Connect with us. We’ll help you feel confident about saving and investing for your retirement. YOUR RETIREMENT PLAN WEBSITE Go to rps.troweprice.com .
SEE IF YOU'RE ON TRACK. This chart shows the percentage of salary that investors of the corresponding ages should already have saved in order to maintain current spending levels in retirement.
Aim to have:
If you are:
half of salary saved today 1x to 1.5x salary saved today 1.5x to 2x salary saved today 2.5x to 4x salary saved today 3x to 5.5x salary saved today 4.5x to 8x salary saved today 6x to 11x salary saved today
30 35 40 45 50 55 60 65
DEDICATED REPRESENTATIVES Call your plan’s toll-free number.
MOBILE SOLUTIONS Visit troweprice.com/mobilesolutions to choose the option that’s best for you.
7x to 13.5x salary saved today Remember, it's never too late to take steps that can help keep you on track—or close the gap. Log in to your account or call with questions.
TWO BIG IDEAS: Are you saving? If you’re not enrolled in your workplace retirement plan, sign up now. Are you saving enough? Increase your savings rate regularly to build your savings faster.
Key Assumptions: Household income grows at 5% until age 45 and 3% (the assumed inflation rate) thereafter. Investment returns before retirement are 7% before taxes, and savings grow tax-deferred. The person retires at age 65 and begins withdrawing 4% of assets (a rate intended to support steady inflation-adjusted spending over a 30-year retirement). Savings benchmark ranges are based on individuals or couples with current household income between $75,000 and $250,000. Target multiples at retirement reflect estimated spending needs in retirement (including a 5% reduction from preretirement levels), taxes, and Social Security benefits based on the ssa.gov Quick Calculator. This material is provided for general and educational purposes only and is not intended to provide legal, tax, or investment advice. This material does not provide recommendations concerning investments, investment strategies, or account types; it is not intended to suggest that any particular investment action is appropriate for you. Please consider your own circumstances before making an investment decision. ©2024 T. Rowe Price. All Rights Reserved. T. ROWE PRICE, INVEST WITH CONFIDENCE, and the Bighorn Sheep design are, collectively and/ or apart, trademarks of T. Rowe Price Group, Inc. RETIRE WITH CONFIDENCE is a trademark of T. Rowe Price Group, Inc.
T. Rowe Price Retirement Plan Services, Inc
rps.troweprice.com |
M55F92ART 202310-3112846
11/23 ORAD13-RETR
Made with FlippingBook interactive PDF creator