At what age does Fidelity Investments recommend individuals without pensions to have at least how many times their salary saved to retire?

Fidelity Investments recommends that individuals without pensions have a certain multiple of their salary saved by specific ages to help ensure a secure retirement. According to their guidelines, at age 30, it is suggested that individuals aim to save at least one times their salary. This recommendation serves as a foundational benchmark to encourage early savings and investment in retirement accounts.

Starting to save early allows the benefits of compounding interest to take effect. It's crucial for young individuals to form the habit of saving and to begin setting aside funds for retirement, even if it may seem far off at that age. Establishing a savings plan at the start of one's career can lead to significant benefits in the long run, as even modest contributions can grow substantially over time.

Understanding this guideline provides essential context for planning one's financial future and can be motivating for individuals beginning their careers. As they progress through their professional lives and income grows, the recommendations become more ambitious, reflecting an increasing need for savings as retirement approaches.