18th November 2019


How much money should a 25 year old have in the bank?

As you get deeper into your 20s, you should shoot to have about one quarter of your annual cash (25% of your gross pay) saved up, according to a spokeswoman for the budgeting app Mint. That means that the typical 25-year old might want to have somewhere around $10,000 in savings.

How much should you save for retirement by age 35?

As an example, say you're 35 years old and you make $75,000 a year. Based on the chart, you should have saved 1.6 times your salary at this point, or $120,000. This assumes you contribute 5% of your salary to retirement annually, you retire at 65 years old, and you die at 95.
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