This Retirement Savings Chart Will Make You Feel Terrible, but it Shouldn’t

It seems like nearly every day I read an article that bashes everyone for not having enough in retirement savings.

I’m all for pushing toward my financial goals, but honestly, just how realistic is the advice out there about how much we should have tucked away for retirement?

If you’re like me and feel guilty about your savings, I’m here to tell you that you’re not alone, and you shouldn’t feel guilty.

This Retirement Savings Chart Might Ruin Your Day

According to investment company Fidelity, the amount you have in your savings should correlate with your age and annual salary. Fidelity says it determines these amounts by “a yearly savings rate, a savings factor, an income replacement rate, and a potentially sustainable withdrawal rate to help you create your retirement roadmap.”

According to Fidelity’s chart, if you started 25 years old and want to retire at age 67 with the same lifestyle, you should have at least one year’s salary tucked away for retirement by the time you’re 30. From there, you should have two times your salary saved by 35, three times at 40, four times at 45 and so on until you have a whopping 10 times your salary saved when you retire at 67.

Here’s the chart:

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