The general target is 10-15x your annual expenses by retirement age. For most people, this means:
By 30: 1x annual salary saved
By 40: 3x salary
By 50: 6x salary
By 60: 8x salary
By 65: 10x salary
How to get there: Save at least 15-20% of income for retirement starting in your 20s-30s. If starting late, you need to save more aggressively.
$500/month invested at 10% from age 25 to 65 = $3.2 million. Starting at 35 instead = $1.1 million. Those 10 years cost you $2.1 million.
Plan yours: Retirement Calculator
Disclaimer: This website provides general educational information only and does not provide personalized investment advice or recommendations. Financial decisions should be made after considering individual circumstances and consulting a qualified professional where appropriate. Mutual fund investments are subject to market risks. Please read all scheme-related documents carefully before investing. Past performance does not guarantee future results.