How much should you have saved before retirement?

The most common guideline is to have 10-12 times your final annual salary saved by retirement. So if you earn $80,000 a year, you'd want $800,000 to $960,000 saved. Fidelity suggests hitting specific milestones along the way: 1x your salary by 30, 3x by 40, 6x by 50, and 8x by 60. The right amount really depends on your expected lifestyle, retirement age, health costs, and other income sources like Social Security or a pension. A common rule of thumb is the 4% rule, meaning you can withdraw 4% of your savings annually without running out of money over a 30-year retirement. A financial advisor can help tailor a target to your specific situation.