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But what exactly does a middle-class retirement look like?
And how much do you should probably have saved up or invested to get there?
Also, find outhow much middle-class retirees have in savings.
The exact number, however, depends on you.
The key is ensuring they feel financially secure and able to live the retirement they envision.
It also depends on how much money youve got coming in from Social Security.
You shouldnt need to work part-time or have a side gig to make ends meet.
You also shouldnt have to rely on government assistance Social Security can be a bonus.
What you view as a middle-class lifestyle is also ultimately subjective.
But there aresome general rulesof thumb to get you on the right track.
One is to save 10 to 12 times your annual income before retiring.
But this general rule will only get you so far.
And for Falcon, he believes it doesnt work for everyone.
Retirement is far too ambiguous to rely on paper napkin financial planning, he said.
This is true regardless of class.
You might also have unique expenses, like travel or hobbies that cost money.
Or you might be paying for long-term insurance, a younger relatives education or other costs.
Middle-class retirement isnt all that different than any other class of retirement.
To me, everything starts with a holistic financial plan.
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