There is no single "right" 401k balance for your age. Your pay, your plans and your other savings all matter. But a few benchmarks can tell you whether you are roughly on track, and what to do if you are not.
A common rule of thumb
Fidelity, one of the largest 401k providers, publishes a widely quoted guideline. It says to aim to have saved:
| By age | Savings as a multiple of your yearly pay |
|---|---|
| 30 | 1 times |
| 40 | 3 times |
| 50 | 6 times |
| 60 | 8 times |
| 67 | 10 times |
So if you earn $75,000, the guide suggests about $75,000 saved by 30, $225,000 by 40 and $450,000 by 50.
What the guideline assumes
These numbers are not magic. Fidelity says they assume that you:
- start saving at 25;
- save 15% of your income every year, including any employer match;
- invest more than half of your savings in stocks on average over your lifetime;
- retire at 67; and
- want to keep roughly the same lifestyle in retirement.
If you plan to retire earlier, you will usually need more, because your savings must last longer and Social Security starts later. If you expect a very different lifestyle, your own number will differ.
What if you are behind?
Most people are not exactly on the guide, and that is normal. The good news is that small changes add up.
- Get the full employer match first. It is free money. Use our employer match calculator to see if you are leaving some behind.
- Raise your savings rate by 1% each year. You will barely notice the change in your paycheck, and over time it makes a large difference.
- Use catch-up contributions if you are 50 or older. In 2026 you can add $8,000 on top of the normal $24,500 limit, or $11,250 if you are 60 to 63. See our 2026 limits.
- Think about the retirement age. Each extra year of work adds savings and shortens the time they must last.
- Count Social Security. It will cover part of your income, so your 401k does not have to do everything.
How to use these numbers well
Treat the table as a signpost, not a test. Use it to ask: Am I close? If not, which lever is easiest to pull? Then run your own numbers in the 401k calculator or the retirement planner, which shows how much you may need and how much more to save.
A few cautions
- Benchmarks use your pay, not your spending. If you spend much less than you earn, you may need less.
- They are based on assumptions about markets and inflation. Real life will differ.
- They cover your 401k and similar savings, not your home, other investments or any pension.
Sources
This article is for education and is not financial, tax or legal advice. Figures are checked against the sources above and may change. Read the full disclaimer.