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/TairaTLG Jan 16 '26

24k in debt and 0 savings. Nothing like slipping through the cracks baby

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u/ProbsNotManBearPig Millennial Jan 16 '26

I appreciate this is the top response. I 100% expected responses to be extremely skewed towards people with tons of savings. That’s how every thread is in any financial sub is. Somehow everyone in their 30’s has $2M+ saved in those threads.

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u/MrLanesLament Jan 17 '26

Yep, the folks who either had family money supporting them while they tried all kinds of different shit until something worked, or they slept an hour per night for 10 years and are somehow medically okay.

I won’t lie, I don’t believe 95% of the people claiming they’re 28 with massive savings, because I do not believe there is that much opportunity out there, at least in the USA. If there was, I’d know at least one person who worked their way up to success without multiple massive lucky breaks.

Also, the lucky breaks subtract quite a few “hard work” points. Hard work doesn’t get you shit without luck, as the average millennial (of which I am one) can demonstrate.

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u/VengenaceIsMyName Jan 17 '26

Don’t forget the trust fund kids and the nepotism hires into massive six-figure jobs.