“Fidelity’s rule of thumb: Aim to save at least 1x your salary by 30, 3x by 40, 6x by 50, 8x by 60, and 10x by 67.”

Worse, data shows many boomers don’t have any emergency savings. The study finds:

40% of baby boomers are still paying off credit card debt.

59% of baby boomers believe Social Security will be a major source of income in retirement.