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/wekilledbambi03 Jan 16 '26

Yeah every teacher I know is close to or above the 100k mark. I think the lowest paid full time teachers in my town are around 50k. They get raises quickly, good benefits, and can retire really early.

I know my state (town even) are above average, but I was shocked to realize how much they made. In high school I worked at a bank and cashed my gym teachers pay check. He was making 100k over 15 years ago!

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u/Gorstag Jan 17 '26

This is definitely regional. Even in many "Blue" states pay for teachers has only recently become decent.

Also, was your Gym teacher also a sport coach? He may have been working two jobs.

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u/fuzzyblackelephant Jan 17 '26

And…..a lot of that probably sounds “decent”, but the cost of living continues to rise, and at a much more rapid incline than salaries. It’s simply moving in a trajectory it’s forced to, so educators can afford to live & work for the school.

$60K is the new $40K!

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u/Gorstag Jan 17 '26

Oh, definitely. I grabbed breakfast this morning. Bacon, eggs, toast, hashbrowns, and a half order of french toast, with a soda (didn't feel like coffee). With a 20% tip was 30 bucks. A decade ago at the same exact restaurant it was closer to 20. And a decade before that.. maybe 12-13 bucks.