How Much Should Retirees Have Invested by Age 65?

Core Insights - There is no linear path to retirement, with individuals varying in their wealth accumulation and savings goals by retirement age [1] - Workers typically aim to retire in their 60s or 70s to enjoy personal interests and family time [1] Retirement Savings Recommendations - Experts, including Fidelity, suggest saving multiples of annual salary by certain ages, with a target of 10 times the salary by age 67 [3][4] - Fidelity's recommendations include saving 15% of income annually, starting at age 25, and investing a significant portion in stocks [5] Current Retirement Savings Data - The average retirement savings for a U.S. family in 2022 was approximately $334,000, while the median was significantly lower at $87,000, highlighting income inequality [8]