<p>I note that the article </p>
<p><a href=“http://www.nytimes.com/2007/01/27/business/27money.htm[/url]”>http://www.nytimes.com/2007/01/27/business/27money.htm</a> </p>
<p>says many parents could afford to save less for retirement, and then spend what they don’t stash away for the future on education. Maybe EFC formulas take that into account. What do you think?</p>
<p>If we save it somehow the feds will think of a way to take it away from us. </p>
<p>There is such a BIG gap between middle class and rich.
Retirement is always the great unknown. Who knows how long we we live, how long we will want to stay in our homes, how long we can live without assistance, etc. And it’s about the standard of living you may want to lead or maintain. I know my hus. shudders to think we should be living on a restricted retirement income for a few years before retirement. He has visions of a Grand Tour in retirement. Perhaps.
Still the great unknown for us. But one thing for sure, I’m working on the kids already to have them save for the Great Unknown, too.</p>
<p>What’s the start of middle class? Those that have health insurance? Those that are not worried during a year about having something to eat?</p>
<p>What’s the end of middle class? No financial worries, now or ever?</p>
<p>Thanks for the interesting replies. My idea of “middle class” is never having, on the one hand, to worry about where the next meal will come from, but still having, on the other hand, to say “We can’t afford that” to the kids fairly often. Because there is a lot of elasticity in what kids desire and what kids see the neighbor kids enjoying, the definition of “middle class” in the United States is quite broad. Most families self-designate that they are members of the middle class, and I think that they are mostly right.</p>