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Existing methods typically compress visual tokens via visual similarity heuristics, or augment compression with KV-cache-level retrieval. However, compression decisions rarely incorporate semantic signals, and retrieval is often added after compression is finalized, making the two stages hard to coordinate. We present SAVEMem, a training-free dual-stage framework that brings semantic awareness into memory generation and lets the retrieval scope adapt per query. In Stage~1, SAVEMem builds a three-tier streaming memory online under a constant memory budget. 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We present SAVEMem, a training-free dual-stage framework that brings semantic awareness into memory generation and lets the retrieval scope adapt per query. In Stage~1, SAVEMem builds a three-tier streaming memory online under a constant memory budget. 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