According to Bogle's numbers, the median IRA has $55,000 in it. By his calculations, that's enough to provide a steady income of $2,200 a year -- less than $200 a month. That's it.
The typical 401k holds only $15,000. Bogle argues that to reach the level of income they hope for in retirement, Americans need to put 15% of their earnings in retirement accounts for their entire working lives. Very few do.