Life Money Balance® Podcast

How Much Should You Have Saved for Retirement by 40, 50, or 60?

Dr. Preston Cherry

In this episode, Dr. Preston Cherry breaks down key retirement savings benchmarks for your 40s, 50s, and 60s. He explores the emotional challenges of saving—like anxiety and comparison—and shares practical tips to build financial freedom. His advice? Adjust your lifestyle, diversify income, and stop procrastinating. Stay focused on your own financial journey and take action now.

Key Points:
• Savings benchmarks: 3x salary by 40, 6x by 50, 6-8x by 60
• Gen X median retirement savings: $100K
• Life is uncertain—plan accordingly
• Save more without sacrificing lifestyle
• Procrastination hurts financial progress

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Information on the Life Money Balance Podcast is for educational purposes only, not financial advice. Review our disclosures: https://www.concurrentfp.com/disclosures/