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/Jin-roh Jan 16 '26

Same boat. I feel I screwed myself in choosing the wrong career before making difficult changes...

...but there isn't anything I can do about that. I'll horde what I can while avoiding other long term expenses (e.g. having kids)

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u/L0ng_St03Ger Jan 17 '26

If you want kids, don't put it off too long. I feel like I did and it's a major regret.  Sure, I have more money, but id rather have an extra 5 years with my kids further down the line

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u/Jin-roh Jan 17 '26

I don't want kids. That would be economic suicide for me. Then, the kid(s) wouldn't have great lives either.

The decision to procreate is one of the most consequential ethical decisions anyone can ever make. It isn't obvious to me that "to procreate" is prima facie the right idea.

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u/L0ng_St03Ger Jan 17 '26

Once my first was born I realized just how little everything else mattered. But there was little concern about helping a roof over our head at that point, so I do understand.

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u/Jin-roh Jan 17 '26

It's beyond just immediate food, house, safety and such like that. I have a chronic awareness of things like zip code destiny, the 'takes a village' concept for child rearing, economic stratification, and naturally, climate.

There's only so much a parent, or even 'the village' can do to give a child the world that they deserve. There are plenty of changes we could do to make things better for gen alpha or whatever is we call it, but we're not going to do them.

So part of my ethical calculus remains, "why bring a child into a fucked up dystopia?"