Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure . Are you saving enough for retirement? Here's how to tell. Ivana Pino Senior Writer Tue, August 11, 2026 at 11:46 AM PDT 4 min read Most experts suggest that you should aim to save 15% of your pretax income each year for retirement. Fidelity, for example, recommends having 1x your annual salary by age 30 and working your way up to 10x to 12x your annual salary by the time you hit retirement age. But the real answer may not be so clear-cut. According to Vanguard's "How America Saves 2026" report, the average participation rate across Vanguard's plans was 86% in 2025, an increase of 5 percentage points since 2017. However, when it comes to meeting retirement savings targets of 12% to 15%, only 51% of participants meet those thresholds. Read more: How much money should I have saved by 50? How to tell if you're saving enough The 15% rule and age-based benchmarks are both commonly used guidelines; however, your retirement savings target should be based on several personal considerations. "I've found that my clients' ideas of retirement are just as unique as they are," said Brian Seymour, CFP and founder of Prosperitage Wealth. "Some want to travel, some want to work part-time, and others want the freedom to make it up as they go along. Seymour said that rather than relying on a rule based on age or income, savers can work backward from the retirement they actually want. "Your income, your lifestyle, your retirement age, your Social Security benefits, pensions, existing assets, and spending needs all matter," Seymour said. "Change one of those inputs, and you get a drastically different outlook on your probability of having a successful retirement." Age-based benchmarks can be helpful in gauging your progress, Seymour said, but they leave out some key elements that are crucial to factor into your retirement savings plan. "I would caution readers against treating them as some financial report card. Someone earning $75,000 with a pension, modest lifestyle, and plans to work until 70 likely needs a very different amount than someone earning $300,000, spending $200,000 a year, and wanting to retire at 55," said Seymour. "Bottom line: Your retirement number should be based on your life, not somebody else's spreadsheet." Read more: How much do you really need to save for retirement? How to catch up if you're behind on retirement savings Ultimately, the goal is to create a savings plan that helps you build enough in your retirement account to support yourself and the lifestyle you want to lead in your later years, while also accounting for today's expenses, obligations, and current lifestyle. You also want to be wary of setting a savings target that's unrealistic or leaves you in a worse financial position in the immediate term. Vanguard says 6% of participants made a hardship withdrawal in...
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