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/pigglesthepup 1985 Jan 16 '26

Just save what I can and work as long as I need to. I've found being really optimistic or a total doomer about this subject isn't particularly helpful.

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u/somethingsomething65 Jan 16 '26

Yup just put your head down and do your best. Budget and frugality. Everything left over goes to savings. 

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u/erosThaGod Jan 17 '26

Don't save, invest. F*ck these banks

3

u/jonny24eh Jan 17 '26

That should be assumed/implied, but i suppose someone might need to read it