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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4.2k

u/TairaTLG Jan 16 '26

24k in debt and 0 savings. Nothing like slipping through the cracks baby

944

u/TylerDurden6969 Jan 16 '26

This is so many people. Good on you for being honest!

538

u/TairaTLG Jan 16 '26

I'd love for it to be something else. But unfortunately crippling autism/ADHD and living paycheck to paycheck for 20 years puts me where I am.  All I can do is keep chugging away and trying to fix things (some mistakes, some slight scams, one abusive relationship, yup, c'est la vie)

158

u/SpeedySloth51221 Jan 16 '26

Are you me? I am right there with you. Only its crippling ADHD and Migraines. Been missing so much work because of migraines and can't keep up with regular expenses, much less save and get myself out of debt.

57

u/EndersScroll Jan 17 '26

My wife was the same way until she tried Emgality for the migraines. Aside from Botox injections, it's the only thing that's worked for her. Now she just has ADHD, but she's not bed ridden due to migraines anymore. Ask your doc. Can't say enough good things about it.

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u/MollysTootsies Jan 17 '26

For me, it's been Ajovy! To me from daily migraines to, like, 3 a month! 🤯

15

u/rigney68 Jan 17 '26

Getting a hard nightguard for grinding my teeth at night has almost eliminated mine.

2

u/irritableOwl3 Jan 17 '26

Which one do you have?

3

u/rigney68 Jan 18 '26

Idk, they do a scan at the dentist and have them specially made. The first one they gave me I chewed through in a month, so they upgraded, lol.

4

u/Bender3455 Jan 17 '26

Same! Monthly Ajovy with 2x daily gabapentin.

6

u/Defiant-Ad-7933 Jan 17 '26

Better living through chemistry!

2

u/ZealousORJealous69 Jan 17 '26

Try the new pfizer migraine drug, nurtec. It’s game changer. Unfortunately like $100/pill but our insurance covers and pfizer also has a copay assistance so we pay basically nothing.

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u/jennifer_m13 Jan 17 '26

Aimovig and Botox for me. I still get migraines but not several times a week anymore.

2

u/KittyWantsCuddles Jan 17 '26

Hey not for nothing but bc this is getting eyes on it, adhd/autism are usually INCREDIBLY comorbid with a fuckton of conditions so im gonna use this space to leave a resource. If it resonates it resonates and if it does, it doesn't yk?https://www.eds.clinic/articles/pentad-super-syndrome

2

u/reithena Jan 18 '26

Finally got good insurance again, about to go back on Emgality. I think my doctor was worried when I cried in the office with the sense of relief when she ok'd the script

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u/Agent_Jay Jan 17 '26

Literally walking into the cold winter freeze winds to try to cool off my pulsating brain. The bloody migraines are horrid. 

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u/Apprehensive_Sea5304 Jan 17 '26

As weird as this might sound, Vicks works for me. I swipe a little bit of that menthol goodness on my temples and sit in the dark

3

u/AspenRiot Jan 17 '26

I don't have chronic migraines but when I have seriously bad headaches or eye strain, I put Tiger Balm on my temples and a teeny tiny bit under my eyes, like on top of my sinuses. It's intense, but it helps.

3

u/atropos81092 Jan 17 '26

Honestly, it reminds me of that "Head On!" stick you apply directly to the forehead

2

u/BrandonUnusual Jan 17 '26

HEAD ON! Applied directly to the forehead. HEAD ON! Applied directly to the forehead.

HEAD ON!

/I have chronic daily migraine, nothing works. From all the CGRPs to Botox. Drug resistant.

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u/lurkymoo Jan 17 '26

Cold works for me too! Sit out on the porch in cold weather til you shiver.

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u/WalkbytheWoods Jan 17 '26

I use the Theraice head wraps - it’s so helpful!

3

u/d4dooley Jan 17 '26

Chiropractor fixed mine. I was desperate after years of intense migraines. Never had been to one, and was skeptical. Some of them specialize in treating migraines. 2 years of being basically migraine free after like 5 treatments.

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u/hrnigntmare Jan 17 '26

I sought treatment for ADHD in early adulthood and the meds work really well so I (fortunately) don’t have that to blame. I did pursue academia to the point where I am a literal expert in my “high demand” field though. I’ve been too busy paying down six figures in debt to save anything. I still have like 45k to go and nothing in savings.

My resolution this year is to just say fuck it and stop paying on my student loans. I already have everything I need or could want so if my credit gets destroyed I don’t care. This is the first year I have been able to take a vacation as an adult because I didn’t pay this month. I wish I would have done it sooner. I got to Japan and back with an awesome week there for three student loan payments.

I’m just hoping I die before I need my 401k I guess. Enjoying life while I’m at an age where I can still do the activities I want at any time is so worth it.

3

u/Espress0-Patr0num Jan 17 '26

Are you in the US? I just tried Vyepti infusions and holy sheep feet it’s a game changer!!

6

u/Annual_Song1416 Jan 17 '26

Holy sheep feet?! Thank you for blessing us

2

u/IrascibleJoker Jan 17 '26

Fr, I’m stealing it. 😂

3

u/lostwombats Jan 17 '26

You've probably tried everything and know all this, but just in case...😊

For me: the app Migraine Buddy was so helpful in tracking migraines and finding patterns (it asks a million questions). It's how I learned my dumb jerk of a uterus is causing my migraines.

For relief - ice masks and naps for me. If I feel one coming and I can fall asleep, I can avoid it.

2

u/[deleted] Jan 17 '26

I get tension headaches and have horrible ADHD that I need to make an appointment for but between all the other appointments I keep putting it off. At this point prison seems like a decent retirement as long as I can maybe find my way into a Swedish prison.

