Curious About Financial Independence? Here’s the Average Investment Portfolio for Millenni
January 19, 2026
Key Takeaways
- Millennials have an average 401(k) balance of about $67,300.
- Many millennials save around 8.7% of their pay into 401(k)s, while experts suggest saving 12%–15% of their pay, including the employer match.
Anyone claiming millennials are bad with money hasn’t seen the data. The average millennial is saving about 13% of their income for retirement—close to what experts recommend—and holding a 401(k) balance of $67,300.
Here’s what that portfolio actually looks like, and how to measure yours against it.
What Millennial Portfolios Look Like Now
Millennials have an average 401(k) balance of $67,300, but a much lower median of around $35,000. The gap means a small group with big accounts skews the average, while many others are still building up their savings.
Millennials, now ages 29 to 44, contribute about 8.7% of their salary on average, plus about 4.6% from employers, for a total savings rate around 13.3%, according to Fidelity. That is close to what many firms recommend but still below financial independence, retire early (FIRE)-style targets.
Millennials are reshaping portfolios by adding alternatives like crypto and collectibles. Many still hold a fair amount of cash as an emergency buffer or for near-term goals, like buying a home.
Important
A Goldman Sachs survey found high-net-worth millennials hold only about 27% of their assets in public stocks, but around 20% in alternatives, far more than older investors.
How Experts Suggest Building a Millennial Portfolio
Experts suggest a simple, diversified mix for millennials, not a complex trading strategy. When retirement is decades away, 80%–90% in a broad index fund, and 10%–20% in bonds and cash is a frequent strategy to grow and smooth market volatility.
Brandon Galici, a certified financial planner, told Investopedia that a healthy portfolio should be diversified, have a suitable stock-bond mix for your age, and result from a consistent savings habit, even in challenging markets.
Vanguard and Fidelity peg the target at 12%–15% of income, employer match included. Hit that consistently, and you’re on track to replace much of your pre-retirement income.
Tip
If 15% feels impossible now, try raising your contribution by 1% every six months or after each raise. Small steps are easier to stick with.
You control your savings rate. You don’t control returns. Galici suggested investing 15%–20% of your income is typically more powerful than chasing larger returns. He also noted that starting early and capturing your full 401(k) match can more than double your long‑term balance, especially over 30 years.
The real power comes from time and discipline. Saving even 10%–15% and staying invested through different markets can grow into a large balance over a few decades. Many millennials are on their way, even if the numbers do not feel impressive yet.
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The Bottom Line
The average millennial portfolio today includes a 401(k) balance averaging $67,000, a total savings rate near 12%–13%, and a mix that is heavy in stocks and growing in alternatives. Those numbers may not match expert “ideal” targets or FIRE dreams, but they show steady progress.
Use this data as a starting point, not a scorecard. Check your savings rate, your split between stocks, bonds, cash, and alternatives, and your goals for work and retirement. Then choose one or two simple moves—like automating contributions, shifting more into low-cost index funds, or trimming high-interest debt—that move you closer to the freedom you want over time.
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