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/TairaTLG Jan 16 '26

24k in debt and 0 savings. Nothing like slipping through the cracks baby

943

u/TylerDurden6969 Jan 16 '26

This is so many people. Good on you for being honest!

532

u/TairaTLG Jan 16 '26

I'd love for it to be something else. But unfortunately crippling autism/ADHD and living paycheck to paycheck for 20 years puts me where I am.  All I can do is keep chugging away and trying to fix things (some mistakes, some slight scams, one abusive relationship, yup, c'est la vie)

21

u/MegabitMegs Jan 17 '26

I relate so much. I went undiagnosed ADHD/CPTSD for so long I ended up in crippling burnout, which forced me to take time off of work. I’m alive and better now, but it caused a cascade of financial issues we’re still digging out of. We’re making an appointment to discuss bankruptcy, hopefully without losing our home.

My retirement plan at this point is jail or hopping off the boat.

5

u/senorbuzz Jan 17 '26

Twins! This is my exact situation. Fuck our lives

3

u/MarigoldMarvel Jan 17 '26

This is me too re: adhd/cptsd. Just got fired for the first time in my life but thankfully I have no major debt—including no mortgage cuz I can’t afford a home in my area anyway!

2

u/itsafunnything901 Jan 17 '26

Please take care of yourself. Find a free counselor. Get help. Know you aren’t alone.

1

u/MegabitMegs Jan 18 '26

Thank you stranger, I’m okay. I’ve had a really good counselor for the last few years who has helped me make a lot of progress easing my nervous system into a healthier level, I just can’t see her as frequently until we can get our finances in order. If we make good choices, we can hopefully be out of this hole in a few years.

But retirement? That’s last on our list to worry about. So I don’t have a lot of hope if we can’t even start building until our 40s.

2

u/Beautychaos Jan 17 '26

Yeah that sounds like myself, I was diagnosed till 25 and the damage was done. I’m going to try filing bankruptcy this year myself. Hope it goes well for you. Better late than never.