It's easy to see why people are unsure of themselves: Retirement savings is an inexact science. Benefits generally account for a bigger chunk of lower earners' retirement income relative to higher earners. Between those sources, households generally need enough money each year to replace about 70% to 75% of the salaries they earned just before retirement, Chao said. To get there, people should save 15% a year from age 25 to 67, the firm estimates. This figure is 45% of her $100,000 income before retirement, which is Fidelity's estimate for an adequate personal savings rate.

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Persons: Philip Chao, Chao, It's, David Blanchett, Blanchett, Daniel De La, Philip Chao CFP Organizations: Getty, Center, Prudential Financial, Finance, Harvard, Social Security, Social, Savings, Fidelity Locations: John , Maryland, PGIM