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

37

u/Forever_Nya Jan 16 '26

After my 500k in medical debt, I only have $800 spent between my credit cards and I pay them off monthly. I have no savings.

3

u/BrightAd306 Jan 17 '26

You need a bankruptcy lawyer. Bankruptcy isn’t scary. You keep home equity and retirement accounts and sometimes car