The “three-legged stool” was used for years as a financial term to describe a stable retirement.
Do you know why a three-legged stool is so sturdy?
Here’s a quick mathematical explanation: if you hold a cane in your hand, you can move it any way you want. It has no constraints and can move in all 3 dimensions.
If you put one end on the ground, you can move the cane around in a variety of ways, but only in 2 dimensions. The bottom of the cane is rooted to the ground.
If you connect the tops of two canes together and put the ends on the ground, they can only move along one straight arc, back and forth. They have one single dimension of movement.
Finally, if you attach the third cane, the tops don’t move at all – they move in zero dimensions. This is what happens with a three-legged stool.
The three legs of a stable retirement used to be:
- Social Security
- Employee pensions
- Savings
Today, the only leg you can totally rely on is your personal savings.
That one leg must support you through retirement to ensure that you live the kind of retirement you want… and deserve.
Now is always the best time to test your financial supports to be sure it is stable and secure!
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