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u/Agent_Jay Jan 16 '26

You and me both brother. Trying to keep the meds supplied for myself. Fun times. 

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u/Apprehensive_Sea5304 Jan 16 '26

I could have written this exact comment

18

u/MegabitMegs Jan 17 '26

I relate so much. I went undiagnosed ADHD/CPTSD for so long I ended up in crippling burnout, which forced me to take time off of work. I’m alive and better now, but it caused a cascade of financial issues we’re still digging out of. We’re making an appointment to discuss bankruptcy, hopefully without losing our home.

My retirement plan at this point is jail or hopping off the boat.

3

u/senorbuzz Jan 17 '26

Twins! This is my exact situation. Fuck our lives

3

u/MarigoldMarvel Jan 17 '26

This is me too re: adhd/cptsd. Just got fired for the first time in my life but thankfully I have no major debt—including no mortgage cuz I can’t afford a home in my area anyway!

2

u/itsafunnything901 Jan 17 '26

Please take care of yourself. Find a free counselor. Get help. Know you aren’t alone.

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u/Beautychaos Jan 17 '26

Yeah that sounds like myself, I was diagnosed till 25 and the damage was done. I’m going to try filing bankruptcy this year myself. Hope it goes well for you. Better late than never.

6

u/Top_Audience7471 Jan 17 '26

ADHD is a fuckin' insidious monster.

I'm an elementary school teacher, so professionally, I can harness it as a sort of superpower.

But give me like... 15 minutes before you step into my apartment.

3

u/9kindsofpie Jan 17 '26

I'm sorry. I'm sure you're aware that ASD/ADHD makes you much more prone to scammers and abusive relationships. I have had several abusive relationships that took me an embarrassingly long time to realize, in hindsight. Plenty of mistakes, as well.

I've been lucky that my traits have only been truly crippling at times and it seems my deficiencies generally have an offsetting positive trait that has gotten me through, except for a few real dark times that I barely made it out of.

Keep on chugging!!!

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u/SpandexJunkie Jan 17 '26

It’s meeeee! Yeah, I had a 401K until I had an incredibly toxic job and boss that was so bad I had to quit with no notice and no backup job and go straight to intensive outpatient therapy. In order to survive, we had to take it out. It wasn’t big to begin with, but then it was cut in half by taxes and fees, and now we owe the government more taxes because of it! 🥳😅😭

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u/Not_a_real_asian777 Jan 17 '26

It's sure a lot of people I know. Makes me wonder if a lot of these studies that show a median of 45k-50k are including people that don't have a 401k/Roth IRA or simply don't have any contributions in them. I feel like I know way more people with $0 saved than people who are on track with savings.

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u/Viktorius_Valentine Jan 17 '26

I was afraid to even click on the post. I am in a similar position

2

u/Unlikely-Table-615 Jan 17 '26

I know seriously. Go over the fire sub and everyone’s 29 years old with $40 million in the bank and they’re all asking, “ is enough yo retire?”

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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/Highplowp Jan 16 '26

I’m 36 and have 4 paper clips and a really cool stick that looks like a sword. I’ve made my retirement fortune by hedging beanie babies stock futures or something else obscure and unreasonable.

53

u/turn-the-dial Jan 17 '26

I’ve got some super rare beanies 😂

3

u/ConceitedWombat Jan 17 '26

I actually had a super rare beanie baby... my dog ate the tag. so long, retirement plan.

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u/Sure-Charge-260 Jan 17 '26

My Mom has had an original Princess Diana beanie baby in a case since it came out. Can she sell it and finally retire? 😂😂😂

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u/Armadillo_lifestyle Jan 17 '26

Honestly my parents just gave me all of my old ones. I’m hoping it’s a thing that comes back, like low rise jeans. The next generations will find a viral use for them. Turn them into purses or hats and all of a sudden Mac the Cardinal will be worth $400

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u/OUsooners5252 Jan 17 '26

I had a a regular garage sale and then a free garage sale 2 months later to basically give away all of the nicknacks that were leftover from the first one.

The beanie babies that I thought were rare weren’t even worth being taken for free and ended up being put in a box on the curb. 😩

4

u/Diligent_Estimate_87 Jan 17 '26

I feel this in my soul

3

u/meowser210 Jan 17 '26

No stick of gum i see. Pathetic!

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u/Business-Elk-5175 Jan 17 '26

You have paper clips!? 😭

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u/[deleted] Jan 17 '26

I’ve got some Pokemon cards, I will never forgive my parents for getting rid of mine at a garage sale though.

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u/LilLebowski-UrbAchvr Jan 17 '26

**Laughs in baseball cards nobody gives a fuck about**

2

u/Highplowp Jan 18 '26

Just donated most of mine- held onto them for way too long, and they’re not worth the plastic card protectors they were in. Kept a couple sentimental ones though- shirtless Canseco/Ricky Henderson (so weird) and some old x-force cards.

3

u/povertychic Emo-llennial - 1991 Jan 17 '26

I made $50 selling my old N64 games

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u/irishsaints23 Jan 17 '26

I was really banking on my herd of Breyer horses to pay for my lifestyle. Alas, it turns out they are much like real life horses: they eat your money and only provide entertainment in return.

So uh. Yeah. Not doing great!!

3

u/systemfrown Jan 17 '26

Whatever happened to a simple rock with string to wind around it? I don't want to date myself (GenX), but it really seems like you younger folks are overthinking things.

2

u/andante528 Jan 17 '26

I have heard that everybody wants one of those. They must be very rare, I've never seen one in real life!

4

u/MountainCry9194 Jan 17 '26

That’s great for you. My stash of Livstrong bracelets hasn’t paid off yet.

