How Much Should I Save Each Month?
Published June 2026 · 4 min read
The most common recommendation is the 50/30/20 rule: 50% of income to needs, 30% to wants, 20% to savings. But if you are aiming for early retirement (FIRE), you will need to save 40-50% or more. Even small amounts add up: USD 200/month at 7% grows to USD 242,000 in 30 years.
Savings Rate by Goal
| Goal | Savings Rate |
|---|---|
| Traditional retirement (age 65) | 10-15% |
| Standard retirement (age 62) | 20% |
| Early retirement / FIRE (age 50) | 40-50% |
| Extreme early retirement (age 40) | 60-70% |
Use our Savings Calculator to plug in your monthly contribution and see exactly where you will be in 10, 20, or 30 years.