Planning for Retirement

Part of yielding wealth is having a financial plan. Creating a financial plan should also include retirement planning. In fact, this is one of the most important parts.
The three-legged stool
Retirement funding is often referred to as the three-legged stool. The three legs are as follows:

The government, which helps out through Social Security
Company pension plans, which are becoming scarce
Your own personal financial health and savings

As you can see, two of the three legs listed above are becoming rapidly shorter. Although company pension plans are being widely replaced by such things as IRAs and 401(k)s. This just means that the stool is …read more