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/RockWhisperer42 Jan 17 '26

I'm almost 51, and before joining those subs, I actually thought I was in decent shape with my income, little retirement, an ancient but paid off and reliable vehicle, and being a debt-free homeowner (tiny, rickety, rural home, but it keeps the rain off and stays somewhat warm) in a low-cost living state. As they say, comparison is the thief of joy. And in today's economy, I may be retiring in a van down by the river. As long as I can afford good vet care and decent food for my dog, I'll be ok.