Enjoying a peaceful retirement without worries about financial security is something many people hope for. To achieve this, you need to build a sufficient retirement savings fund. So, what is considered an ideal amount?

According to the retirement plan provider Fidelity, an individual should ideally have savings equal to six times their annual income by the time they reach age 50, especially if they plan to retire at 67.

For example, if your total yearly income amounts to Rp100 million, then multiplying that figure by six means you should have around Rp600 million saved.

However, this number is not an absolute benchmark. Nathan Sebesta, a certified financial planner and founder of Access Wealth Strategies, explains that the amount of retirement savings required depends on several factors: when you intend to retire, how much you expect to spend during retirement, and where you choose to live.

So, what steps should be taken if your savings fall significantly short of the target?

If your retirement savings are far behind, Sebesta recommends lowering your expectations for retirement income. Dedicate the remaining 10–15 years before retirement to paying off debt, cutting expenses, and considering relocation to an area with a lower cost of living.

As a final option, you may need to continue working even after reaching retirement age.

“No one dreams of having to keep working in retirement,” Sebesta said. “But for those who start saving late and cannot make up the gap, it may be the only realistic option.”