to $105,000 in financial assets to be on track for a comfortable retirement.

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, this period can involve some of your biggest expenses, such as buying a house or starting a family.

Once you’re in your 50s, T. Rowe Price suggests you should have 3.5x to 5.5x your annual income saved. For example, if your annual income is $100,000, you need up to $550,000 saved in total assets.

They also suggest ramping up your yearly savings rate to 15% of your income or more.

As you increase the amount you’re saving and investing, it’s important to diversify your assets. Diversification is the cornerstone of a robust investing strategy because it helps protect you from any one investment dropping in value.

One way to diversify is with gold. And a key benefit of investing in precious metals with gold IRA is that they provide significant tax advantages. When you open a gold IRA with American Hartford Gold, you can help you stabilize your finances by investing directly in the physical asset metals rather than stocks and bonds.