Are you on the "40,40,40 Plan"?

Here are some of the results of the 40,40,40 Plan or the result of its mentality at least.


The "Baby Boomer" generation are those 45 and 62 years of age (as of 2008). This generation has saved on the average retirement savings of $38,000, excluding pensions, homes, and social security. However, "Baby Boomers" with qualified retirement plans has an average retirement savings of $88,000. The $88,000 of average retirement savings will generate an annual retirement income of about $5,000 yearly. Not many people would be satisfied with this level of retirement income. To get an exact amount, based on your age and retirement savings, you can use the retirement income calculator. But there is ample evidence that these retirement plan accounts are mismanaged with approximately half invested in under-earning money market funds rather than long term growth investments. It's clear not many baby boomers will retire rich.