You Might Be Behind On Retirement If You Have Less Than This Saved By Age 45

Among the countless financial commitments you'll make to yourself and others, putting money aside for retirement is one of the most important. A general rule of thumb suggests that you need to reach a portfolio size of roughly 10 times your annual income to retire at the full retirement age of 67. For someone earning $65,052 annually, based on Q2 2026 median earnings data from the Bureau of Labor Statistics, that comes out to $650,520.

Getting to that large figure won't happen overnight, and there are some important stepping stones to target along the way. According to T. Rowe Price, one of these key signposts that you're on track is having between 2.5 and 4 times your income saved by 45 (equating to a figure between $162,630 and $260,208 based on the same median income example). If you're part of the 58% of American workers who say they're behind on retirement savings, according to a 2025 Bankrate survey, these midstream numbers might feel like a faraway pipe dream, too.

Savings goals can be moving targets, and it's not the end of the world if your priorities shift at times during your working years. All manner of financial complications can come into play, from expenses associated with moving into a different home to having children. It is possible to catch up on your retirement savings, and one or more strategies will often be essential here if you're behind by the time you hit 45.

Starting to save for retirement by 25 can give your money decades to grow. This gives you roughly 40 years to save for this important transition out of working life, and crucially, 45 sits right around the midpoint of that long journey.

At this point, you're also just a few years out from being able to take advantage of catch-up contribution limits that kick in at 50. That gives you a few years to make adjustments to your savings strategy and budgeting priorities so you may be better positioned to use the expanded limit. In the year you turn 50, you can contribute an additional $1,100 to an IRA and, if your plan permits it, an additional $8,000 to a 401(k) in 2026 (via IRS). From 45, reducing expenses like revolving credit balances and discretionary spending can help you free up more money for retirement contributions before becoming eligible for catch-up contributions.

Taking full advantage of your employer's 401(k) match is also worth considering, if you aren't already doing so. Focusing your efforts here can help you collect the employer contributions available to you, growing your retirement savings at a faster pace. At this point, you may also be firmly established in your professional career. Making strategic choices about your employment or even starting to consider your eventual retirement timeline can help expand your ability to save. Seeking a higher-paying position may help increase your salary, while pushing back your expected retirement date can give you more time to save if you're worried about where your finances stand.