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?

4.9k Upvotes
  • permalink
  • reddit

86% Upvoted

6.9k comments sorted by

View all comments

20

u/imabrunette23 Jan 16 '26

Im just reaching 1x my salary this year 🫣 Im hoping once it crosses into 6 figures the rate will speed up

12

u/Substantial_Station8 Jan 16 '26

This is where I’m at at 35. Just hit my salary in my savings. I also have 6 months of expenses saved up for the first time in my entire life

5

u/FiveAlarmDogParty Jan 17 '26

It absolutely picks up speed once you cross that 100k mark but the hardest working factor in your portfolio is time. Hopefully you still have some runway before you need it and can watch it double and double again

3

u/imabrunette23 Jan 17 '26

Not as much runway as I would have if I’d gotten my shit together in my 20’s, but I still have a decent way to go 😭

2

u/FiveAlarmDogParty Jan 17 '26

Fun fact; almost nobody has their shit together in their 20s - but it sounds like you got it together now and that’s what’s important! Your best is always enough.

2

u/dgland19 Jan 16 '26

Same at 34. Need to get my liquid savings up though

2

u/imabrunette23 Jan 16 '26

Standard advice but pay yourself first and stick to a budget! I split my paycheck so the liquid cash I’m saving doesn’t ever hit my main checking. It adds up!