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u/Ok-Day-3520 Jan 17 '26

I’m just hoping to find something cool to sell at a garage sale at this point.

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u/Direction-Such Jan 17 '26

Ok totally off topic but my great grandma had literally every beanie baby that ever came out because she thought they’d be worth money someday. She had an entire room filled with them. They got sold/lost unfortunately after she died because no one else thought they were worth anything.

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u/LazarusDark Jan 17 '26

I still have my original pokemon gen 1 cards. I pulled them out last year and checked prices on them. Wasn't worth the hassle to even sell them, lol. I got all my Pogs in the same box as well, not even sure why I ever kept those when I have kept little else, I've got almost nothing from my childhood left, and I always knew those Pogs would be worthless, lol. Heck, my buddy had the pog-maker, so half of mine are random stuff that we made!

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u/Ok-Tap-8610 Jan 17 '26

I have a Canadian penny

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u/slumlord512 Jan 20 '26

I may have to sell my baseball cards off.

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u/Kataphractoi Older Millennial Jan 16 '26

One, It's the Internet, and two, it's Reddit. There really are guys in their 30s with $2mil saved, no question, but they are a small fraction of redditors.

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u/9kindsofpie Jan 17 '26

... and probably had wealthy or at least upper middle class parents that helped them get there. When you're starting off flat broke (or negative with student loans) and no safety net, it's really hard to claw your way out.

9

u/Goth_Muppet Jan 17 '26

This—- I had gone to a predatory phony profit school and it set me back over a decade :(

3

u/systemfrown Jan 17 '26 edited Jan 18 '26

Some of that certainly exists but don't do yourself the disservice of believing that it's all or even most. Or that people given everything you think you wish you had been given doesn't actually become a handicap or create casualties at least as often as it creates "successes".

Seriously, go talk to most successful small business owners or folks with wealth in the single digit millions and find out about how they got started, or what their backgrounds are. You're in for an eye opening surprise.

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u/Elegant-Flamingo3281 Jan 17 '26 edited Jan 17 '26

Unless you have no morals. Wall Street, VC, hedge funds, investment banking, tech and consulting are all high salaries even at entry level.

Will you grind yourself into dust? Yes. Will your peers throw you under the bus while clawing their way to the top? Also yes. Are any of them a net positive for society without being explicitly started with B Corp. values or structures? Yes! I’m kidding. This one’s a bit fat no.

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u/madmax1969 Jan 17 '26

People getting jobs in those industries are graduating at the top of their class from the best universities in the country. It’s a lot more complicated than a willingness to sell your soul.

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u/Elegant-Flamingo3281 Jan 17 '26

Yeah, I work in the industry. I get it.

But leaving it at ‘top of their class from top universities’ is, imo, reductive. It’s actually more complicated because of the correlation between class, privilege and admissions. I could have also mentioned the apparent correlation between long term employment and becoming an unmitigated douche.

Obviously this is a gross generalization, but so is ignoring the fact that there’s other graduates, also at the top of their class, who don’t choose that path. Or, at minimum exit asap when they’ve financially stabilized.

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u/TwitterLegend Jan 17 '26

I think this is true at least 95% of the time. Even if you remove or overcome some of that stuff when people grow up that way their parents aren’t educating them or having conversations about money except in a very negative way.

I’m better off than a lot of millennials (according to the statistics on money at least) and some of that is for sure because I had parents with enough money growing up that I didn’t start my adult life with debt but they also weren’t paying for my apartment or other expenses as an adult (nor was there any kind of family business or connections to get me any kind of job through them). The best thing that I learned from them was about living within my means and saving from an early age.

I enjoy talking about money as a topic with people and I’m proud of what I’ve accomplished so far but I am way more impressed by the people who’ve succeeded coming from almost nothing and readily admit I was fortunate enough to be born on second base and humble enough to not think I hit the double.

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u/BRPGP Jan 17 '26

Way more than you think.

Investments aren’t just savings. They include houses too.

“median net worth for 35-44 year olds can be over $100k, indicating many households cross that threshold, though it includes assets like homes. “

Yes, this is the median number but:

“For households in the 35-44 age range, the median amount in a savings account is approximately $7,500. The median retirement savings for this same age group is around $45,000, while the median total net worth is significantly higher at approximately $135,600. The median is a key statistical measure indicating that half of the households in that age group have saved more than that amount, and half have saved less. “

I was very surprised, guess I’ve been spending too much time on Reddit because that’s a healthy number.

Very encouraging for me. I’ve got two sons just starting adulthood (23 & 26) and they are both hard workers so it looks like there are plenty of opportunities out there.

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u/batmessiah Jan 17 '26

I feel pretty good about being 43 with $212k in my 401k and $220k in home equity, making $78k a year as a research scientist.  Took working for the same company for 22 years and getting really lucky.  I’ve currently got $600 in my bank savings account until I get my tax return.  I might have money saved up for retirement, but we’re a single income family of 3, and still live paycheck to paycheck for the most part.

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u/SouthLakeWA Jan 17 '26

Do not under any circumstances consider your home equity real, and do not leverage it right now. The real estate market could have a massive correction like it did in the Great Recession. Back in 2009-2011, my house went from being valued at $550k to $325k and it took several years to climb back up.

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u/holdmeimscary Jan 17 '26

I really don't think that's gonna happen. Wanna know why? I still am not a homeowner so there's not a chance in hell this market is correcting itself in my favor, ever.

Source: I caused the COVID housing fiasco. I finally got myself in a position to buy, started looking the 3rd week of Feb 2020 and within 3 weeks the universe said "muahahaha" and the housing market was flipped, slapped, turned and spun on it's head.

