Solutions for Life!

How Much Should You Have Saved By 30, 40, or 50?

How Much Should You Have Saved By 30, 40, or 50?

We’ve all asked it at some point: “Am I saving enough for the future?” Whether you’re just getting started or already thinking about retirement, it helps to have some benchmarks. While everyone's financial journey is different, there are general savings milestones that can help guide you through each decade of life.

At ICCU, we're here to help you stay on track — and make your money work harder for you.

Savings Milestones by Age

By Age 30: Save 1x Your Annual Salary

Your 20s are often filled with big financial moves — starting your career, paying off student loans, and possibly buying your first home. But it’s also the ideal time to start building strong savings habits.

Goal: Aim to have the equivalent of one year’s salary saved by 30.
How:

  • Set up automatic transfers into a high-yield savings account

  • Create an emergency fund with 3–6 months of expenses

  • Contribute to a 401(k) or Roth IRA if available

By Age 40: Save 3x Your Annual Salary

Your 30s are all about growth — in your career, your family, and hopefully, your finances. Saving consistently during this decade can put you in a strong position for long-term stability.

Goal: 3x your annual salary saved
How:

  • Increase retirement contributions (aim for at least 15% of your income if possible)

  • Take advantage of employer matching programs

  • Avoid lifestyle inflation as your income grows

By Age 50: Save 6x Your Annual Salary

In your 40s and 50s, retirement is no longer a distant idea — it’s getting closer. This is your opportunity to catch up, especially if you got a late start.

Goal: 6x your annual salary saved
How:

  • Consider catch-up contributions to retirement accounts

  • Evaluate long-term goals like travel, healthcare, and housing

  • Eliminate high-interest debt that could hold you back

Remember — These Are Just Guidelines

Not everyone hits these milestones at the exact “right” age — and that’s okay. The important thing is to stay intentional, seek support, and adjust your plan as your life and priorities evolve.

Tools to Help You Save Smarter

At ICCU, we’re here to support your savings journey with:

  • Free savings calculators to plan your goals

  • Savings accounts designed to fit your lifestyle

  • Friendly, local advisors who can help you build your financial future

Start Today — Your Future Self Will Thank You

No matter your age or stage, the best time to start saving is today. Let ICCU help you make every dollar count.

Nicole Mozurkewich