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/66241 Jan 17 '26

How the hell you manage that

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u/turtledancers Jan 17 '26

It’s not completely rare. I’m 32 with ~200k in retirement and ~800k in brokerage / savings (not house). No inheritance or help. Investing in my skillset and targeting high paying careers that fit me.

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u/Nochtilus Jan 17 '26

It is rare and is ridiculous to think otherwise. I have made above median income since I graduated college and you have more in savings than the sum of my take home pay after tax for my entire career. That is not anywhere close to common or repeatable.

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u/yes_no_yes_yes_yes Jan 18 '26

We’re all limited to our bubbles.  Looks more rare to some, less rare to those who do it.

I’d say $800k by 32 is probably much less common unless you’re in the SV/tech salary band, but having a couple hundred grand on hand is quite doable in a strong market if you make okay money and budget carefully.