Fidelity Says You Need 2 Years Pay Saved By Age 40 For A Comfortable Retirement

09.13.12 | Sarah Harnisch

Fidelity Investments has just put out their latest savings guidelines to help you be prepared for retirement. They say if you're 40, and you want to keep up the same standard of living when you're 65, you should have 2 years income saved per wage earner. You should have 4 times your salary saved by age 50, 5 times by 55, and 6 times by 60. In that scenerio, someone with a 60-thousand dollar salary should have 240-thousand dollars in savings by age 50 to be on track. They say if you can save 8 times your income by age 67, you'll have what you need to maintain your quality of life long after you're unable to work.