3 Legs of Retirement Funding | Planning for Retirement | Coffee Talk

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  • Опубліковано 5 жов 2024
  • Today we talk about the three legs of the retirement stool. These are the three sources of funding for retired life.
    1) Social Security is one leg of the stool. Not many people can live on Social Security alone. Social Security was only meant to supplement retirement income.
    2) Pension is another leg of the retirement stool. Not many people receive pensions any more so if you don't receive a pension you may have to save more or work part time to make up for not having it.
    3) Savings is the third leg of the retirement stool.
    If we don't have all three legs to fund our retired life then we need to improvise and look for alternative ways to fund our retired life.
    Thanks for joining us for Coffee Talk today,
    Keith & Terri

КОМЕНТАРІ • 28

  • @RetiredLovingIt
    @RetiredLovingIt  4 місяці тому

    Have you figured out how your retirement will be funded? Let us know in the comments.

  • @calvinjordan7720
    @calvinjordan7720 4 місяці тому +1

    Mornings are So Good!

  • @IamaDutch-Kiwi
    @IamaDutch-Kiwi 4 місяці тому +1

    Hoping those young and not yet thinking retirement will watch these sensible and valuable videos for their future stage in life. Have a good week. 👌🙋‍♀🥝

    • @RetiredLovingIt
      @RetiredLovingIt  4 місяці тому +2

      We hope so! We want to help those who are younger to do better than we did.

  • @addieandkaysenfamilyadvent1418
    @addieandkaysenfamilyadvent1418 4 місяці тому +1

    Great illustration, never to early to start saving

    • @RetiredLovingIt
      @RetiredLovingIt  4 місяці тому +2

      We wish we would’ve started sooner but glad we started and prepared

  • @r8aboomars750
    @r8aboomars750 4 місяці тому +1

    Great job

  • @OurRetireEarlyJourney
    @OurRetireEarlyJourney 4 місяці тому +1

    We have a very small pension from a hospital and we are planning on delaying taking SS at 70. With that strategy we are saving and investing aggressively to build that nest egg up to support us from young 50s until 70. Appreciate the video.

    • @RetiredLovingIt
      @RetiredLovingIt  4 місяці тому +2

      Sounds like a great plan! Have a blessed Sunday!

  • @SomeplaceOrAnother
    @SomeplaceOrAnother 4 місяці тому +2

    Great tips 👍 my stool fell over 🤪 no pension

    • @RetiredLovingIt
      @RetiredLovingIt  4 місяці тому +2

      😂🤣 not many have those these days….they’re almost obsolete

  • @TravelingTramps
    @TravelingTramps 4 місяці тому +1

    We still have our pensions, Keith and Terri. We're blessed with all three legs. But we look kind of funny! 🤣🤣(Hospital systems offered pensions too along with annuity savings)

    • @RetiredLovingIt
      @RetiredLovingIt  4 місяці тому +1

      That’s awesome! Dave & Kathy you are blessed!

  • @myretiredlife13
    @myretiredlife13 3 місяці тому +1

    All good points, thanks for sharing.

  • @MaryleaMemaw
    @MaryleaMemaw 4 місяці тому +1

    My husband had a pension from the railroad but he had to cash it in to pay for our daughter's divorce years ago (very messy, expensive and chance we would lose our younger grandson so worth it to us). We are "okay" in retirement so far but the unstable economy and uncertainties ahead still make it scary. 🙏

    • @RetiredLovingIt
      @RetiredLovingIt  4 місяці тому +2

      The economy these days is scary for all. Sorry you had to cash the pension in but sometimes you gotta do what you gotta do. Have a blessed Sunday!

  • @BuzzRetirementGarage
    @BuzzRetirementGarage 4 місяці тому +1

    My stool is a pogo stick.

    • @RetiredLovingIt
      @RetiredLovingIt  4 місяці тому +2

      😂 don’t fall over 🤣

    • @RetiredLovingIt
      @RetiredLovingIt  4 місяці тому +2

      I’ve watched your budget videos. You’re making it work 👍

  • @TheSicilianLife
    @TheSicilianLife 4 місяці тому +1

    I really like your Coffee Talks ~ love this approach to retirement. My husband will retire the end of this year, and we're greatly looking forward to it.🩵

    • @RetiredLovingIt
      @RetiredLovingIt  4 місяці тому +2

      It’s the best thing ever! It’s a whole new lease on life!