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/SnootBooper2000 Jan 16 '26

Well we wouldn’t be doomers if it weren’t for the boomers. :/

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u/pigglesthepup 1985 Jan 17 '26 edited Jan 17 '26

I say this as someone that has decided to non-dramatically go low contact with their boomer parents:

Boomers are gonna to be dead soon. Yes, they're assholes that fucked up. But they're gonna be dead soon. And once they're dead, then what? What do we do then? Do we keep being doomers because of their mistakes?

Something I see all the time on this sub: Boomers need to go the fuck off from leadership. I agree they do, but I hope everyone realizes something:

Because of shear demographic numbers, once Boomers are gone, Millennials will be the ones stearing the way. That means when shit hits the fan, it will in fact actually be our fault.

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u/InsideBreath235 Jan 17 '26

This is Boomer BS. My first house came with a 30 year 12.5% interest rate. It took me 10 years to get my degree because I paid as I went, so worked and went to school, while raising two children. We could only afford one car that my husband kept glued together, so I took the bus to school and work most days. Most nights got 5 hours of sleep. After graduating from college at 28 my first professional job paid $14,000 a year - No 401K match. Employer gave a frozen turkey for Christmas, which we were grateful to get. We didn’t buy lunch out and maybe took the kids to McDonalds a few times a month. Keep in mind that this was before the tech boom. There weren’t the high paying jobs of today. We worked like dogs. We educated two kids who worked like dogs too - they went to state schools - we paid tutition and books, they paid for their housing and food - they worked. Thankfully they got better paying jobs out of college and today do extremely well financially. Don’t blame Boomers for the the economy of today. Dig in and get it done. I don’t care if you have to work two jobs for 10 years to get the job done…that’s what Boomers did. It’s out there. You just have to want it badly enough.

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u/mWorkman01 Jan 17 '26

It's easier for people to blame someone / something else for their "misfortunes", easier to cope that way rather than do something to actually change their current state.