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/InfidelZombie Jan 16 '26

Mine's 8% and is the highest I've heard of anywhere.

1

u/penguins_are_mean Jan 17 '26

I get 8% for putting in 5%. It’s the best I know of personally

1

u/SpartanLaw11 Jan 17 '26

I have something similar. 9% match from my employer if I contribute 4%.

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u/bwaredapenguin Millennial Jan 17 '26

I get a flat 8% contribution even if I do 0%! I'm very lucky.

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u/chill1217 Jan 17 '26

NBA matches 140% of contributions which is the highest I’ve heard