PHYSIQUE INSPIRATION – KEEGAN

40s: Shoot for 6x your salary saved by 50. Catch-up contributions allow you to save even more in 401Ks and IRAs during this decade. Consider shifting some funds to more conservative investments as retirement nears.

50s: Your goal by age 60 should be 8x your salary saved. You should be very close to your full retirement savings target. Fine-tune plans for how much you can withdraw annually in retirement without running out.

At age 62 specifically: Ideally have between 8-10x your salary saved in retirement accounts, based on your planned retirement lifestyle and Social Security plans. 

If retiring soon after 62, calculate your target as 25x your expected annual spending in the first few years of retirement.

Maximize catch-up contributions in your 50s. Supplement with taxable investment accounts once you hit retirement account contribution limits.

The more you’ve saved, the more flexibility and security you’ll have for retiring between 62-67. Review portfolios, projected returns and Social Security benefits.

With diligent saving from an early age and prudent growth investing, hitting these 62-year savings benchmarks is very feasible for most careers. The key is consistently setting aside 15% or more of income over your working life.