Making $65K a Year? Find Out How Your Retirement Savings Compare to Others

How Your $65K Salary Compares

For Americans earning around the national average of $65,470, retirement savings capabilities fall within predictable patterns. At this income level, saving the recommended 15% would mean setting aside approximately $9,820 annually or $818 monthly toward retirement.

However, reality often falls short of recommendations. With 40% of Americans saving less than 5% of their income, many earning $65,000 save $3,273 or less annually. This creates a substantial gap between actual savings and recommended amounts for a comfortable retirement.

The implications extend throughout working years. At a 5% savings rate over a 40-year career with average market returns, retirement savings might reach approximately $400,000-500,000, depending on investment performance. While substantial, this amount typically generates only about $16,000-20,000 annually in retirement income using the standard 4% withdrawal rule.