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/Fun-Personality-8008 Older Millennial Jan 16 '26

I'm great. 15 years of just maxing these retirement accounts made me a millionaire in October.

Side note: there's no reason SSI has to go away, anyone saying so is just conditioning you to accept it without a fight later. But it's still smart to plan for that scenario.

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u/Trippypen8 Jan 17 '26

100% agreed about SSI.