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Updated: Feb 26, 2020, 7:20am
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It’s clear that Americans feel unprepared for retirement. One in three have less than $5,000 in retirement savings, and one in five have no retirement savings at all, according to a Northwestern Mutual study.

So what is a healthy amount to have saved? What goals do you need to hit at every stage of your life?

There are multiple rules of thumb, depending on which person or company you consult. Fidelity, for example, says that in order to retire by age 67, you’ll need to have 10 times your final salary saved by that point. This rule of thumb is applicable for a broad range of people, from those who make $50,000 to those who make $300,000 a year, the company says.

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Before joining Forbes, I reported for the Hartford Courant and the New Haven Register, covering breaking and local news. I'm a wealth reporter at Forbes. A Connecticut native, I studied journalism at Penn State University. Follow me on Twitter @someUser.

First Published: Feb 17, 2020, 4:52am
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