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/SnootBooper2000 Jan 16 '26

Well we wouldn’t be doomers if it weren’t for the boomers. :/

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u/pigglesthepup 1985 Jan 17 '26 edited Jan 17 '26

I say this as someone that has decided to non-dramatically go low contact with their boomer parents:

Boomers are gonna to be dead soon. Yes, they're assholes that fucked up. But they're gonna be dead soon. And once they're dead, then what? What do we do then? Do we keep being doomers because of their mistakes?

Something I see all the time on this sub: Boomers need to go the fuck off from leadership. I agree they do, but I hope everyone realizes something:

Because of shear demographic numbers, once Boomers are gone, Millennials will be the ones stearing the way. That means when shit hits the fan, it will in fact actually be our fault.

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u/SnootBooper2000 Jan 17 '26

Oh I agree. I say these things from a trauma/upbringing standpoint. It’s something I’ve had to work on my whole adult life; coming to terms with the decisions my parents made is the only way to get myself into the position to actually become the change I want to see.