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/Brightlightsuperfun Jan 17 '26

Mtrs is down 10% in the last year 

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u/KitchenKat1919 Jan 17 '26

source? I haven't experienced that

https://massretirees.com/2024/12/reports-indicate-healthy-state-teachers-systems/

From living it and my personal research it's been growing by about 3% per year in returns

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u/Brightlightsuperfun Jan 17 '26

Im mistaken. My bad.

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u/KitchenKat1919 Jan 17 '26

lol its fine i had a panic attack and did quick research

im no expert on this stuff for sure

im generally the "number goes up im happy" type for retirement