The three-legged stool - Barron's
The newest data from Allianz finds that 22 percent of Americans currently working hope to retire in 2024. Unfortunately, these soon-to-be retirees will discover the much talked about “three-legged stool” no longer applies to most people. What is a “three-legged stool?” It is a phrase that many financial planners once used to describe the three most common sources of retirement income: Social Security, employee pensions, and personal savings. However, times have changed, and so has the three-legged stool. Jason J. Fichtner comments on how American retirement thinking is stuck in the past and proposes changes to fix it. Read Mr. Fichtner’s article here…
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