Many retirement articles list how much you should have saved by age, in multiples of your salary. However, they don't explicitly state whether they are trying to base the multiple off your original salary, or your salary at the time you hit a given age.
- 1x salary by age 30
- 2x by 35
- 3x by 40
- 4x by 45
- 10x by 67.
For example, suppose you're earning $50k annually at age 30, and get a 3-4% raise every year so you're earning $60k by age 35. By age 35, is the intention of the advice to have $100k saved, or $120k?
It seems like it would have to be the latter if for no other reason than because of inflation.