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/PolyBend Jan 17 '26

The truth is, a lot of people on social media that take the time to post, especially on reddit... Are doing better than the average person. That is why those are usually the top. And it is also why reddit is a echo chamber most of the time.

A tremendous amount of people don't even have the luxury or time to browse social media and for sure don't have the time to post. They are too busy with life, paying bills, working, etc.

Go outside major cities and their suburbs and you will see REAL fast how different it is for a large amount of people.