When you're behind on saving money at age 35, it's not the end of the world. But it's also essential to make catching up a priority. You probably still have at least 25 to 30 years left until retirement. But every day you put off saving, you're missing out on the power of compound interest and earnings.
You should have twice your annual income saved by 35, according to a frequently cited Fidelity retirement chart. Let's assume that, at age 35, your salary falls right in the middle between the median salary for a full-time worker between the ages of 25 and 34 and that for a full-time worker between the ages of 35 and 44.
The median annual salary for the younger age group was $59,228 for workers ages 25 to 34, according to U.S. Bureau of Labor Statistics data for the second quarter of 2025. For workers between the ages of 35 and 44, the median salary was $70,252.
The average of these two numbers is $64,740. Let's round up and assume that the average 35-year-old earns about $65,000 per year.
Based on these numbers, the recommended savings for a typical 35-year-old is $130,000. If you're nowhere close to that number, don't panic. We'll cover some strategies to help you save more money at age 35.
What's the average savings at age 35?
Having twice your annual salary saved, or about $130,000, is a good goal to aim for in your mid-30s. Not quite there yet? Join the club. The average 35-year-old doesn't have $130,000 saved either.
The median retirement account balance is $45,000 for the 35-44 age group, according to the Federal Reserve's 2022 Survey of Consumer Finances. Many people in this age group are building wealth through homeownership, with 61% of those between the ages of 30 and 44 owning a primary residence. The median net worth for someone between the ages of 35 and 44 is about $135,000.
The data shows that between the ages of 35 and 44, people often get serious about saving for retirement. The median retirement account balance for those ages 25 to 34 was less than $19,000, and the median net worth was $39,000. If you are entering your mid-30s and just starting to plan for your later years, you are far from alone.
How to save more money at age 35
Follow these tips to supercharge your savings:
Stretch your emergency fund to six months
Your emergency fund probably needs to have a relatively high balance in your mid-30s, especially if you have kids or you own a home. When you were just starting out, an emergency fund with three months' worth of expenses was sufficient, but at 35, your emergency fund should hold at least enough money to pay six months' worth of expenses.
This is especially vital if you work in an industry that's prone to layoffs or you're the sole breadwinner in your family. Having extra savings can give you the freedom to search for the right opportunity if you lose your job and prevent you from having to jump at the first paycheck you're offered.
Tackle credit card and student loan debt
If you still have student loans or credit cards, make getting rid of them a top priority. Start with your credit cards because they typically have the highest interest rates of any debt. After that, pay down your student loans, focusing first on any private loans since they usually have higher interest rates.
Invest money as you eliminate debt
As you pay off debt, it's essential to spend money that was going toward debt payments in a way that most benefits you. Once you've rid yourself of high-interest debt, reallocate the amount you were spending on debt toward investing for your retirement. If you have multiple debts, try the "debt avalanche" method, where you focus on repaying the highest-interest debt first while paying minimum monthly amounts for the other debts. Once you repay that debt, you can start focusing on the debt with the next-highest interest rate.
It's essential not to delay or deprioritize investing at age 35, particularly if you started investing late. You may have missed out on some powerful years of compounding interest, but your money could still grow for 30 or more years.
Contribute aggressively to your 401(k)
You'll notice a common theme here: What was good enough in your 20s often doesn't suffice when you're in your mid-30s and need to accelerate your saving and retirement investing.
Typically, saving 15% to 20% of your pre-tax income is a good goal, although you may need to save a higher percentage if you're 35 and just getting started. Contributing enough money to your 401(k) plan to get your full company 401(k) match is a no-brainer, but this amount alone probably won't get you to 15-20% of your salary.
After you've received your employer's full match, aim to max out an individual retirement account such as a Roth IRA. If you have extra money to invest after that, you can add more to your 401(k). If you don't have a traditional salaried job, then check out your options for self-employed retirement plans.
Ignore what other people are doing
In your mid-30s, you'll often see a lot of your peers upgrading. Their houses get bigger and their cars and vacations get fancier. Social media often presents a misleading picture.
Focus on your own goals, even if that means living on the budget of a 20-something. Living a lifestyle you can afford, instead of one that's Insta-worthy, is the single best thing you can do to build meaningful wealth.
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