This is how much the average employed baby boomer has saved for retirement. How do you stack up?

Moneywise and Yahoo Finance LLC whitethorn gain committee oregon gross done links successful the contented below.

With the youngest babe boomers present 61, overmuch of the procreation is already retired oregon nearing retirement. However, information shows galore person inadequate savings and whitethorn conflict to support their modular of living.

In fact, immoderate boomers person saved truthful small that younger Americans could surpass them with conscionable a fewer years of disciplined redeeming and investing.

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Here’s a person look astatine the boomers’ fiscal authorities — and what it takes to get up connected the way to fiscal freedom.

According to a 2025 Vanguard report, lone the apical 30% of income-earning babe boomers are acceptable for status (1).

Vanguard besides recovered that median-income individuals are expected to acquisition an yearly spending shortfall of $5,000, oregon 13% of their wide spending needs, successful retirement.

That could marque for a important alteration successful lifestyle.

Meanwhile, a Northwestern Mutual survey recovered that the mean “magic number” Americans accidental they volition request for status is $1.26 cardinal (2). With mean savings and nett worthy good beneath that figure, it’s nary astonishment that the survey besides recovered 51% of Americans deliberation it’s “somewhat oregon precise likely” they volition outlive their savings.

With constricted resources, galore boomers whitethorn beryllium forced to instrumentality connected debt, trust heavy connected Social Security, chopped backmost their lifestyles oregon adjacent instrumentality to enactment to support their prime of life.

But adjacent if you’re a boomer, there’s inactive clip to illustration a antithetic course.

Read more: Warren Buffett utilized 8 solid, repeatable wealth rules to crook $9,800 into a $150B fortune. Start utilizing them contiguous to get affluent (and enactment rich)’

Whatever your idiosyncratic “magic number” for status whitethorn be, starting aboriginal and staying accordant tin assistance you get there.

The median wage for idiosyncratic aged 55 to 64 is $1,322 per week oregon $68,744 per year, according to SmartAsset (3).

Fidelity recommends having 2x your wage by property 35, 4x by 45 and 7x by 55. To deed these milestones, they suggest investing 15% of your pretax income into a diversified portfolio focused connected maturation and income.

For example, if you earned $70,000 and consistently saved 15% per twelvemonth successful a low-cost S&P 500 scale money — which has averaged astir 10.4% yearly returns since 1957 — you could prevention treble your income successful astir 9 years and 7x your income successful astir 18 years.