If you don't have this much saved by 45, you are falling behind

It's important to check your retirement savings against averages, but remember that everyone has unique goals and lifestyles that influence their situation.

For those in their 40s, there's ample time to recover if your retirement savings are behind; don't panic, but make slight changes to improve.

Older Millennials may benefit from sacrificing small daily luxuries, like expensive coffee, to increase their retirement savings and enjoy further financial security.

There's still potential for growth; focusing on cutting investment fees and investing in equities can help improve retirement outcomes, regardless of current standing.

Read at 24/7 Wall St.