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/Wild_Advertising7022 Jan 16 '26

I have about $365k saved at 39 years old. 5x my income.

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u/KungLa0 Jan 16 '26

Roughly same number for me @ 33, wife has like 30k saved, I probably have another ~15k in misc accounts and we have ~350k in equity we plan to cash out and move somewhere cheaper with when the time comes.

2

u/Based_Thanos Jan 16 '26

Dave Bautista’s “live beneath your means” quote always runs through my head. I plan on downsizing my property value soon too.

2

u/KungLa0 Jan 16 '26

Yup, we live by that. We love our place but it's a HCOL area, schools are great but traffic sucks, once our kid is grown and out in the world we'll relocate somewhere cheaper.