Here's How Much Investors Should Have Saved for Retirement at 5 Different Ages: 2024

J.P. Morgan Asset Management's newly published 2024 guide to retirement can give advisors a starting point for conversations with clients on their progress in accumulating assets throughout their lives. The guide provides checkpoints, indicating how much investors at different income levels should have put away for retirement at specific ages during their years in work. J.P. Morgan's researchers based their model on proprietary long-term capital market assumptions returns, and an 80% confidence level. It assumes a 10% annual gross savings rate, with a goal of maintaining an equivalent lifestyle in retirement. The model describes portfolios as equity/bond percentages: 60/40 pre-retirement and 40/60 after that. It assumes an inflation rate of 2.5%. The primary earner in the model is 65 at retirement, and his or her spouse is 63. They are assumed to spend 35 years in retirement. See the gallery for how much investors should have saved for retirement and five different ages, according to J.P. Morgan's checkpoints.