Retirement Planning for Immigrants in the U.S.: How Much Do You Need to Save?

Retirement is one of the biggest financial milestones of your life, but as an immigrant in the U.S., it comes with unique challenges. Many of us start saving later, balance family responsibilities across borders, and navigate an unfamiliar financial system. That’s why retirement planning for immigrants requires clear strategies and tools.

Why Retirement Planning Is Critical for Immigrants

• Late Start: Many immigrants begin saving for retirement years after their peers.

• Dual Responsibilities: Supporting family abroad often reduces what’s available for retirement savings.

• Unfamiliar Systems: Understanding 401(k), IRA, Roth IRA, and Social Security benefits can feel overwhelming.

But here’s the good news: with the right plan, you can still retire comfortably in the U.S.—even if you’re starting late.

How Much Do You Really Need to Retire in the U.S.?

Financial experts suggest you’ll need 70–80% of your pre-retirement income to maintain your lifestyle.

Here’s a simple breakdown:

• Want $50,000 per year in retirement? You’ll need around $1.25 million saved (based on the 4% withdrawal rule).

• Want $80,000 per year? You’ll need about $2 million saved.

📌 Your final number depends on:

• Whether you retire in the U.S. or abroad

• Your lifestyle (basic, comfortable, or luxury)

• Healthcare costs and insurance coverage

• Family responsibilities

How Much Should Immigrants Save Monthly for Retirement?

If you start saving in your:

• 30s: $500–$800 per month could get you close to $1M by age 65.

• 40s: $1,000–$1,500 per month.

• 50s: A more aggressive plan is needed, but it’s never too late.

This is where many immigrants feel stuck: “How much do I need for retirement?” That’s exactly what a retirement calculator is designed to answer.

Free Tool: Retirement Calculator for Immigrants

To simplify the process, I created a Retirement Calculator that shows how much you need to save based on your age, income, and retirement goals. It’s designed to give immigrants in the U.S. clarity on their financial future.

👉 Try the Retirement Calculator Now

FAQs About Retirement Planning for Immigrants

1. Can immigrants get Social Security in retirement?
Yes—if you’ve worked in the U.S. for at least 10 years (40 quarters), you may qualify for Social Security benefits, even if you later retire abroad.

2. What’s better for immigrants: 401(k) or IRA?
Both have advantages. A 401(k) offers employer contributions, while IRAs give you more flexibility. Many immigrants use both to maximize savings.

3. Is $1 million enough to retire in the U.S.?
It depends on your lifestyle and location. Some may need less if living modestly or retiring abroad, while others may need more if staying in high-cost U.S. cities.

How Much Should YOU Save? Age vs. Savings Rate Cheat Sheet

Most people underestimate how much they need to save based on when they actually start. This simple chart shows why starting early beats playing catch-up later.

👉 Example:

If you start saving at age 30 and put away 15% of your salary, you might reach only 50–65% of your retirement goal by age 60.

• But if you start at age 25 with the same 15%, you could be on track to hit 85%+ of your goal!

That’s the power of time & compounding.

💡 Lesson: The later you start, the more aggressive you’ll need to be. Don’t wait until it’s too late.

✅ Tip: If you’re 35+ and haven’t started, aim for a 20–25% savings rate to stay on track.

📊 Check the heatmap & find where YOU stand.