Reply to Middle-class, reasonable, not extravagant retirement plans

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[quote=Anonymous]People in this position should prioritize retirement savings to provide for whatever they consider to be a secure and sufficient retirement.  That may mean children need to pay their own way through college, or not.  Some middle class parents have the financial discipline and acumen to save sufficiently for both their own retirements  and for some or all college expenses for their kids.  With respect to that, having fewer children reduces higher education expenses, as does guiding children towards in-state public universities.

In addition to a lifestyle which enables robust pre-retirement savings even on a middle-class income, it is necessary to plan for controlled retirement expenses.  That may mean lifestyle adjustments and/or relocation.

Funding retirement for middle class people is no different than it is for those with more or less money - expenses just have to be less than income, whether that income is derived from investments, savings, pensions, social security, annuities, deferred compensation, or part-time employment.   If income is insufficient, reduce expenses or increase income.  No magic there.

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