What percentage of your income should you actually be saving? Get a personalized answer based on your goals.
Your savings rate — the percentage of income you don't spend — is the single most important number for your financial future. This free savings rate calculator benchmarks your current rate against common goals: building a safety net, on-track retirement saving, or aggressive FIRE (Financial Independence, Retire Early). Small increases (from 5% to 10%, or 10% to 20%) compound into massive differences over decades.
The US average savings rate is only around 3–5%, which means most people are living paycheck to paycheck.
Financial experts generally recommend: 10–15% for retirement, 20%+ for healthy financial habits, and 50%+ if you want to retire early (the FIRE movement).
The order matters: pay yourself first. Automate your savings to come out the same day you get paid. What's left is what you spend.
That $5 daily coffee adds up to $1,825 per year. Invested at 7% for 30 years, that's over $200,000. Small leaks sink big ships.
Start with the 50/30/20 rule: 50% needs, 30% wants, 20% savings. Trim subscriptions, cook at home, buy used. Even a 1% increase adds up over decades.
Yes — employer contributions count as savings, not spending. Your savings rate should include every dollar that goes toward your future, not just what you manually transfer.
Yes. If you're skipping vacations, not enjoying life, or stressed about money while saving 40%, that's unsustainable. Balance is key — save enough to be secure, but enjoy today too.