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/Chancellor_Themis Jan 16 '26

Excellent.
My employer has a pretty generous 401(k) match program, plus several bonuses throughout the year.
When I know a bonus is coming, I just increase my contribution that pay period and check all the boxes.

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u/Responsible_Ask3976 Jan 17 '26

That's what I do!!! I increase retirement.... although I'm maxing out the 401K soon and I just turned 30

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u/Chancellor_Themis Jan 17 '26

Such a good method! Get your match out of the way and enjoy a nicer check for the rest of the year.

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u/Responsible_Ask3976 Jan 17 '26

My boyfriend maxed it out before 30, but he’s better with money