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This is How Much Money You Should Have Already Saved for Retirement

We’re sorry to make you cry during the holidays.

But you can blame JPMorgan. ‘Cause the financial institution’s 2015 Guide to Retirement is less eye-opener, more tear-jerker.

By using the handy little graph below, you can see all the money you should have saved by now (but probably haven’t). Just find your nearest age and the closest sum to your current salary and the (gulp) multiply it by the number you find there. For instance, if you’re 35 and make $100K a year, you should have banked $140K by now.

After you stop crying and the panic has receded, keep in mind that this structure assumes that you’ll be retiring at age 65 and living another 30 years after that. Oh, and that you’ll be steadily contributing 5% of your annual salary to living the good life in those future glory years. Also know that this is as basic an intro as possible to retirement savings and that this one chart doesn’t accurately sum up how much you’re prepared (or unprepared) to call it quits. But it’s still enough fact to make you re-think your finances.

Good thing you didn’t just blow a bunch of money over the holidays…

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