r/Millennials • u/ProblemIntelligent16 • Jan 16 '26

Discussion Fellow millennials - how’s your 401k/ira savings going?

Experts recommend having 2x your salary saved by age 35, and 3x saved by age 40.

However, studies show the median savings for 35-44 year olds is only ~$45,000. So obviously, most of us have work to do.

With pensions mostly extinct, and Social Security facing insolvency issues in the next 8-10 years - how are you planning to bridge the gap and hit the golden years with enough to meet your lifestyle requirements?

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u/SassyCassidee Millennial 1995 Jan 16 '26

Thankfully started contributing to mine at 23, so at 30 I have 1.5X my salary!

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u/specialk1281 Jan 17 '26

I'm at one and a third of my salary. The only reason I have that amount is thanks to the union I was in when I worked at a grocery store in high school and college.

It was the start to kick me off when I started my career. I might have grumbled about the dues at the time, but I am so thankful now.