Living a peaceful retirement without anxiety or financial worries is something many people hope for. To achieve this, one must prepare a sufficient retirement savings fund. But what is considered the ideal amount?

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

For instance, if your yearly income amounts to Rp100 million, then you should aim to have around Rp600 million in savings.

However, this figure is not an absolute rule. Certified financial planner Nathan Sebesta, who is also the founder of Access Wealth Strategies, explained that the required savings depend on several factors: when you want 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 far short of the target?

If your retirement fund is significantly behind, Sebesta recommends lowering your expectations for retirement income. Use the last 10–15 years before retirement to pay off debt, reduce expenses, and consider relocating to an area with a lower cost of living.

As a last resort, you may need to continue working even after reaching retirement age.

“No one dreams of still having to work in retirement,” Sebesta said. “But for those who started too late and cannot catch up, this may be the only realistic option.”