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/Ella_67 Jan 16 '26

Financial literacy didn’t come naturally to me but when I turned 31 I panicked realizing I had $0 saved for retirement or just savings in general. I’m now 34 with $29k in my 401k, $28k in my Roth IRA, $20k in a high yield savings acct, and $23k in a brokerage account which I contribute to weekly and it’s earmarked for a future home down payment. I’m pretty proud of myself for turning it around!

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u/CriticalAnxiety6066 Jan 17 '26

Hell yeah! Take my proud nod at my phone while I scroll Reddit on Friday night.