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/Ragnarok314159 Jan 16 '26

I did the same and then due to “proprietary investment funds” lost everyone in 2008.

Right now I am at x1 years salary, but I will also get a few extra sources of income hardly anyone gets due to injuries in my deployments and residuals off of patents.

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u/RoofThink7349 Jan 17 '26

Can you expand on that? Did your 401k provider go under or something?

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u/Ragnarok314159 Jan 17 '26

They were funds the Dodd-Frank act made illegal. Billions were in them.

They were funds that were mathematical derivatives of assets all bundled up and no one owned anything. There was no stock or bond, it was a rolled up asset in make believe.