Retirement Savings at Age 48 Earning $40,000/Year
How much you should have saved, your projected retirement nest egg, and monthly income estimates using the 4% withdrawal rule.
Recommended Savings Target
$240,000
6Ã your $40,000 salary
Years to Retirement (Age 67)
19
years of compounding left
Projected Savings by Contribution Rate
| Saving Rate | Monthly | At Age 67 | Monthly Income* |
|---|---|---|---|
| 10% | $333 | $113,558 | $379/mo |
| 15% | $500 | $170,336 | $568/mo |
| 20% | $667 | $227,115 | $757/mo |
| 25% | $833 | $283,894 | $946/mo |
* Monthly income based on 4% withdrawal rule. Assumes 4% real return (7% nominal â 3% inflation). Starting from $0 today.
Savings Milestones (at 15% savings rate)
$100,000
Age 61
13 years
$250,000
Age 73
25 years
Retirement Planning at Age 48
At 48, you should have roughly 6Ã your salary ($240,000) saved for retirement. If you're behind, consider maximizing catch-up contributions to 401(k)s ($7,500 extra/year for those 50+) and IRAs ($1,000 extra/year). You still have 19 years of growth ahead.
Use our FIRE calculator for early retirement scenarios, or check our net worth benchmarks at age 48.
Retirement at Age 48 â Other Income Levels
$30,000/yr$50,000/yr$60,000/yr$75,000/yr$80,000/yr$90,000/yr$100,000/yr$120,000/yr$140,000/yr$150,000/yr