and 13.9 million people are still out of work. we just can t seem to catch a break. don pack is features editor for the atlantic and wrote can the middle class be saved? don, what s the answer, can it? the middle class can be saved but we need to take a wide array of aggressive action to save it, i think. it s interesting the middle class itself has in many ways been downgraded in this recession. the housing bubble amassed a host of problems. the middle class has been slowly hallowing for years, wages in the middle class were stagnant throughout the odds. but the middle class retained a sense of optimism and forward progress because of increase in housing wealth and the increasing debt that went with it. but the recession has blown away that fig leaf. and one reason i think that this period has seemed so painful to so many people is in some ways we ve seen the concentration of a decades disappointment in just the past three years. yeah. when you look at the look bot
a very long time. the other thing, kind of serve as an extra emergency fund, if you really need it. you can access the contributions tax and penalty-free any time, but put that money in, you can put $5,000 in for 2010. in 2009 deadline just passed, but for 2010, $5,000 or $6,000 if you re 50 or older. i have to ask you about this, too. some parents are, hmm i could help my kids pay for college. is that a good way to do it? this is a great way. it s so hard to juggle all of those different priorities that you have. whether it s saving for retirement, paying your own bills and saving for your kids college. save more retirement first. there s no scholarship for that. this is a great way to put extra money away for your kids college. we recommend a 529 plan, they can use the money tax-free for college costs, and in many states you ll get a state income tax deduction for that.