By age 50, retirement-plan provider Fidelity recommends having at least six times your salary in savings in order to retire comfortably at age 67. By age 55, it recommends having seven times your salary
Fidelity offers a timeline to follow if you want to save 10 times your final salary by 67:
By age 30: Have the equivalent of your starting salary saved
By age 35: Have two times your salary saved
By age 40: Have three times your salary saved
By age 45: Have four times your salary saved
By age 50: Have six times your salary saved
By age 55: Have seven times your salary saved
By age 60: Have eight times your salary saved
By age 67: Have 10 times your salary saved
This research comes from the US and many investors are not on track. The question is how do you get on track? Is it possible?
Whilst your job is to save money, it is the job of those you entrust to manage your money, to do their job. Yet investors do not give enough time and attention to make sure those you trust will deliver.
It’s time to take back control over your money.