How much should I actually have saved by now?
Fidelity's widely-cited benchmarks: 1× your salary by 30, 3× by 40, 6× by 50, 8× by 60, 10× by retirement. These are rough targets, not law. Your number depends on your desired lifestyle, Social Security expectations, and whether you have a pension. But if you're significantly behind these markers, this calculator will show you exactly how much closing the gap costs per month and it's usually less than people fear.
What is the 4% rule and how does it affect my target?
The 4% rule says you can withdraw 4% of your portfolio in year one of retirement, then adjust for inflation each year, with a high probability your money lasts 30 years. So if you want $60,000/year in retirement, you need $1.5 million (60,000 ÷ 0.04). It uses that rule to calculate your target. It's not guaranteed, sequence-of-returns risk is real, but it's the most battle-tested retirement planning benchmark we have.
Is my employer match really free money?
Yes and not contributing enough to get the full match is one of the most common and expensive financial mistakes people make. A 50% match up to 6% of a $75,000 salary is $2,250/year of free money. Over 30 years at 7% growth, that's over $220,000. If you're not contributing at least enough to capture the full match, that's the first thing to fix, before paying off low-rate debt, before an emergency fund, before anything else.
Should I contribute to a traditional 401k or Roth?
Traditional 401k: you contribute pre-tax now, pay taxes on withdrawals in retirement. Roth: you pay taxes now, withdrawals are tax-free. The general rule: if you expect to be in a higher tax bracket in retirement than you are now (common for younger, lower-earning workers), Roth wins. If you're in your peak earning years and expect a lower bracket in retirement, traditional often wins. Many people benefit from having both, tax diversification is underrated.
What return rate should I use?
The S&P 500 has returned about 10% annually before inflation, roughly 7% after. We default to 7% as a conservative real return. If you're heavily in bonds or target-date funds as you approach retirement, 5–6% may be more realistic. Don't use 10%+ for long-term projections. It makes the numbers look great but sets unrealistic expectations. The closer you are to retirement, the more conservative your assumption should be.
What about Social Security?
It focuses on your personal savings and doesn't include Social Security, because benefit amounts vary widely based on your earnings history and claiming age. The average Social Security benefit in 2025 is around $1,900/month, but yours could be significantly higher or lower. Check your actual projected benefit at ssa.gov, then subtract that from your desired retirement income to find your true savings target.