Average Savings by Age: How Much at 25, 30, 35 and 40?
How much should you have in savings at 25, 30, 35 and 40? There is no single correct number, but savings by age benchmarks help you see if you are on track. This guide covers two kinds of savings: your emergency fund and your retirement savings, with clear examples.
Quick answer
A common guideline is to have an emergency fund of 3 to 6 months of expenses at any age, plus retirement savings of about 1x your salary by 30, 2x by 35 and 3x by 40. On a $60,000 salary that means about $60,000 saved for retirement by 30 and $180,000 by 40.
Two kinds of savings
- Emergency savings: cash for surprises, usually 3 to 6 months of essential expenses, kept in a savings account.
- Retirement savings: long-term money in a 401(k), IRA or similar account, invested for growth.
Savings by age: benchmarks
| Age | Retirement savings guideline | Emergency fund |
|---|---|---|
| 25 | Getting started; aim for 0.5x salary | 3 months of expenses |
| 30 | 1x salary | 3 to 6 months |
| 35 | 2x salary | 3 to 6 months |
| 40 | 3x salary | 3 to 6 months |
| 45 | 4x salary | 3 to 6 months |
| 50 | 6x salary | 6 months |
| 60 | 8x salary | 6 months or more |
| 67 | 10x salary | 6 months or more |
Average savings by age: Federal Reserve data
The benchmarks above are targets. Here is what American households actually keep in checking, savings and money market accounts, from the Federal Reserve’s Survey of Consumer Finances. The median is the middle household; the average (mean) is pulled up by a small number of very large balances, so the median is the better guide to what is typical.
| Age of household head | Median balance | Average balance |
|---|---|---|
| Under 35 | $5,400 | $20,540 |
| 35–44 | $7,500 | $41,540 |
| 45–54 | $8,700 | $71,130 |
| 55–64 | $8,000 | $72,520 |
| 65–74 | $13,400 | $100,250 |
| 75 and older | $10,000 | $82,800 |
These age figures come from the 2022 survey, the latest with a breakdown of bank balances by age. The newer 2025 survey puts the overall median at about $8,200 for families with these accounts, so the picture has barely changed.
What this means for you: if you are 25 or 30 with a few thousand dollars saved, you are close to the typical household under 35. Being “average” is not the goal, though: a median of $5,400 covers only one or two months of expenses for most people, which is why the emergency fund benchmark above matters more than the comparison.
Example on a $60,000 salary
| Age | Retirement target | Emergency fund ($3,000/month of essentials) |
|---|---|---|
| 30 | $60,000 | $9,000 to $18,000 |
| 35 | $120,000 | $9,000 to $18,000 |
| 40 | $180,000 | $9,000 to $18,000 |
These are rough guides that assume you keep saving and retire around 67. If you plan to retire earlier, or expect a pension, your numbers will be different.
Behind? How to catch up
- Raise your retirement contribution by 1% of salary each year until you reach at least 10% to 15% (including any match).
- Make sure you get the full employer 401(k) match.
- Use catch-up contributions from age 50.
- Cut high-interest debt, which slows every other goal.
- Use our retirement savings calculator to see what your current plan could reach.
What savings by age means for you
- Benchmarks are a compass, not a grade. Starting late is common, and small changes add up.
- Build your emergency fund first so a surprise does not undo your retirement saving.
- Compare yourself to your own past, not to averages.
Frequently asked questions
How much should I have saved at 25?
A good start is an emergency fund of about 3 months of expenses and a retirement account you contribute to regularly, ideally enough to get any employer match. Many people aim for about half a year’s salary by 25 to 30.
How much should I have saved at 30?
A widely cited guideline is about 1x your yearly salary in retirement savings by 30, plus an emergency fund of 3 to 6 months of expenses.
How much should I have saved at 40?
About 3x your salary in retirement savings is a common benchmark. On $60,000 a year that is roughly $180,000.
Do these numbers include my house?
No. Retirement benchmarks usually count retirement and investment accounts, not home equity.
What if I am far behind?
Focus on what you can control: increase contributions, capture any match, reduce high-interest debt and keep going. A few extra percent of salary each year can make a big difference.
Related guides and calculators
- Retirement savings by age
- Emergency fund calculator
- Starting to save at 25 vs 35
- Retirement savings calculator
Sources
- Fidelity: How much do I need to retire?
- IRS: Retirement plans
- Consumer Financial Protection Bureau (CFPB)
- Federal Reserve: Changes in U.S. Family Finances from 2022 to 2025 (Survey of Consumer Finances)
- Bankrate: Average savings account balance by age (2022 SCF data)
- MonetaryReports: How we calculate
This guide is for educational purposes only and is not financial advice. The figures are estimates before taxes, fees and inflation, and real rates, returns and rules change over time.
