The quote of the day comes from Harvard economics professor Mankiw:
exceeding $3 million in such accounts is not very difficult for an individual who is financially successful and frugal. Under current law, a self-employed person can put about $50,000 a year in a SEP-IRA. If he does that every year for 40 years, and his savings earn a return of 5 percent per year, he will retire with about $6 million.
Do you know any 25-year-olds who are self-employed and putting $50K/year into their IRA's?
Okay, that was too hard: do you know any 25-year-olds who are earning $50K a year? There are some, not many.
Heck, it's hard to even find any 25-year-olds who are employed.
Other than the ones that graduated from Harvard, that is.