How Much Money Should I Have Saved For Retirement?

Shawn Plummer

CEO, The Annuity Expert

Do I have enough money saved to retire? This guide will explain how much money you need to save to retire at various ages earning various income amounts.

How Much Money Do You Need Saved To Retire?

The table below illustrates how much money you will need to be saved by age 60, 65, and 70 to generate your immediate desired annual income for life, guaranteed. We use an annuity to calculate the investment amount since they are the only retirement plan to guarantee an income for life. The starting age is on the left, and the income amount is at the top.

Age$50k$100k$150k
Age 60$952,381$1,904,762$2,857,143
Age 65$869,565$1,739,130$2,608,696
Age 70$800,000$1,600,000$2,400,000

Why Buy An Annuity?

Annuities are the only retirement plan in the United States that provides a guarantee of income, even if the funds run out. These plans help you manage your expenses from day to day and never leave you worrying about running out of money, no matter how many years go by.

Annuity Basics

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Understanding Lifetime Income Riders

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Estimate Your Retirement Income Payments

Take advantage of 17 different annuity calculators to generate estimates, then request a quote.

Things To Consider When Retiring

Find Out How Much Money You Need Saved For Retirement

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Frequently Asked Questions

How much should I have saved for retirement by age 60?

After researching 326 annuity products from 57 insurance companies, our data calculated that $952,381 would immediately generate $50,000 annually for the rest of a person’s life starting at age 60, guaranteed. Our data calculated that $1,904,762 would immediately generate $100,000 annually for life starting at age 60. Our data calculated that $2,608,696 would immediately generate $150,000 annually for life starting at age 60.

Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

The Annuity Expert is an online insurance agency servicing consumers across the United States. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. 

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