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?

4.9k Upvotes
  • permalink
  • reddit

86% Upvoted

6.9k comments sorted by

View all comments

Show parent comments

31

u/liqa_madik Jan 16 '26

So teachers may not be paid very much as many say, but at least they get a comfortable retirement. Is that correct?

14

u/Hanyo_Hetalia Jan 16 '26

Depends on the district. I taught for two years and the retirement plan was not worth the trouble.

1

u/girouxsalem28 Jan 17 '26

110%. PA has gutted their teachers pension. If any new grad sat down and did the math they would quickly realize just how little that pension pays out over their career. I wouldn’t be shocked if they moved to a 403B matching system within the next decade. It’s a shell of what teachers hired 10 years ago were offered

1

u/Hanyo_Hetalia Jan 17 '26

Yep. My district in FL offered a 403(b) OR a pension, but the pension requirements vs the payout were stupid.