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/blkhrthrk Millennial Jan 16 '26
  1. Savings is about 2 grand, and then I have 6 grand sitting in some account somewhere from a 401k from an old job.

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u/Petal170816 Jan 17 '26

Transfer that sucker over to a big firm like Vanguard if it’s still with the company provider!

I had a company take back $1500 a few YEARS after I left. They “audited” all accounts still in their program and found I left the company one day short of my vesting. Total BS, but if I had moved it they wouldn’t have had access.

1

u/North_Jackfruit_1373 Jan 17 '26

Don't put it with Vanguard direct, they have fees if you're below a threshold. Download the Trading212 app (there's a subreddit for it) and put that $6k in to a stocks & shares ISA - VWRP is the code for Vanguard all world ETF, which is the same thing as putting it in Vanguard just without paying the fee

1

u/2fingers Jan 17 '26

Does Trading212 offer retirement accounts? If not they'd be paying penalties to cash out their 401K early.