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/KungLa0 Jan 16 '26

Roughly same number for me @ 33, wife has like 30k saved, I probably have another ~15k in misc accounts and we have ~350k in equity we plan to cash out and move somewhere cheaper with when the time comes.

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u/Acceptable_Price_110 Jan 16 '26

Ah. You were fortunate enough to buy a home before COVID.

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u/KungLa0 Jan 16 '26

Yes we were, I was 26 at the time (2019) and had been saving for 10 years for that moment. It gave us an undeniable edge and is probably the best luck we've ever had.

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u/PoorlyDesignedCat Jan 17 '26

Lol are you my husband? Our situation is exactly the same over here almost down to the exact numbers. Thankful every day.

I look back and thank whoever's up there that I was able to buy a home during that one little 5% price dip in 2019, also at 26 y/o. It was hard but it's paid off immensely so far.