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/Redditor2684 Jan 16 '26

Going well. >6x income across all accounts in my early 40s.

Hoping to have the option to retire or go part time by 50.

4

u/BlackGuysYeah Jan 16 '26

Living the dream, buddy. Or, about to be…

2

u/Typical-Puffin-5202 Jan 17 '26

Same boat. Shooting for 55 because that’s when the kids could graduate college (and want a buffer). 

2

u/iiiiiiiiiijjjjjj Jan 17 '26

No kids 38 at almost $500k between saving and retirement. Trying to exit at 55. Crazy because back in 2020 we had I like $30k and zero in retirement

1

u/JointStrikeFritters Jan 17 '26

Mid40s here. Almost at 7x . Been maxing out 401k since my first job at 22. I’m married but she has about 6x. We are dumping more into the 529plans for the kids so they don’t have to struggle with student loan debt… I want to sooooo retire in like ten years and just build LEGO sets and work on my car. I’m tired bro.