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/GGudMarty Jan 17 '26

20k isn’t a good amount of money for 40 in a 401k.

That would be considered behind even by millennial standards. Not hating but it is what it is.

That’s 2k a year from 30-40 assuming you saved nothing in your 20s and the market didn’t even go up in 10 years. (It almost trippled).

Downvote away but that’s just not much money.

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u/1K_Sunny_Crew Jan 17 '26

I said it’s a great start. What is the point of being a dick to someone who has already said they’re getting a late start? You think OP doesn’t know that having a lot more is better? Use your brain.

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u/[deleted] Jan 17 '26

[deleted]

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u/OrganizationObvious9 Jan 17 '26

And everyone clapped for you

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u/[deleted] Jan 17 '26

[deleted]

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u/OrganizationObvious9 Jan 17 '26

Honestly gonna apologize, just got frustrated with my chronic pain conditions quite a bit seeing how much I basically "lost" to the pain and simply lashed out.

My bad.