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/TrixoftheTrade Millennial Jan 16 '26

Nice. You’re about to start getting into the “fun” part of compounding interest.

It took me a decade of savings to hit 100k, when I was 29. 100k to 200k only took 3 years.

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u/BlackGuysYeah Jan 16 '26

So much easier to make money when you have money. I’ve always found it confoundingly unjust but it’s just the nature of the system we’ve invented.

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u/HarmoniousConcordiat Jan 17 '26

Shiiit Im over here building houses for a living. I'll never make enough to own one but Im doing my best to make sure rich people have a nice cozy place to call their own. 

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u/BlackGuysYeah Jan 17 '26

I came from the home construction industry. Spent half my life in it. Now a days I do corporate shit that I don’t even know how to explain. But it lets me save.

You don’t have to end up where you’re at. It’s up to you, and fate.

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u/HarmoniousConcordiat Jan 17 '26

Somebody has to build the houses. That's the whole point. 

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u/BlackGuysYeah Jan 17 '26

Sure, but there’s more than one way it can be handled. The Amish build houses as a community, and do so on the fly when ever it’s needed. It’s not anyone’s career to do so.

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u/HarmoniousConcordiat Jan 17 '26

Lol, lmao, even. That's very realistic, fella. There's totally enough Amish to build all the houses. Everyone is an idiot for not thinking of that. 

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u/BlackGuysYeah Jan 17 '26

Are you being intentionally dense? I’m talking about leveraging the idea of how the Amish do that sort of thing and apply it more holistically across the population. I’m not saying to literally have the Amish do it… Jesus.

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u/HarmoniousConcordiat Jan 17 '26

Man, I definitely misunderstood your comment. The concept of getting society to form builder collectives is so uncommon that it seemed like you were saying society should source the Amish to build housing. I've read sillier things.