How Much Money Should I Have in Retirement Savings By Age 40?

Shawn Plummer

CEO, The Annuity Expert

You’re 40 years old, and you’ve been working for about 20 of them. You’ve contributed to your 401k faithfully, but you’re unsure how much you should have saved. How much is enough? This question can be tough to answer, but we’ll do our best to help you figure it out. Keep reading to learn more!

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How Much Retirement Should I Have At 40?

How much should I have saved for retirement by age 40? The table below illustrates how much money should be saved in an annuity by age 40 to generate $50,000 per year and $100,000 per year guaranteed to start at retirement ages 60, 65, and 70. This table does not include Social Security Income.

Example: If you have saved $746,913 by age 40, rolling it into an annuity will generate $100,000 annually for the rest of your life, starting at age 60, guaranteed.

How Much Should I Have In Retirement Savings At 40


Retirement Age
$25,000/yr.$50,000/yr.$75,000/yr.$100,000/yr.
Age 60$186,728$373,456$560,185$746,913
Age 65$168,857$337,713$506,570$675,426
Age 70$152,499$304,999$457,498$609,997

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Why Use Annuities For Retirement?

Annuities are the only retirement plan in the United States that provides a guaranteed income for a lifetime, even if the plan runs out of money. As a result, the annuity is a money management tool in retirement, taking all the guesswork in budgeting your day-to-day expenses. By utilizing this financial plan, a retiree will never have to worry about running out of money.

Utilize our retirement calculator to help with your retirement income goals.

Annuity Basics

Understanding Lifetime Income Riders

Keeping Up With Inflation

Some annuities offer a guaranteed lifetime income with the ability to increase regularly to keep up with inflation. Once the income increases, the payment amount is locked in and can never go backward from that point forward.

How to Get To Your Ideal Retirement Income

If you are behind in saving for retirement, don’t fret. Flexible premium annuities allow annuity owners to regularly add to their retirement savings plan, creating a guaranteed path to an investor’s ideal retirement income.

The Next Steps To Starting To Save For retirement At 40

Figuring out how much you need to save for retirement can be tough, but it’s not impossible. Considering your age, current income, and lifestyle, we can help you develop a ballpark figure that will give you the peace of mind you deserve. Contact us today for a free quote on retirement savings – we’ll get you on the right track so you can relax and enjoy your golden years!

How Much Money Should I Have Saved For Retirement By Age 40?

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Retirement Income Guides

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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