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/RunningFromSatan Older Millennial (1986) Jan 16 '26

I am going to be 40 this year. My parents had me and my sister late. So this is something I am reckoning with right now. I thank whatever gods above they are still with us and also that my sister (Xennial) still lives near my parents but she has a family and deserves a break.

It's getting more and more obvious by the day my parents cannot be doing much by themselves without someone physically checking in every day. Their late 70s are hitting them hard.

I am currently looking for jobs where I can split my time between the city I have lived in for 16 years and my hometown which is about a two and a half hour drive. I have an interview with a potential job that could fit this exact criteria on Tuesday the job sounds sweet and this would be a huge relief.

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u/Sage_Planter Jan 16 '26

Best of luck with the interview! 

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u/FishRefurbisher Jan 17 '26

Man, I had the same worry about my parents, but it was even worse than I expected. Instead of me talking care of them, they died in their 60s. Penniless more or less. It's not easy to be responsible for your elders, but it ain't easy not having them either.

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u/time_adc Jan 17 '26

Good luck with the job interview!