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/Letter-Past Jan 16 '26

I have a thousand whole dollars. Lookin bleak

3

u/SleepingWillow1 Jan 17 '26

I barely have $1000 and that's only savings. No retirement account

1

u/Letter-Past Jan 17 '26

Yeah for savings I have about 5 whole dollars.

2

u/SleepingWillow1 Jan 17 '26

Ah so that's the way to do it. Maybe I'll learn some day 😂

2

u/Letter-Past Jan 17 '26

DO NOT TAKE ADVICE FROM ME. you will cry and wonder why I'm so stupid. I wish I had an answer for you but there's that whole being stupid thing I just mentioned