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What is the retirement savings target at age 50?
Fidelity’s age-based guideline is to have six times your current annual income saved by age 50. The surrounding milestones are one times income by 30, three times by 40, eight times by 60, and 10 times by 67. Fidelity calls these milestones aspirational goalposts for a savings plan, not a guarantee of an adequate retirement balance.
The calculation uses current income as the reference point. For example, if you earn $100,000 a year at 50, six times income is $600,000. That is an illustration of the multiplier, not a universal dollar target; someone with a different income will get a different figure.
What assumptions sit behind Fidelity’s benchmark?
The multiplier comes from a hypothetical planning model. Fidelity’s guideline assumes a person:
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- Saves 15% of income each year starting at age 25, including employer contributions.
- Invests, on average, more than 50% of savings in stocks over a lifetime, with an age-based asset allocation.
- Retires at 67 and plans through age 93.
- Aims to maintain their pre-retirement lifestyle, with savings replacing 45% of pre-retirement income; the methodology does not include pension income in the multiplier.
The methodology also assumes constant real wage growth of 1.5% and uses simulations designed for a 90% modeled success level. Those are inputs to a hypothetical analysis, not a promise that an individual account will achieve a particular result. If your savings began later, your contribution rate is lower, your investments differ, or your retirement plans diverge from these assumptions, your personal target may not match the six-times figure.
How to judge whether you are on track at 50
Compare your savings with the benchmark, then test the parts of your plan that the age-only multiple cannot capture. A more useful assessment includes:
- Retirement timing: Retiring before 67 generally means less time to save and a longer period to fund. Working longer can give savings more time to grow, shorten the retirement period, and may increase Social Security benefits.
- Expected spending: A plan to spend less than you do now may call for a lower target; maintaining or increasing your current lifestyle can require more savings.
- Other income: Consider expected Social Security and any pension income when estimating how much your savings must cover. Fidelity’s multiplier methodology excludes pension income.
- Ongoing contributions: Check how much of your income you are saving each year, including employer contributions. Fidelity suggests saving at least 15% of pre-tax income annually, counting employer contributions.
These factors help explain why being above six times income does not automatically mean you can retire, and being below it does not by itself establish that you are behind. The benchmark is a starting comparison; your expected expenses, income sources, and timeline determine whether the plan works for you.
What population statistics can—and cannot—tell you
Fidelity reported an average overall savings rate of 14.4%, including employer match, among participants in its reported workplace plans in Q2 2026. That dataset covered 26,800 corporate defined-contribution plans and 25.6 million participants as of March 31, 2026, and excluded the tax-exempt market. It describes savings rates within those plans, not age-50 account balances or a representative target for U.S. households.
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The Federal Reserve’s 2025 report on 2024 household data found that 70% of adults ages 55–64 had a tax-preferred retirement account, while 35% of non-retirees overall thought their retirement savings were on track. These figures measure account ownership in one age band and self-assessed readiness among non-retirees, respectively. Neither tells an individual 50-year-old how much they need.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Ways to build savings after 50
If your balance is below the guideline, focus on actions that fit your budget and retirement plan rather than treating the multiplier as a pass-or-fail test. Fidelity recommends an annual savings rate of at least 15% of pre-tax income, including employer contributions. You can review your contribution rate, planned retirement date, projected spending, and expected income sources together to see where an adjustment could help.
For 2026, Fidelity reports catch-up contribution limits of up to $8,000 for workplace-plan participants ages 50–59 and 64 or older, and up to $11,250 for those ages 60–63. It also reports an additional $1,100 for IRA and HSA contributions for eligible people age 50 and older. These are 2026 figures; eligibility, plan terms, and tax rules apply, so confirm the current rules before contributing.
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Sources and further reading
- Fidelity: How much do I need to retire?
- Fidelity: Top 3 questions about saving for retirement
- Fidelity: Average retirement savings by age
- Federal Reserve: Report on the Economic Well-Being of U.S. Households in 2024: Savings and Investments
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