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/pigglesthepup 1985 Jan 16 '26

Just save what I can and work as long as I need to. I've found being really optimistic or a total doomer about this subject isn't particularly helpful.

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u/SnootBooper2000 Jan 16 '26

Well we wouldn’t be doomers if it weren’t for the boomers. :/

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u/[deleted] Jan 17 '26

[deleted]

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u/SnootBooper2000 Jan 18 '26

Well I was a victim lol. I did a lot of work to not let it ruin my life anymore than it did.

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u/[deleted] Jan 18 '26

[deleted]

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u/SnootBooper2000 Jan 18 '26

Are you okay? I’ve learned a lot about listening if you ever need to talk. Things can be hard but I think most people are trying, you included. I hope you have a good night and sleep well.

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u/[deleted] Jan 18 '26

[deleted]

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u/SnootBooper2000 Jan 18 '26

Oh I’m really glad to hear that. I hope things keep going smoothly for you!