Is My 401(k) On Track?
Formula_401(k)The table comes from a study conducted last year by Fidelity Investments. Its experts made some midrange assumptions about investment returns and spending needs in retirement, and came up with these guidelines for how much you should have salted away.
If you are making $100,000 at age 35, you should have that much in your retirement account. If you retire from a $200,000 job at age 67, you should have $1.6 million.
age 35 1X Salary age 45 3X Salary age 55 5x Salary……………..Are you even close???