Fidelity Investments recommends that an individual save two times his income at age 40. If you earn $50,000 a year, for example, you should have $100,000 saved. A Business Insider article, citing JP Morgan Asset Management's 2014 "Guide to Retirement," provides a more exact recommendation that depends on how much money someone makes at 40. Under this system, those in higher income brackets should save a higher percentage of their pay. For example, JP Morgan recommends that a person earning $75,000 at age 40 should have saved 1.6 times his annual salary, or $120,000. In contrast, someone earning $150,000 should have saved 3.2 times his annual salary, or $480,000.