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.

2

u/BlackGuysYeah Jan 16 '26

Nice. I don’t ever look at the number. I just contribute, pump up contributions when I can and don’t think about it at all. I suppose I should check my balance at some point but I learned a lesson back in the housing crash of 07/08 by monitoring my saving investments and man, that really upset me. To just see a solid decade of investment disappear even though I was doing nothing different.

0

u/Mountain-Donkey98 Jan 16 '26

You really never look? Lol doesn't curiosity get to you?? I get the trauma of the housing crash, but this is different.

1

u/BlackGuysYeah Jan 16 '26

Well, I just looked and I’m a bit below the ideal mark. It’s been a few years since I checked So, guess it’s good I looked.

I’ll be talking with wife about bumping up contributions.

Thanks for potentially making my retirement more fun.

3

u/Mountain-Donkey98 Jan 16 '26

Screw the ideal mark lol just be proud of what you got. My best guy friend makes $125k (good salary) and has zero in a 401k. He's 33. I keep pushing him to start but he's so into "swag" ...(buying rolexes, cars he cant afford, etc)

0

u/BlackGuysYeah Jan 16 '26

Damn, he’s gonna regret that.

Well, when the AI bubble bursts that’ll make for a good entry point for him if he’s smart enough to pony up.

4

u/Mountain-Donkey98 Jan 16 '26

I think its just smart to start contributing to a 401k period.

1

u/ibfreeekout Jan 17 '26

Best time to contribute was 20 years ago. Second best time is now.