When I was in the best shape of my life from my mid 20s to my mid 30s, working out 12 hours a week (part time fitness instructor and a runner) with a body fat of 12% (measured with calipers) and a 29-30 inch waist, I was according to the BMI calculations 30 pounds overweight. Even now weighing 10 pounds more and I'm considered "obese", I wear a size 30 regular cut pants.
Where exactly am I suppose to lose 40 pounds from? Realistically, I need to lose about 15.