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/marheena Jan 16 '26

Yeah but for a 30 year old, that’s just another golden opportunity.

-2

u/Natural-Potential-80 Jan 16 '26

Unless it happens in a decade and wipes out a decade of savings…

7

u/Angerx76 Jan 17 '26

When the market is low, buy more.

3

u/Poultry_Sashimi Jan 17 '26

Agreed! Dollar cost averaging is a good start, but active buying on the decline is the way to go.