By your mid-40s, you should have about 4.5x your salary saved for retirement. Unfortunately, many are way behind on retirement savings.
Fidelity recommends having three times your salary saved by age 40 and six times by age 50. A good goal is about 4.5 times your salary by age 44.
$2 million is an impressive feat for a 44-year-old; it significantly exceeds the average retirement savings of $142,000 for those aged 35-44.
The average retirement savings for 45-54 year-olds is about $313,000, showing how many are not meeting their savings goals.
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