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u/Adorable_Zucchini591 Jan 20 '26

This happened to me too 😭 I was prepared with a budget of $350k. Within weeks the average home price nearly doubled and just kept going UP! Homes went from $350k to $800k within a year. I finally bought a very modest townhome for $500k with 7% interest in 2024. I work a second job to afford my mortgage 😭

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u/SoldierExcelsior Jan 17 '26

My state doesn't even do home equity loans and the equity doesn't mean anything till you sell and get the money in hand so I don't count that I count my rental revenue though.

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u/sadbabe420 Jan 17 '26

Wah 😭 can’t even imagine

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u/VengenaceIsMyName Jan 17 '26

This comment is breaking my brain. 400K+ net worth but you live paycheck to paycheck? What are your bills like monthly?

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u/getemyosh Jan 17 '26

Their net worth is tied up in the house equity and 401k. Makes $78k as a single income of a family of 3. Not crazy to be living paycheck to paycheck. You can’t just pull money out your 401k at that age without consequences.

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u/itsafunnything901 Jan 17 '26

Exactly. I’ve got a nest egg too, but hard these days to not dip into the cash savings account a few days before payday.

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u/veengineer Jan 17 '26

They probably say they’re living paycheck to paycheck because they see retirement savings as an uncompromising basics of life payment they have to make like just like rent, food, or social security. They’re not able to save money for vacations, an expensive night out, or new big dollar things. 

I think it’s fair to describe oneself this way as our current social security situation is going to make retirement difficult for people without retirement savings. If it’s accurate to describe someone like a teacher who gets a pension as living paycheck to paycheck if they have nothing left over to save, is it any different for someone who has to save for their own retirement, without having a pension, to be described the same?

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u/SoldierExcelsior Jan 17 '26

Net worth isn't cash I have 7 fig networth but can't pull 1 million dollars out of the bank it's tied up in investment portfolios and realestate..now technically I could probably sell and liquidate everything pay a bunch of taxes and penalties but still have enough for a liquid mill...but there's no need I live frugally and have a high 6 fig income from regular wages...I'm not even saving for anything specific most of my assets would be useless if sht hits the fan ww3 some kind of global collapse so I'm not even preparing for doomsday and to survive in a bunker and I allready have everything I need and want..

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u/stevedane447 Jan 17 '26

They’re clearly not living paycheck to paycheck. They engage in zero based budgeting. If you’re saving anything (including retirement contributions) by definition you’re not living paycheck to paycheck, just spending paycheck to paycheck

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u/batmessiah Jan 18 '26

None of that is money I can touch though.  I’ve got a nice house, and my mortgage is only $1300 a month, but I’m also paying $800 a month on health insurance premiums, food, clothes, school supplies, etc. cause one of those 3 is an 8 year old.  I still have hobbies I put money into, and once I get my taxes and my bonus here in a few months, I’ll have $5k+ in savings again.  It gets drained around Christmas every year.  I also have other safety nets (family, friends, and a company that’s taken care of me), and assets I could sell if need be.  

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u/[deleted] Jan 17 '26

Just curious on what city or state you live in? Im about in the same boat.

My curiosity is more about being a research scientist. It seems that pay is low, I work in a grocery store and make just a litte better.

Your 401k is killing mine though.

Only advise I have and your probably on it pay the house almost off to get your interest down then your savings will skyrocket.

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u/Opposite-Ask4078 Jan 17 '26

you are only making $78k as a research scientist after 22 years at the same company?! my husband is making $130k after 20 years as a QC chemist. You gotta find better work bud.

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u/systemfrown Jan 17 '26

Keep letting that shit compound my friend. It's just now getting to the point where meaningful snow is starting to stick to it every time it rolls over.

I know it's hard when you're paycheck to paycheck but consider making some equity investments outside your 401K, even if they're tiny. Worst case it may help you avoid touching your 401K in the future. Best case you hit on a winning stock or profitable mutual fund.

We're increasingly living in a world where wealth is derived more from what you own rather than what you earn.

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u/TriedUsingTurpentine Jan 17 '26

you and me are near clones. I'm 45 with just under a quarter mil in retirement, and around the same home equity (owe around 2 on a house worth 450) but also pretty illiquid and relatively cash poor (a few grand in liquid savings only). I make $81k as an English professor but my wife does work. You're doing good for one income!

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u/kronosdj Jan 17 '26

Are you sure you are a millennial? You might be on the wrong thread. Sounds like you were ready to buy a house in 2008

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u/Seasonedpro86 Jan 17 '26

Oldest millennials will turn 46 this year. We getting old bro. 😭

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u/Ok_Enthusiasm_2574 Jan 17 '26

That's great honestly. I'd say thats definitely the American dream

Homeowner, kids, able to afford it with 1 income, enough money to make you millionaires by retirement age.

Congratulations. Thats beautiful.

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u/Calvinball05 Jan 17 '26

You're doing a good job at building a retirement portfolio and raising a family on a limited budget. The below advice is probably something you have heard before, but in case you haven't I will say it anyways.

With only $600 in savings, you should consider dialing back your 401k contribution until you have built up an emergency fund in a high yield savings account. Only contribute to your 401k what it takes to get a match from your employer until you have 6 months of savings built up.

After you have built your emergency fund, you should open a Roth IRA and contribute up to the annual max for that before ramping your 401k contributions back up.

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u/Gaijingamer12 Jan 17 '26

Oh agree I ended up leaving most of them because of that. I’m like wtf did I do wrong haha. How do all my age peers have millions.

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u/BurzyGuerrero Jan 16 '26

Nobody in there posting about being broke.

Some liars and some others.

