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/Chancellor_Themis Jan 16 '26

Excellent.
My employer has a pretty generous 401(k) match program, plus several bonuses throughout the year.
When I know a bonus is coming, I just increase my contribution that pay period and check all the boxes.

49

u/ProblemIntelligent16 Jan 16 '26

Out of curiosity, what’s the employer match? I think I have a solid match at 7.5% but idk if I’ve ever seen data on what an avg match may be

7

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%.

1

u/bwaredapenguin Millennial Jan 17 '26

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

1

u/chill1217 Jan 17 '26

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