Retirement Savings by Age: How Much Should You Have?
"Am I on track?" is the question every saver asks. A simple way to check is to compare your savings to a multiple of your salary at each age.
Here are the common milestones, what they mean, and how to catch up if you're behind.
The Salary-Multiple Milestones
Financial planning firms often use this rough guide: have 1× your salary saved by 30, 3× by 40, 6× by 50, and 8× by 60.
For someone earning 15,000 riyals a month (180,000 a year), that looks like:
| Age | Target (multiple) | Amount saved |
|---|---|---|
| 30 | 1× | 180,000 riyals |
| 40 | 3× | 540,000 riyals |
| 50 | 6× | 1,080,000 riyals |
| 60 | 8× | 1,440,000 riyals |
💡 Check your own track: Use the retirement calculator to see whether your current savings and monthly contributions will reach your target.
Why These Numbers Are Only a Guide
These milestones are rough averages, not rules. Three things can shift them a lot:
- When you plan to retire — retiring at 55 needs more saved by 50 than retiring at 65.
- Your spending — a frugal saver needs a smaller nest egg than a big spender.
- Your income path — if your salary jumps later in life, the "×salary" targets become a moving goalpost.
The goal isn't to hit a multiple exactly — it's to make sure your balance is growing faster than your expenses are.
What If You're Behind?
Don't panic. The math has a built-in solution: time. Here's what actually moves the needle:
- Increase your contribution rate — going from 10% to 15% of income is the single biggest lever.
- Start now — every year you wait is a year of compounding you can't get back.
- Don't chase returns — a steady 7% average beats jumping in and out of the market.
Frequently Asked Questions
How much should I have saved by 40? A common target is 3× your annual salary. Earning 180,000 a year? Aim for about 540,000 riyals by 40.
Are these milestones for net worth or retirement accounts only? They usually mean your total retirement savings (investments, retirement accounts, pension value) — not your home equity or emergency fund.
What if I started late? You'll need a higher savings rate to catch up, but it's very doable. The key is to start immediately and increase contributions as your income grows.
See if you're on track with the RateLedger retirement calculator.