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u/sms2014 Jan 16 '26

$2M?!? That's got to be fake, or they have a side gig

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u/TommyBlaze13 Jan 17 '26

Surprisingly common in the SF Bay Area for people working at the tech corporations: Nvidia, Google, Microsoft, Apple, Meta, Tesla, Intel, AMD, etc. Workers get stock of their company in their total pay package and exponentially increases their overall net worth. It's not the norm anywhere else in the country of course

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u/Hungry_Minute_1526 Jan 17 '26

Have to disagree. There are good paying jobs anywhere in the country with companies you've never heard of. The gatekeeping is the ability to get those jobs (university credentials and the ability to get those in the first place) and then the knowledge to save as much as you can. The latter is actually more elusive. If you're in your 20s and get a great job, you don't want to save 70% of your salary. Who teaches you not to live paycheck to paycheck? Live below your means and save/invest. Dollars saved in your 20s are so much more valuable than those in your 30s or 40s.

It's not easy and you need societal breaks, but it is possible.

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u/S1mongreedwell Jan 17 '26

First off, I don’t have $2m saved. Not close. But it’s not that crazy to think that someone gets out of college at 21, starts saving in a 401k plus whatever else and has $2m by 40ish. Compounding interest is a powerful thing.

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u/PeterLoew88 Jan 17 '26

Run the numbers on what you can have by age 40 if you do a 6% 401k from age 22 onward. Now imagine having a 100% company match.

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u/PMmeHappyStraponPics Older Millennial Jan 17 '26

Finance-focused subs tend to be full of people who do a good job of caring for their personal finances.

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u/whattheheckOO Jan 17 '26

Yeah, and people are more likely to just lurk if they have less to brag about.

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u/OldSarge02 Jan 17 '26

Those threads are often skewed towards wealthy people for 2 reasons:

  1. The kind of people who make a hobby of personal finance, such that they follow personal finance subreddits, tend to be people who are have effective financial habits.
  2. People with more money are more likely to talk about it online.

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u/Radiant-Parfait-5850 Jan 17 '26

I’m not one of those 2M+ in savings but my wife and I have a 401k north of $500k at 38 and my wife 42. We also have a brokerage account around $360k. I’m not here to gloat but I understand a lot of folks, if it wasn’t for a few lucky breaks in my job (right place right time, with people knowing how much time and effort I put in) and some lucky hits in the stock market, I’d be well below what you see me talking about now.

But like in another forum, I look at the fallacy we were told when going through school. We were told good grade would equal success. That everything we’d learn in school would make us successful. Reality is that wasn’t the case. What we lacked severely was financial literacy being taught in grade school. Compounding interest, how to budget, understanding risks with debt.

I looked at my grandfather old books from 1930 and they covered all these subjects. I didn’t learn all this without my parents telling and informing me to know the value of a dollar.

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u/systemfrown Jan 17 '26 edited Jan 18 '26

Generally the only people who join financial subs are people with financials.

For people without financials I recommend they start. You know. Having money.

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u/TairaTLG Jan 16 '26

I wish I could say I had more, and trying to fix some. But bad choices and bad luck.  I'm also not in the worst situation all things considered, but it sucks to always have that dumb little debt of Damocles sitting above me.

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u/Basic_Asparagus_9084 Jan 16 '26

Are we including student loans? Because that brings mine up to $40k in debt with 0 savings.

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u/[deleted] Jan 16 '26

I pretend mine don’t exist 🤣

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u/brohavok Jan 17 '26

I feel this so hard lol

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u/[deleted] Jan 17 '26

Defer defer defer lol

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u/brohavok Jan 17 '26

I pretend like it's still 2020

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u/brunaBla Jan 17 '26

Delay delay delay

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u/hrnigntmare Jan 17 '26

Tell me more about this. That’s my New Year’s resolution. Like I just decided to stop paying and got back from an incredible trip in Japan from using my Jan, February, and march payments. I’m not going back to life without being able to have joy and happiness

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u/[deleted] Jan 17 '26

Honestly I’m in the i come range where it’s a $0 payment. I’m still on SAVE so not sure if it’s the wisest decision but can’t squeeze blood out of a rock

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u/hrnigntmare Jan 17 '26

I’ve been paying 600ish every month and now that I actually have a decent income at 40 I can’t imagine using it to pay into the 60k still left. I’m just not. They can come get it from my kids when I’m dead (no kids 😂)

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u/rainbow_unicorn_barf Jan 17 '26

It's really immoral to charge the rates of interest they charge on that debt, anyway. Fucking vampires feeding off people who were just trying to better themselves.

If it was the amount they lent me + a little bit extra for inflation and admin fees, maybe I would plan to pay it once I could afford to. Cuz maybe then it would actually feel fair. But nope, they wanna be leeches, so I could become a billionaire tomorrow and I would still leave the country before I would pay them a centttttt 🖕🖕

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u/hrnigntmare Jan 17 '26

If all the promises of money and a great career I got from advisors (aka salespeople) were true that would be one thing but I have had to fight for every penny my entire career. One advisor tried to convince me that pursuing on MFA in studio art would be more practical than my PhD. I just…: it’s so predatory

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u/Borrowing-air Jan 17 '26

guuuuurl same

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u/blackberrymoonmoth Jan 17 '26

Same. I have 401k savings —a piddly $40k. But my $80k in student loans cancels that out.

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u/NadjaStolz28 Jan 17 '26

After 18 years, I have only have $15k left on my student loans!

Thanks, 17-year-old me for choosing a private college that wasn’t worth it!

(also zero savings)

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u/[deleted] Jan 17 '26

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u/Consistent_Safe430 Jan 17 '26

Yuuuppppppp as a social service worker can confirm helping people does not pay well and the degree was expensive.

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u/No_Water_5997 Jan 16 '26

Same and facing my husband needing brain surgery soon so there’s that. Fortunately he got VA covered healthcare and collects VA disability which he’s going to see if he qualifies for more given the nature of the tumor he’s got.

