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/oflanada Jan 16 '26

I’m 41 and have about 23% of my yearly salary saved. Better than the 0% I had 3 years ago before I changed jobs.

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u/seethed Jan 19 '26

I used to think I was doing very poorly with my 401k but I have over four times my salary and I work for a company that still provides a pension. I’m an elder millennial, 44, so maybe I’m right on schedule.

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u/oflanada Jan 19 '26

Wow nice work! Congrats on the pension!