Fidelity Sets 401(k) Targets at 1x Salary by 30 and 10x by 67
Updated
Updated · FinanceBuzz · May 14
Fidelity Sets 401(k) Targets at 1x Salary by 30 and 10x by 67
4 articles · Updated · FinanceBuzz · May 14
Fidelity told savers to benchmark retirement progress against salary multiples—1x by age 30, 3x by 40, 6x by 50, 8x by 60 and 10x by 67.
Median balances trail averages sharply, suggesting typical workers hold less than headline figures imply: $43,192 in their 20s, $78,857 in their 30s, $156,675 in their 40s, $246,554 in their 50s and $187,249 in their 60s.
Average balances are much higher—$116,872 for workers in their 20s, $212,356 in their 30s, $409,686 in their 40s, $629,000 in their 50s and $576,755 in their 60s—because large accounts skew the data.
Workers aged 60 to 63 can still boost savings through super catch-up contributions, adding $11,250 above normal 401(k) limits.
Fidelity said the benchmarks are only a guide because retirement income can also come from IRAs, HSAs, Social Security, businesses or rentals, making personalized planning important.
With rising costs and new rules, are Fidelity’s retirement benchmarks still realistic for most Americans—or are they setting us up for disappointment?
How will the 2026 Roth catch-up requirement for high earners reshape retirement strategies, and what alternatives exist if your employer lacks a Roth option?