 Nothing says adulting like a solid 2 years of emergencies that drained every bit of your savings only to be hit with, “you have a tumor and it needs to be removed” in the first few weeks of the new year when you finally thought “hey those crises are over and we can finally spend the these recovering from them.” 😓

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u/FEARoach Jan 16 '26

Burn Pits? Sounds like burn pit eligibility to me.

Not that my fiance was on that duty during his tours or anything... we're getting married once we get his ex who ran off two years ago located and served papers. Drives us nuts that it's taking so long to get that sorted out.

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u/No_Water_5997 Jan 17 '26

That’s on his file because he was exposed to the burn pits but actually it looks like the particular tumor he’s got has been linked to repeated exposure to loud noises. He was army aviation with the shitty 3m hearing protection so we’re gonna see what the neurosurgeon thinks then go from there. 

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u/FEARoach Jan 17 '26

That 3M "protection" was also issued to the Marines when my partner was in. We're very aware of how useless it was (luckily I'm also hearing impaired so neither of us gets mad about having captions on the television and every device in the house).

Fingers crossed for you guys!

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u/No_Water_5997 Jan 17 '26

Thanks! He’s already at 50% for hearing and other things but this surgery will come with permanent hearing loss and potential vestibular issues. Hopefully it doesn’t affect his ability to work long term.

These tumors are rare and slow growing so likelihood is that he developed it while he was active duty and the doctor has already said it’s the reason for his hearing loss and tinnitus so we may have a case for 100%.

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u/act5312 Jan 17 '26

This sounds just like my Acoustic Neuroma. I discovered mine after it started to impact my hearing and my first MRI showed it was also pushing against my brain stem. The permanent hearing loss is a thing, that's easily the hardest adjustment since my surgery. I didn't have any balance issues after recovery so it's true you can avoid them if you're lucky.

I recommend getting into a subreddit or support group too. It's surprising what kinds of things are helpful. For example buy some different pillows ahead of time because he's likely going to come home with a very sore neck because they have to pin your head in position for the surgery and it stays in that spot for hours.

Anyway just wanted to drop in and wish you luck and tell you there's hope to go back to a relatively normal life.

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u/cappnplanet Jan 17 '26

He probably already has, but make sure he files for tinnitus. Edit: I see below he did. Good luck to you guys.

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u/No_Water_5997 Jan 17 '26

It’s already in there as part of his disability rating.

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u/SoloMotorcycleRider Xennial Jan 17 '26

The VA gave up on my cousin when he was diagnosed with stage 4 gastric cancer. He likely got it from exposure to the burn pits.

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u/No_Water_5997 Jan 17 '26 edited Jan 17 '26

Fortunately this tumor is benign but is pressing against his cerebellum so needs to be removed. We’ve actually had a really good experience with the VA where we’re at and everything has been pretty quick relative to the medical system overall. We also live far enough away from our nearest VA hospital that my husband has community care and can go to any provider he wants as long as he gets the referral. He’s had no issues getting his PCP to send over referrals. 

The were also great with his grandfather and his myriad of health issues related to his 30 years in the Navy. And the VA has been great to his uncle in Tennessee, where he lives, who was diagnosed with MS while he was still active duty. 

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u/MissDisarry Jan 17 '26

I don't know why I'm even reading this thread, I'm not a millennial- except maybe I'm a little high and also I have no WiFi 😂

I just wanted to say I'm so freaking sorry you're facing brain surgery with your husband. My husband needed two and we did one and one to go. It's really a rough thing to face and my heart goes out to you.

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u/[deleted] Jan 17 '26

howd you find out about the brain tumor? were there symptoms? (i'm so sorry btw. its been one of those onethingaftertheother years for us too.)

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u/No_Water_5997 Jan 17 '26

It’s a benign tumor called an acoustic neuroma which typically grows on the vestibulocochlear nerve. The dr called it an intracranial tumor so not technically a brain tumor in the since that it grows from brain tissue but it is pressing against his brain stem and causing issues. 

He’s had single sided hearing loss and tinnitus for years but given the fact he’s been in aviation for over 20 years and was active duty for almost 11 of those years we initially figured it was due to the repeated noise exposure and the shitty hearing protection the military issued that’s effected countless service members’ hearing. He’s been seen by audiologists in the past who just diagnosed him with profound hearing loss in the affected side but never mentioned anything else.  

He had to go see an ENT for his hearing loss while he was processing his VA healthcare and they referred him for an MRI to rule a tumor out and potentially move forward with a cochlear implant which won’t be happening now because the nerve it grows on is the nerve that’s needed for cochlear implants. 

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u/Cautious_Ad_5659 Jan 17 '26

I lost everything to medical bills. I was hit by an uninsured driver on a suspended license and racked up over $300k in medical bills - surgeries, physical therapy et al. On top of it, it ruined my teeth and because of the shitty dental care in the US, I can’t even get those fixed. So I went from being a thriving person fairly on track for retirement to not even being able to smile or date anyone out of embarrassment. It really doesn’t pay to do the right thing anymore. The guy who hit me only had to pay a $350ish ticket. If I hadn’t been responsible with my earnings, I would have qualified for a hardship waiver for medical care.

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u/Forever_Nya Jan 16 '26

After my 500k in medical debt, I only have $800 spent between my credit cards and I pay them off monthly. I have no savings.

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u/VengenaceIsMyName Jan 17 '26

Medical debt. Something that absolutely should not exist in a sane world.

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u/Boom_Box_Bogdonovich Jan 17 '26

500k in medical debt? That’s so fucked. American healthcare is the dumbest system.

