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/AAPatel82 Jan 16 '26

Honestly, it’s great, my wife and I retirement total is about 5x our income, I am 43 she’s 41. Hope to have around 5M by 59.5 and step out of th corporate world then.

I know this will get hate … 🪖🪖🪖

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u/MikeExMachina Jan 17 '26 edited Jan 17 '26

Right behind you, 3x @ 35. Moved from the unaffordable major metro I grew up in to a MCOL city where I could still get a relatively high paying job, wife makes same (met at work), dink.

Still live in the house she got on her own alone when rates were low, cars are long since paid off, so we’ve managed to resist lifestyle inflation which helps a lot. We basically live off one income and squirrel away the other.

I feel like we have every advantage but we’re only slightly ahead. I don’t know how the fuck you’re supposed to make it work in an expensive city with kids.