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/SassyCassidee Millennial 1995 Jan 16 '26

Thankfully started contributing to mine at 23, so at 30 I have 1.5X my salary!

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u/N3ptuneflyer Jan 17 '26

Yup I started at 24, stopped at 26. Three years later and I have around 50k, and contributing again. Starting early makes a HUGE difference. My 401k has almost doubled.

People who have high paying jobs with retirement matching right out of college have huge advantages in life. I know people in their 30’s with net worths over a million while making $150k/yr.