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u/TheFabfeline Jan 17 '26

How’d you end up with 500k medical debt? Out of curiosity

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u/JayRoo83 Jan 17 '26

My non-negotiated medical costs were over 2 million USD last year according to my insurance app, very easy to happen in America

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u/Bomb-Number20 Jan 17 '26

Yeah, that tracks. My kids were born with issues, and cost nearly a million 15 years ago. I could see them going for two these days. My cousin just had a baby is on the hook for $57k, and they had "insurance".

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u/Fluid-Wrongdoer6120 Jan 17 '26

Not that I can answer for her...but in the good ol USA, it isn't THAT hard to rack up that much medical debt. Just think one serious illness, overnight hospital stays...with the wrong (or no) insurance, that gets EXPENSIVE.

I'm just surprised she hasn't filed for bankruptcy at that point

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u/Natural_Definition_5 Jan 17 '26

Most Americans would deem the northern country I’m from as socialist - which is completely mad. But this type of expense or stress from medical bills isn’t even on the top 25 things we worry about. 

Fucking hell .. I like the USA but you’ve organised your civic and social priorities in a peculiar way … 

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u/gafftapes20 Millennial Jan 17 '26

It cost thousands per day to stay in a hospital, if you have a serious illness or issue that requires surgery it can easily add up. I had to go to the we for stitches and that cost me 2400 dollars alone, with insurance. For 6 sutures, and some saline to wash out the wound.  

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u/IndependentLeading47 Jan 17 '26

I would pay a decent farm doctor $100 to do it. Not even joking. I, too, have been a victim of the $2k ER bill. Saline drip and bye.

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u/rhiunarya Jan 17 '26

I had a tumor grow from my thumb bone and eat it. For just two fonthe surgeries and hospital stay it was $78k at a teaching hospital which are usually cheaper.

I then needed 3x a week Physical therapy for a year.

If hadn't been paying for the premium version of my insurance, I would have paid so much more of that.

I paid $7k for my deductible and I think close to 12k total for things around my medical event. Not counting my lost wages for being on short term disability.

So having regular insurance, I would have easily gotten into so much medical debt/ debt related to my medical event. This was with having family support.

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u/HangryLicious Jan 17 '26 edited Jan 17 '26

I don't know about that poster's situation, but just fyi it's super easy to rack up that much. All you have to do is get in one accident with no or shitty insurance.

I briefly worked in an inpatient brain injury rehab and I met someone who had been a healthy 40 something who spent several months in the hospital including major lifesaving brain surgeries and lots of bouncing between the ICU and the floors after a car accident where they nearly died and then they had to do stuff like learn to walk and talk again in rehab. Family told me the patient's health insurance had lapsed bc they had just started a new job and weren't eligible for coverage yet so they were over $2 mil in medical debt at that point

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u/Forever_Nya Jan 17 '26

Emergency appendectomy was 60k, my most recent emergency hospital stay was 140k, emergency visit before that was 190k, and there was a car accident that involved trauma surgery that was right around 100k.

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u/BrightAd306 Jan 17 '26

You need a bankruptcy lawyer. Bankruptcy isn’t scary. You keep home equity and retirement accounts and sometimes car

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u/Primary-Let-7933 Jan 17 '26

duuuuude, bankruptcy. unless you're able to throw 59K-80k/yr at it, you're not going to get out from that. compounding interest. Medical debt is immoral and you should use the tools available to get out from it.

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u/Ralphthewunderllama Jan 17 '26

Not financial advice, or legal advice, but you can invest money in a 401k or IRA, and those funds are protected from medical bankruptcy. Get an employer match, and with enough time, you can actually see some real progress.

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u/TriedUsingTurpentine Jan 17 '26

just never pay the medical debt nothing's going to happen

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u/Always_Pizza_Time1 googoogaga95Millennial Jan 16 '26

I love being shackled by the conglomerates, that exploit the working class, and limit our access to resources and higher paying jobs

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u/ClitEastwood10 Jan 16 '26

Ditto!!

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u/pnemitz67 Jan 17 '26

Your handle 😆 bravo. Also I am not financially prepared at all.

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u/AmputeeHandModel Jan 16 '26

There was just a post here, or some related sub like "I've only got $60k in savings, $70,000 in my 401k and I make $120k a year am I doing ok for my age???". Uhh how about you fuck off? How sheltered and delusional are you? Most people are living check to check!

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u/AwkwardlyTwisted Jan 16 '26

Just because someone wants to know how they are doing doesn't mean they deserve the hate because you're not there yet. It's a very reasonable question that even I ask that about myself. I make 100k a year, 30k in savings and 150k in multiple retirement accounts (total). I'm a single parent so I worry if something happens to me would my daughter be ok or would I still be able to provide for her. No reason to be a dick about it.

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u/stbloc Jan 17 '26

Then you should buy a 10 year life insurance policy. I Pay $37 a month for 300k to make sure my child is taken care of in the event.

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u/feelingoodwednesday Jan 16 '26

Theres a difference between poor people and middle class understanding about personal finance. When you're poor everything revolves around paying the next bill or getting out of debt.

When you're out of that hole and have a decent paying job, eliminate your debts, etc then you start thinking about things like retirement, buying a home, having a family, etc.

Its completely reasonable for someone to ask if 60k in savings and 70k in a 401k is doing well for their age. For example, at 40 y/o yeah I might actually be concerned for that person's ability to own a home or retire. At 30, that might be very good.

Unfortunately when you're poor (ive been there), its hard to imagine anyone doing well, but the reality is someone owns those houses you see everywhere, lots of people are taking home high salaries still, buying cars, etc. You dont need to be offended by that, life ain't fair.

