The more “middle-class millionaires” we create, the greater the demand for personalized money managers. (Photo: Getty)

I had a chance to interview Jack Towarnicky this week (see “Exclusive Interview with Jack Towarnicky: Child IRAs will make ‘Middle Class Millionaires’,”, August 16, 2016). Jack is full of great ideas and enthusiasm. (Read the article and see what he says is at once the “most important concept” and “most misused/misunderstood aspect” of behavioral finance when it comes to 401(k) plans.) One phrase that he used really stuck in my head. Towarnicky referenced what he termed “middle-class millionaires.” That got me thinking.

Related: Would you make this sacrifice to help your child retire a multi-millionaire?

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