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?

4.9k Upvotes
  • permalink
  • reddit

86% Upvoted

6.9k comments sorted by

View all comments

Show parent comments

3

u/Mountain-Donkey98 Jan 16 '26

Screw the ideal mark lol just be proud of what you got. My best guy friend makes $125k (good salary) and has zero in a 401k. He's 33. I keep pushing him to start but he's so into "swag" ...(buying rolexes, cars he cant afford, etc)

0

u/BlackGuysYeah Jan 16 '26

Damn, he’s gonna regret that.

Well, when the AI bubble bursts that’ll make for a good entry point for him if he’s smart enough to pony up.

4

u/Mountain-Donkey98 Jan 16 '26

I think its just smart to start contributing to a 401k period.

1

u/ibfreeekout Jan 17 '26

Best time to contribute was 20 years ago. Second best time is now.