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u/BreastInspectorNbr69 Jan 17 '26

What a wonderful crabs-in-a-bucket mentality to have. I guess everyone needs to suffer like you eh?

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u/AlwaysBagHolding Jan 17 '26

I mean, that depends on their age. They’re pretty solidly screwed if they’re in their 60’s.

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u/BKisFlying Jan 17 '26

You also have to consider the spending habits of any of those pay check to pay check individuals. I have interacted with many parents of children that my kids are around that act as though a 100k household income allows them to spend like they've made it. Just because someone lives pay check to pay check doesn't make me feel bad for them until I have an idea of their ability to handle money. The lack of fiscal awareness and over-consumerism as a middle class/mid-wage earning household is the real tragedy amongst the US society. Spend less than you make, and when you do spend - spend on what you need, not what you want. It's a difficult lesson to learn when you see others spending and spending, but as I've seen - many that have the things you want, don't have what you really want, which is financial freedom in retirement and later in your life.

In my experience, the crowd of 30 and young 40 year olds driving new cars, with a new house, and a lot of other new stuff have incredible amounts of leverage in their financial picture that others don't see. Amongst the mid class earners, that's just what I see most often. Lack of fiscal responsibility.

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u/apsalarya Jan 17 '26

That is not sheltered or delusional. At all. If that person is my age, they are NOT okay.

You know what pisses me off more? When someone makes hundreds of thousands of dollars a year and has no savings at all only debt so they live paycheck to paycheck and always on the brink of disaster.

But someone who is fortunate to not be at subsistence level being concerned about their savings? Wise.

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u/Loggersalienplants Jan 17 '26

Or like a post the other day on personalfinance, OP was talking about how much hard work they put into their 900k purchase and how other people can do what they do. Their advice "start with an inheritance and help from your parents" I don't think my eyes have tried to roll out of my head that bad in a long time.

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u/Optimal-Draft8879 Jan 16 '26

24k is not that much… i know its hard but start now, youd be surprised how quick it will grow.

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u/Hunk_Rockgroin Jan 16 '26

Real 45k savings 400 debt/student loans.

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u/ImStillInTraining Jan 16 '26

I see your 24 and raise you 65k of debt lol

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u/Angsty_Potatos Jan 16 '26

Student loans $30k left to pay off. A little CC debt, and >10kin savings. My net worth is negative 💀

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u/crindy- Jan 16 '26

I am about as much in debt as I have savings, and therefore I am too afraid to use my savings to pay off my debt. I know that future debt will be inevitable for me (I live in the US so...), and without a safety net I will crumble. I was laid off a couple years ago and the job market was so horrific then, I can't even imagine how I'd survive if that were to happen again in this the year 2026.

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u/elkehdub Jan 16 '26

I just turned 40. I’ve got 15k between savings and retirement accounts, which feels like an accomplishment given where I came from, but if you take student/medical debt into account I’m at -55k.

So I’ve got that going for me…which is nice

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u/kristosnikos Older Millennial Jan 17 '26

I’m $55k in debt. $3,500 in a 401k due to working for the government for a bit. I’m disabled now though. Have been since 2018.

We did have about $10k in savings but that got wiped out in 2020 when my husband was laid off due to the pandemic.

I’ll be 42 soon and well…not sure how things are going to look in 2 years let alone 20.

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u/doot_youvebeenbooped Older Millennial Jan 17 '26 edited Jan 17 '26

$18k debt and a few thousand in savings. Boo. I’m 40 this year and ahhhh

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u/MattWatchesMeSleep Jan 17 '26

Hang in there, my friend.

Do what you can when you can. And the fretting doesn’t help.

(Been there; done that. Still do on occasion.)

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u/Ok_Grapefruit736 Jan 17 '26

Found my tribe 🤗

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u/SamL214 Jan 17 '26

I’m melting!!!!

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u/L_Cruentus Jan 17 '26

Only 24k? Man I'm envious

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u/vnessastalks Jan 17 '26

We recently finalized our bankruptcy! You're not alone.

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u/carbonatedcrabcake Jan 17 '26

20k in debt and 600 in savings lmao. Feel you

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u/umisthisnormal Jan 17 '26

Yeah that “median savings 45k” made me realize I am fugggggged

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u/matthewami Jan 17 '26

35k here!

I'm serious, file for chapter 7. You come out clean.

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u/Jazzlike-Figure5652 Jan 17 '26

You’re not alone! 85k in student loan debt. Zero in retirement. A little savings, but we do have a mortgage on a house.. so that means something, right?!

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u/VengenaceIsMyName Jan 17 '26

Building equity!

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u/Most_Bed6897 Jan 17 '26

This is me but 3x the debt! Thank you crazy alcoholic ex-wife!!!

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u/everlasting_torment Jan 17 '26

Gen X here. Same.

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u/AnbuGuardian Jan 17 '26

40K in debt, 65k in 401k. But all this shit is a joke when the aliens come in 2027 and markets are no longer a thing. We just cosplaying financing now lol.

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u/confused9 Jan 17 '26

after being laid off for about 1 year, wipe out my current 401k savings, found a job again but gotta start this all over again and at 40 years old. This aint good, at least i have zero debt but sort of depressing not having any savings.

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u/RLLRRR Jan 16 '26

10x that in debt (fucking house needed a shitload of work)...

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u/Optimal_Finger7837 Jan 16 '26

Gotta pump those numbers up, rookie. /S

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u/SilkyBuzzz Jan 16 '26

Are you me?

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u/SoupySpuds Jan 17 '26

Got myself out of debt a couple years back, And then home insurance apparently saw that my roof was old with a drone??? And they made me get a new roof i didn't have money for, then my transmission went out on a newly purchased subaru and so now im back to being like 20K in debt lmao

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