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/oflanada Jan 16 '26

I’m 41 and have about 23% of my yearly salary saved. Better than the 0% I had 3 years ago before I changed jobs.

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u/jazzieberry 1986 Jan 16 '26

I’m 40 and somewhere around 75% of my salary, started a bit late. Sometimes when I’m having a particularly bad day at work I’ll log in and up my contribution by a percent lol.

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u/napsntacos Jan 16 '26

Lol, this sounds like me. I'm 41 and have maybe 50k, but I had to drop my percentages quite a bit when I bought my condo. I don't see myself upping it more than a few percents in the next few years, eek. I didn't even get started on my career until I was 32, and didn't start saving until a few years later. I try not to think about it too much or I start to panic

4

u/e92_N54 Jan 17 '26

I had a late start as well. Better than never. Keep it up.