According to financial information website MarketWatch, you should have savings worth double your salary by the time you're 35.
They posted a Tweet the other day with a link to their article saying as much:
By 35, you should have twice your salary saved, according to retirement experts: https://t.co/QoVA6EFpHJ
— MarketWatch (@MarketWatch) May 12, 2018
The article, titled 'Money Milestones: This is how your finances should look in your 30s', advises that, in an ideal world, you should have the equivalent of a whole year's worth of your salary saved up for the future by the time you're 30, and double that by 35.
This way, you won't be worrying about not having enough money saved up the nearer you get to retirement.
If you were wondering whether saving this much - assuming you can save at all - means you can't spend your money in the meantime on things like rent, mortgages, weddings, holidays and, y'know, food and other everyday essentials, an assistant portfolio manager interviewed in the article says: “It’s important to be saving for retirement while doing all these things at the same time."
Sounds doable, right?
Naturally, Twitter users reacted in the honest, relatable way you've come to expect.
I think you meant to say,
— ❄️❄️🌊 Clinton and Obama Democrat 🌊❄️ (@emanzi) May 14, 2018
By 35 you should have debt twice your salary.
do any of you know real people? just curious.
— Christopher Sebela (@xtop) May 14, 2018
I think the key to this is just make sure you have a very very low salary and x7 should be easy to obtain
— Cfa (@ComeFromAwayNL) May 15, 2018
2x0=0 pic.twitter.com/hkBloKZndB
— I'mWithThem (@JamesWetuski) May 14, 2018
I've done the math, and I can retire about 10 years after I die, if nothing else happens.
— Joan reads, which is more than Trump does (@cosmyra64) May 14, 2018
I'm 35 and I've got a whole $5k in my retirement, and here I thought I was doing well!! 😭😭😭
— Mama Cthulhu (@MaMaCthulhu) May 14, 2018
— Laura J. Nelson (@laura_nelson) May 15, 2018
It's not that bad, you just have to find a way to live until you're 150.
— Noratorious (@Noratoriou5) May 15, 2018
Retirement? At this rate I’m going to have to book time off work for my own funeral.
— AJ Irwin (@WeaverStar) May 15, 2018
Hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha
— Just A Dad And His Puns 🌊 (@Nostromo87) May 15, 2018
How are your savings looking? 😅