In her impressive seven-decade career, she has held over 200 jobs, from nursing and farming to running for president.
But at 64, Barbie is at the median age for most Americans to start retiring from their 401(K)s. And with so many pots to consolidate, it’s no small feat.
Experts estimate the unmarried, childless doll should save about $3.5 million — assuming she’s made the highest possible contributions since the pension system began in 1978.
The number also says it’s made the most of catch-up contributions, which allow workers over the age of 50 to add up to $7,500 to their 401(K)s each year.
As Barbie mania takes over thanks to Margot Robbie’s $85 million blockbuster, takes a look back at Barbie’s illustrious career – and how it’s earned her such a large retirement fortune.
Barbie took the stage in 1959 and is now 64 years old – the age at which most Americans begin to retire to their 401(K)s
Experts estimate the unmarried, childless doll should save about $3.5 million – assuming she makes the largest possible contributions since the pension system was introduced in 1978. Pictured: a 1960s Nurse Barbie versus a 2010s Robotics Engineer Barbie
Career Highlights
Barbie was born in 1959 wearing only a black and white bathing suit. At that time she was considered a “teenage model”.
Just three years earlier, in 1956, American beauty Suzy Parker became the first model to make $100,000 a year — which is about $1 million today. It’s safe to assume Barbie at her best would rake in a similar amount.
In the 1960s she made a career as a fashion designer, flight attendant and later as a nurse. According to the Federal Reserve of St. Louis, a registered nurse earned just $2.88 an hour in 1965.
Moving into the 1970s, Barbie switched careers again, becoming a surgeon and even returning to her modeling origins. However, perhaps her most famous career of that decade was as a figure skater who won the Olympic gold medal.
It was likely inspired by US figure skater Janet Lynn, who took home the bronze model at the 1972 Olympics. A year later, Lynn signed a three-year deal worth $1.46 million — or about $400,000 a year.
A decade later, a “Rockstar” Barbie appeared—complete with an electric guitar. She was inspired by artists like Madonna and Cyndi Lauper. Today, these two stars have net worths of $850 million and $50 million, respectively.
In the 1990s, she became “CEO”—at the same time, America’s CEOs made an average of $2.2 million.
As the noughties rolled around, Barbie embarked on a new adventure, slipping into the role of a TV chef inspired by the likes of Rachel Ray and Martha Stewart. In 2008, Ray was making $18 million a year, according to Forbes.
Barbie then became a robotic engineer and scientist in the 2010s and 2020s. Today, these jobs can earn anywhere from $94,000 to $96,000 a year, according to figures from Indeed.
An Olympic figure skating Barbie was born in the 1970s (left), followed by a ‘rock star’ Barbie from the ’80s, right
What’s in Barbie’s 401(K)?
When Barbie was born in 1959, the 401(K) didn’t exist. In fact, Americans saved very little for retirement in their first few years in the workforce.
According to financial planning website Due, only about 25 percent of private workers — or 10 million — were paying a pension in the 1950s.
But certified financial planner Andrew Latham, who serves as content director at Super Money, reckons Barbie will be catching up quickly.
He told , “We can safely assume that she has made the maximum allowable 401(k) contributions since the program began in 1978 and benefited from catch-up contributions when she reached 50.”
“Barbie is a financial superstar and has invested her 401(k) in a diversified portfolio that has produced an average annual return of 7 percent.”
“Now at 64 and still as fabulous as ever, her 401(k) balance is approximately $3.5 million.”
Americans are bound by a maximum amount they can put into their 401(K)s, but this varies by year.
In the noughties, she became a TV chef, inspired by the likes of Martha Stewart and Rachel Ray. By 2008, Ray was making $18 million a year
For example, in 2023, workers can put $22,500 a year into their retirement plans. This is an increase from $20,500 in 2022.
However, when the system was first introduced in 1978, workers were entitled to a savings of up to $45,475.
But employees over 50 are also entitled to “catch-up contributions”. These can be as much as $7,500 per year – up to a total cap of $30,000.
Starting next year, those rules are changing, meaning “catch-up contributions” must be paid into a Roth IRA rather than a standard 401(K).
What should she do now?
With so many different 401(K) pots, Barbie faces an uphill battle trying to consolidate them all.
Rita Assaf, vice president of retirement products at Fidelity Investments, said, “When you leave an employer, you have several options for your old 401(k): keep it with your old employer, transfer the money to an IRA, transfer it to a new employer’s plan, or cash it out.”
“Depending on what Barbie has done after leaving each of her 200 jobs, she may have assets in 401(k)s from different employers, as well as a few rollover IRAs.”
Assaf recommends she consult a financial planner to find out exactly how to take control of her nest egg.
There are also a number of tax pitfalls she needs to be aware of. These include required minimum distributions (RMDs), which dictate how much a saver must withdraw each year once they reach 73 years of age.
“She should think about how this will affect her total income and taxes at this point, and consult a tax professional to understand how these distributions could affect her tax bracket,” Assaf said.
Additionally, Barbie now faces a decision about whether to start claiming Social Security.
A “scientist” in 2022, Barbie (left), could expect to make about $94,000 a year, while a “CEO” Barbie was born in the 1990s, right – when American CEOs were making $2.2 million a year
Barbie mania swept the US this summer thanks to the blockbuster film starring Margot Robbie (pictured).
Americans can begin claiming Social Security between the ages of 62 and 70. However, the longer they delay this decision, the more they benefit.
That’s because the Internal Revenue Service (IRS) gives retirees additional “later retirement credits” for any money they file late.
Much of that decision also depends on a person’s “full retirement age,” which is determined by the year of their birth.
People born between the ages of 1959 – like Barbie – have a “full retirement age” of between 66 and 10 months. This is the age at which they are entitled to maximum social security contributions.
You can request payment in advance, but this will result in a deduction. For example, someone born in 1960 who receives welfare for the first time is only eligible for 70 percent of it. This rises to 75 percent by age 63, 80 percent by age 64, and 86.67 percent by age 65. Only at the age of 67 do they receive full performance.
But for every year they delay claiming the benefit, they increase its value. For example, if someone born in 1960 waits until age 70 to qualify for Social Security, they will receive 124 percent of the standard payment. In 2023, the average output is $15,189 per year.
Financial planner Marissa Reale said, “Barbie doesn’t need the money, she shouldn’t claim Social Security until she’s 70 to get the full benefit.”