Are You on Track for Retirement? Benchmarks for Invested Assets by Age

When it comes to financial planning, even for younger planning clients, the question I get the most often is: “How much do I need to save for retirement?” 

According to Kiplinger, Americans believe they need $1.46 million to retire comfortably in 2026, up $200K from 2025, and this can feel pretty daunting. But, while it may feel good to grab onto a single number, there’s really no simple retirement goal figure that applies to everyone. At a high level, financial planners may use general benchmark ranges such as benchmarks for invested assets and average 401k balance by age, to help gauge whether someone is generally on track and knows how much they personally need for a comfortable retirement. That's what we'll break down here today.

A common framework suggests aiming for the following ranges of invested assets relative to your annual income (right).

These ratios offer a helpful directional guide; a quick way to see whether your savings and investments are roughly aligned with your long-term retirement goals. They’re based on assumptions like retiring around age 65, maintaining a similar lifestyle to today in retirement, and saving consistently throughout your working years.

A Few Important Disclaimers (And Why Your Retirement Savings Milestones Might Differ)

From Theory to Practice: Benchmarks for Invested Assets

Benchmarks are helpful guidelines for high-level tracking, but as with anything, retirement readiness is highly individual. The “right” invested assets number for you depends on many personal factors, including:

• Your expected lifestyle costs and desired standard of living in retirement

• Social Security or pension benefits, and when you plan to claim them

• The tax mix of your retirement assets, including pre-tax, Roth and taxable assets.

• Whether you receive family support, gifts or inheritance

• Ownership of income-producing assets like rental properties or a business

• Other passive income streams or assets you might sell to fund retirement

For example, someone with a paid-off home and a modest lifestyle may need far less in order to live a satisfying lifestyle than these benchmarks suggest, while another person with high living expenses, dependents, particular medical considerations, or ambitious travel plans may need much more.

So when you compare your actual savings to a benchmark multiple, think of it as a baseline health check, not a final authority, and certainly not a firm goal. The real value lies in understanding what your financial picture looks like, and adjusting your savings, investment strategy, and planning timeline to align with your vision for the future. Partner with a fee-only financial planner like Shannon Fleener, CFP® at Sage Financial to best understand your financial health and determine a personalized retirement goal.

A 2026 study by Guardian Life showed that 29% of non-retirees have zero retirement savings. Don't let this be you. If you’re curious about where you stand or how to close the gap, a personalized financial plan can help translate these broad benchmarks into a clear, achievable roadmap toward the retirement you envision. Schedule a free consultation to make sure your retirement savings are on track.

• • •

Have questions? Drop a comment on this post.

Need help building or updating your financial plan? Get in touch.

📌 Sage Financial Planning LLC is a California RIA providing values-based financial planning and financial advice in San Diego, CA and nationwide via virtual platforms. Sage Financial specializes in serving First Generation Wealth Builders who want to change their financial family trees for the better, as well as values-based clients who want to not only achieve financial security and freedom for themselves, but who want to support their communities in meaningful ways and leave the world better than they found it.

For more information on our holistic financial planning offerings, please visit our Service Options page.

#financialplanning #money #moneymindset #goals #success #personalfinance #millennialfinance #genzmoney #womenandmoney #financialwellness #financialfreedom #CFP #moneymanagement #financetips #moneygoals #financialliteracy #financialeducation #financialindependence #FI #FIRE #financialadvisorsandiego #financialplanner #financialplannersandiego #smallbusiness #womenbusinessowner