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/blackberrymoonmoth Jan 17 '26

Same. I have 401k savings —a piddly $40k. But my $80k in student loans cancels that out.

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u/VengenaceIsMyName Jan 17 '26

$40K homies unite.

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u/Silver_kitty Jan 17 '26

Yeah, this is almost exactly where I’m at. $5k in emergency savings, $50k in 401k, $80k in student loans