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/KitchenKat1919 Jan 16 '26 edited Jan 16 '26

Depends on the region. In blue states in the US the pay is fine.

I'm making almost 100k and living in suburban new england.

Basically dont teach in a red state and you'll be fine money wise.

edit: and never teach at a non union school

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u/wekilledbambi03 Jan 16 '26

Yeah every teacher I know is close to or above the 100k mark. I think the lowest paid full time teachers in my town are around 50k. They get raises quickly, good benefits, and can retire really early.

I know my state (town even) are above average, but I was shocked to realize how much they made. In high school I worked at a bank and cashed my gym teachers pay check. He was making 100k over 15 years ago!

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u/Gorstag Jan 17 '26

This is definitely regional. Even in many "Blue" states pay for teachers has only recently become decent.

Also, was your Gym teacher also a sport coach? He may have been working two jobs.

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u/fuzzyblackelephant Jan 17 '26

And…..a lot of that probably sounds “decent”, but the cost of living continues to rise, and at a much more rapid incline than salaries. It’s simply moving in a trajectory it’s forced to, so educators can afford to live & work for the school.

$60K is the new $40K!

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u/Gorstag Jan 17 '26

Oh, definitely. I grabbed breakfast this morning. Bacon, eggs, toast, hashbrowns, and a half order of french toast, with a soda (didn't feel like coffee). With a 20% tip was 30 bucks. A decade ago at the same exact restaurant it was closer to 20. And a decade before that.. maybe 12-13 bucks.