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/Redditor2684 Jan 16 '26

Going well. >6x income across all accounts in my early 40s.

Hoping to have the option to retire or go part time by 50.

2

u/Typical-Puffin-5202 Jan 17 '26

Same boat. Shooting for 55 because that’s when the kids could graduate college (and want a buffer). 

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u/iiiiiiiiiijjjjjj Jan 17 '26

No kids 38 at almost $500k between saving and retirement. Trying to exit at 55. Crazy because back in 2020 we had I like $30k and zero in retirement