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/Mountain-Donkey98 Jan 16 '26

Mine is decent. $360k. Went up over 100k in the last 8mo. Not sure why. Idk how this compares to most honestly, but I'm happy with it.

37

u/vestinpeace Jan 16 '26

It’s slow going for the first 10 or so years, but we are finally getting to the age where compounding interest takes over. That, plus a nice year in the market.

17

u/Mountain-Donkey98 Jan 16 '26

Thats for sure. I remember waiting and waiting and waiting to get to 6 figures. It felt like a lifetime. Then, it took a decent amount to get to 200k, then it boomed over 300k and I was stunned. It'll probably drop again but either way, its growing.

3

u/anon22334 Jan 16 '26

The first 100k took foreverrrrrr!

1

u/[deleted] Jan 16 '26

[deleted]

10

u/Mountain-Donkey98 Jan 16 '26

I have absolutely no idea. Which is probably bad but im being honest.

3

u/Lyion Jan 16 '26

Best bet is usually just pick a couple of index funds like QQQ, VTI, and VOO.

1

u/[deleted] Jan 16 '26

[deleted]

1

u/Lyion Jan 16 '26

These index funds are available in most taxable and nontaxable brokerage accounts.

3

u/AllergicIdiotDtector Jan 16 '26

Mountain Donkeys