A Common Sense Approach For Your Money by Harry N. Stout

Author:Harry N. Stout
Language: eng
Format: epub
Publisher: Nextone Inc
Published: 2019-05-28T00:00:00+00:00

THE THREE-LEGGED STOOL OF SAVINGS FOR THE FULFILLING STAGE

In the FinancialVerse, you need to accumulate savings and income benefits to generate the income you will need in the Fulfilling Stage of your financial life. Remember once you stop working, you will likely be in the Fulfilling Stage for twenty to thirty years. For younger adults, I believe thirty years should be your planning horizon.

These savings and benefits will likely come from three major sources—government programs, private savings, and from employer programs such as 401(k) plans and defined benefit pension plans. Many financial professionals refer to these programs as the three-legged stool of savings for later life. Let’s briefly look at each leg of the stool.

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