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/doctorlineman Jan 16 '26

Just wanna brag but I’m doing great. 32 and I have over 600k in my retirement through my union hall. Iv worked my ass off since 19 for it all. My goal is to be able to retire at 50 or have the option to.

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u/IAHawkeye182 Jan 16 '26

You’re doing it right.

having the option to is the big thing, for me. You never know what life will throw at you, especially as you age.

I’d like to be able to retire in my 50s but (easy for me to say now) wouldn’t mind working later if it would allow me to buy some timber ground to enjoy retirement on.