What is Retirement? What is the Middle-Class?
“If you expect to live a middle-class lifestyle in retirement, it starts with having the right working definition of retirement: ‘decades of self-financed leisure.’ -Jason R. Escamilla, founder and CIO of ImpactAdvisor LLC in San Francisco, California
“key point: “ self-financed, by and large, through pension plans (automatic savings) or a self-initiated discipline of saving and investing.”
“Middle-class baby boomers benefited from growth in the economy that left their share of pension plans, home equity, investment accounts, and even Social Security well stocked for their withdrawal years.”
The proper definition for a member of the middle-class needs to incorporate saving like a member of the middle-class. Having the latest iPhone Pro only makes you look like someone in the middle-class.”