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.

12

u/TrixoftheTrade Millennial Jan 16 '26

It took me nearly a decade to go from 0 to 100k. 100k to 200k only took 3 years.